REG - British Land Co PLC - Director/PDMR Shareholding

British LandAnnouncement

02/07/2018 14:15

RNS Number : 2886T
British Land Co PLC
02 July 2018
 


Matching Share Plan ("MSP") - Vesting
 
The British Land Company PLC (the "Company") announces that it received notification from the Trustees of The British Land Employee Share Trust of the partial vesting on 29 June 2018 of the MSP Matching Share awards granted on 29 June 2015 to Chris Grigg, Charles Maudsley and Tim Roberts, Executive Directors of the Company, and to Nigel Webb, Joff Sharpe and Sally Jones, Persons Discharging Managerial Responsibilities of the Company ("PDMR"). The Matching Share awards vested at 50% as the MSP's Gross Income Growth performance test had been fully attained whereas the Total Shareholder Return performance test had not been met.
 
In accordance with the terms of the MSP, the MSP Bonus Shares that were purchased by the MSP participants on 29 June 2015 using proportions of their retained Annual Incentive awards were released on 29 June 2018.
 







Bonus Shares Released


Matching Shares Vesting




Chris Grigg


25,124


47,174




Charles Maudsley


11,777


22,113




Tim Roberts


12,431


23,341




Nigel Webb


5,888


11,056




Joff Sharpe


5,452


10,237




Sally Jones


2,617


4,914



 
Following the vesting Chris Grigg sold 22,217 shares and Nigel Webb sold 5,207 shares to cover their respective tax liabilities. Charles Maudsley sold all 33,890 shares, Tim Roberts sold all 35,772 shares, Joff Sharpe sold all 15,689 shares and Sally Jones sold all 7,531 shares. 
 
All share sales were at a price of £6.706768 per share.  
 
Chris Grigg transferred 25,041 shares to his wife, Fionna Grigg and Nigel Webb transferred 11,737 shares to his wife, Philippa Webb.
 
The release of shares and transfers to spouses took place outside a trading venue and the sale of shares took place in London.
 
This notification is made in accordance with the requirements of the EU Market Abuse Regulation.  The Identification Code for ordinary shares of 25 pence each in the Company is GB0001367019.
 



Enquiries:
Company Secretariat, British Land


 
020 7486 4466



 
 




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