Shaftesbury PLC Director/PDMR Shareholding (2796Z)

TIDMSHB

RNS Number : 2796Z

Shaftesbury PLC

13 December 2017

Shaftesbury PLC (the "Company")

Director/PDMR shareholding

The following transactions were undertaken on 12 December 2017 by directors of the Company in share schemes:

   1.   Grant of share awards under the 2017 Long-Term Incentive Plan (the "LTIP") 

The following awards over ordinary shares of 25p in the Company under the 2017 LTIP were made on 12 December 2017:

 
      Name        Number of nil 
                   cost options 
                     awarded 
---------------  -------------- 
 Brian Bickell           63,110 
---------------  -------------- 
 Simon Quayle            44,550 
---------------  -------------- 
 Tom Welton              44,550 
---------------  -------------- 
 Chris Ward              44,045 
---------------  -------------- 
 

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 2017.

 
                     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 December 2020 and will then be subject to an additional two year holding period.

   2.   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 2017. The directors below elected to take their bonus entirely in shares. Shares were acquired at a price of GBP9.996279 per share and are held in an employee benefit trust for the three year deferral period.

 
      Name        Number of shares 
                       awarded 
---------------  ----------------- 
 Brian Bickell              40,440 
---------------  ----------------- 
 Simon Quayle               28,556 
---------------  ----------------- 
 Tom Welton                 28,556 
---------------  ----------------- 
 Chris Ward                 28,226 
---------------  ----------------- 
 
   3.   Exercise of awards under the deferred annual share bonus scheme 

Following the vesting of the awards granted in December 2014, 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             55,304         26,085             29,219 
---------------  ----------------  -------------  ----------------- 
 Simon Quayle              39,075         18,430             20,645 
---------------  ----------------  -------------  ----------------- 
 Tom Welton                39,075         18,430             20,645 
---------------  ----------------  -------------  ----------------- 
 Chris Ward                36,068         17,012             19,056 
---------------  ----------------  -------------  ----------------- 
 

The ordinary shares were sold at an average price of GBP9.996279 per share.

The changes in Directors' shareholdings resulting from this transaction are as follows:

 
      Name         Number of shares 
                   after transactions 
---------------  -------------------- 
 Brian Bickell              1,225,592 
---------------  -------------------- 
 Simon Quayle               1,083,452 
---------------  -------------------- 
 Tom Welton                   877,570 
---------------  -------------------- 
 Chris Ward                   151,827 
---------------  -------------------- 
 

Full details on the share schemes may be found in the Company's 2017 Annual Report.

Penny Thomas

Company Secretary

13 December 2017

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 13, 2017 11:15 ET (16:15 GMT)