Shaftesbury PLC Director/PDMR Shareholding (7564R)

TIDMSHB

RNS Number : 7564R

Shaftesbury PLC

13 December 2016

Shaftesbury PLC (the "Company")

Director/PDMR shareholding

The following transactions were undertaken on 12 December 2016 by directors of the Company in share schemes:

   1.   Grant of share awards under the 2016 Long-Term Incentive Plan (the "LTIP") 

The following awards over ordinary shares of 25p in the Company under the 2016 LTIP were made on 12 December 2016:

 
      Name        Number of nil 
                   cost options 
                     awarded 
---------------  -------------- 
 Brian Bickell           67,850 
---------------  -------------- 
 Simon Quayle            47,900 
---------------  -------------- 
 Tom Welton              47,900 
---------------  -------------- 
 Chris Ward              47,350 
---------------  -------------- 
 

The awards (which have been granted as nil-cost options) will be subject to the following performance conditions measured over a period of three financial years commencing 1 October 2016.

 
                     Weighting   Threshold    Maximum 
------------------  ----------  ----------  ----------- 
 Total shareholder      50%      Equal to     Index + 
  return relative                  index      5.5% p.a. 
  to the FTSE 350 
  REITs Index 
------------------  ----------  ----------  ----------- 
 Net Asset Value        50%      RPI + 3%     RPI + 7% 
  growth                            p.a.        p.a. 
------------------  ----------  ----------  ----------- 
 25% of the maximum for each component vests 
  at Threshold. Straight-line vesting between 
  points 
------------------------------------------------------- 
 

Subject to the rules of the LTIP and these performance conditions, the awards will vest in late 2019 and will then be subject to an additional two year holding period.

   2.   Exercise of share awards under the 2006 LTIP 

Of the options granted in December 2013, all the options vested.

The directors sold sufficient shares to meet income tax and national insurance liabilities and retained the balance.

The ordinary shares were sold at an average price of GBP8.91028 per share.

 
      Name            Number of        Number of        Number of 
                   nil cost options    shares sold    shares retained 
                       vesting 
---------------  ------------------  -------------  ----------------- 
 Brian Bickell               94,900         44,760             50,140 
---------------  ------------------  -------------  ----------------- 
 Simon Quayle                67,000         31,601             35,399 
---------------  ------------------  -------------  ----------------- 
 Tom Welton                  67,000         31,601             35,399 
---------------  ------------------  -------------  ----------------- 
 Chris Ward                  61,900         29,196             32,704 
---------------  ------------------  -------------  ----------------- 
 
   3.   Grant of awards under the deferred annual share bonus scheme 

The following awards were made in respect of the annual bonus for the year ended 30 September 2016. The directors below elected to take their bonus entirely in shares. Shares were acquired at a price of GBP8.91028 per share and are held in an employee benefit trust for the three year deferral period.

 
      Name        Number of shares 
                       awarded 
---------------  ----------------- 
 Brian Bickell              48,988 
---------------  ----------------- 
 Simon Quayle               34,544 
---------------  ----------------- 
 Tom Welton                 34,544 
---------------  ----------------- 
 Chris Ward                 33,787 
---------------  ----------------- 
 
   4.   Exercise of awards under the deferred annual share bonus scheme 

Following the vesting of the awards granted in December 2013, in the deferred annual share bonus scheme, Brian Bickell retained all shares, setting the income tax and national insurance separately and the other directors sold sufficient shares to meet income tax and national insurance liabilities and retained the balance.

 
      Name           Number of       Number of        Number of 
                   shares vesting    shares sold    shares retained 
---------------  ----------------  -------------  ----------------- 
 Brian Bickell             36,238              0             36,238 
---------------  ----------------  -------------  ----------------- 
 Simon Quayle              25,651         12,081             13,570 
---------------  ----------------  -------------  ----------------- 
 Tom Welton                25,651         12,081             13,570 
---------------  ----------------  -------------  ----------------- 
 Chris Ward                22,394         10,547             11,847 
---------------  ----------------  -------------  ----------------- 
 

The ordinary shares were sold at an average price of GBP8.91028 per share.

Full details on the share schemes may be found in the Company's 2016 annual report.

The changes in Directors' shareholdings resulting from the transactions noted in paragraphs 2 and 4 above are summarised below:

 
      Name          Number of shares      Number of shares 
                   before transactions    after transactions 
---------------  ---------------------  -------------------- 
 Brian Bickell               1,070,782             1,157,160 
---------------  ---------------------  -------------------- 
 Simon Quayle                  986,182             1,035,151 
---------------  ---------------------  -------------------- 
 Tom Welton                    780,300               829,269 
---------------  ---------------------  -------------------- 
 Chris Ward                     57,423               101,974 
---------------  ---------------------  -------------------- 
 

Penny Thomas

Company Secretary

13 December 2016

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 13, 2016 11:19 ET (16:19 GMT)