REG - British Land Co PLC - Director/PDMR Shareholding

British LandAnnouncement

16/06/2023 11:15

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RNS Number : 0040D  British Land Co PLC  16 June 2023

Long-Term Incentive Plan ('LTIP') Grant

The British Land Company PLC (the 'Company') announces that on 15 June 2023,
conditional awards of ordinary shares of 25p each in the Company were granted
to Executive Directors and other Persons Discharging Managerial
Responsibilities ('PDMRs') under the LTIP as outlined below (the 'Performance
Shares').

The Remuneration Committee has considered the fall in share price since the
previous LTIP grants were made in 2022. At the time of grant, the Committee
was of the view that no windfall circumstances existed. The Committee commits
that it will assess whether a windfall gain has occurred between grant and
vesting of the 2023 award, in 2026. If the Committee determines that a
windfall has occurred upon vesting, then it will consider the extent to which
the number of Performance Shares should be scaled back.

 

                      Performance Shares at nil consideration
 Executive Directors
 Simon Carter         571,375
 Bhavesh Mistry       373,298
 PDMRs
 Emma Cariaga         159,985
 Kelly Cleveland      159,985
 David Lockyer        160,502
 Brona McKeown        164,739
 Roger Madelin        157,155
 Darren Richards      240,739
 David Walker         142,381

The above Performance Shares conditionally vest on the third anniversary of
grant, subject to performance conditions. Those conditions are based 50% on
Total Accounting Return, 25% on Total Property Return, and 25% on
Environmental, Social, Governance measures. A two-year post-vesting holding
period applies to any shares vesting. A full description of the performance
conditions attached to the awards is contained within the 2023 Directors'
Remuneration Report.

These transactions took place outside of a trading venue.

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                               1.    Simon Carter

                                                                        2.    Bhavesh Mistry

                                                                        3.    Emma Cariaga

                                                                        4.    Kelly Cleveland

                                                                        5.    David Lockyer

                                                                        6.    Brona McKeown

                                                                        7.    Roger Madelin

                                                                        8.    Darren Richards

                                                                        9.    David Walker
 2   Reason for the notification
 a)  Position/status                                                    1.    PDMR - Chief Executive Officer

                                                                        2.    PDMR - Chief Financial Officer

                                                                        3.    PDMR - Executive Committee member

                                                                        4.    PDMR - Executive Committee member

                                                                        5.    PDMR - Executive Committee member

                                                                        6.    PDMR - Executive Committee member

                                                                        7.    PDMR - Executive Committee member

                                                                        8.    PDMR - Executive Committee member

                                                                        9.    PDMR - Executive Committee member
 b)  Initial notification/Amendment                                     Initial notification

 3   Details of the issuer; emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                               The British Land Company PLC

 b)  LEI                                                                RV5B68J2GV3QGMRPW209

 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of financial instrument, type of financial instrument  Ordinary shares of 25 pence each

     Identification code

                                                                        GB0001367019

 b)  Nature of the transaction                                          Grant of conditional Performance Share Award under the Long-Term Incentive

                                                                  Plan scheme

 c)  Price(s) and volume(s)

Price(s) (pence)  Volume(s)
                                                                        1.    Nil         1.    571,375

                                                                        2.    Nil         2.    373,298

                                                                        3.    Nil         3.    159,985

                                                                        4.    Nil         4.    159,985

                                                                        5.    Nil         5.    160,502

                                                                        6.    Nil         6.    164,739

                                                                        7.    Nil         7.    157,155

                                                                        8.    Nil         8.    240,739

                                                                        9.    Nil         9.    142,381

 
 d)  Aggregated information

     -      Aggregated volume                                           N/A (single transaction)

     -      Price

 e)  Date of the transaction                                            2023-06-15

 f)  Place of the transaction                                           Outside of a trading venue

 

d)

Aggregated information

-      Aggregated volume

-      Price

 

 

N/A (single transaction)

e)

Date of the transaction

 

2023-06-15

f)

Place of the transaction

 

Outside of a trading venue

 

This notification is made in accordance with the requirements of the UK Market
Abuse Regulation.  The Identification Code for ordinary shares of 25 pence
each in the Company is GB0001367019.

 

 Enquiries
 Company Secretariat  0207 486 4466

 

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