REG - Land Sec. Group PLC - Director/PDMR Shareholding

Land SecuritiesAnnouncement

01/08/2018 09:35

RNS Number : 4616W
Land Securities Group PLC
01 August 2018
 


Land Securities Group PLC   
(Company)
 
Notification of transactions by
Persons Discharging Managerial Responsibilities (PDMRs)
 
On 31 July 2018, Land Securities Group PLC (Landsec or the Company) was notified of the following transactions in its ordinary shares of 10 2/3p each (Shares) by PDMRs (who are all Executive Directors).
 
On 27 July 2018, Robert Noel and Martin Greenslade became entitled to the dividend equivalents as set out below taken as Nil Cost Options (Options) pursuant to the Options granted under the Land Securities 2015 Deferred Share Bonus Plans (2015 DSB) on 27 June 2016 and 26 June 2017 following their vesting on 26 and 27 June 2018, being accrued within the 2015 DSB on the dividend record date and calculated at the dividend payment date.  The dividend equivalents are in respect of the final dividend for the 2017/18 financial year which was paid to shareholders on 27 July 2018.
On 27 July 2018, Robert Noel, Martin Greenslade, Colette O'Shea and Scott Parsons, all received dividend equivalents taken as Options in relation to awards made under the Land Securities' 2009 Deferred Share Bonus Plan (2009 DSB) and the 2015 DSB as set out below, where dividend equivalents that had previously been awarded for these DSB awards had not reflected the final dividend adjustment for each year and therefore this is now being corrected.
 
On 31 July 2018, Robert Noel and Martin Greenslade exercised all outstanding options under the 2015 DSB and 2009 DBS as detailed below.
 
                                                               




 



1


Details of the person discharging managerial responsibilities





a)


Name


Robert Noel





2


Reason for the notification





a)


Position/status


Chief Executive











b)


Initial notification/Amendment


Initial





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Vest of Options (final dividend equivalents) granted under the Company's Deferred Share Bonus Plan on, 27 June 2016 and 26 June 2017.
 





c)


Price(s) and volume(s)


Price(s)


Volume(s)













 £n/a


1,382








d)


Aggregated information




























-      Aggregated volume


- £ per share
n/a









-      Price


 - Total Price £n/a









e)


Date of the transaction


 27/07/2018





f)


Place of the transaction


 n/a




 




 
 



1


Details of the person discharging managerial responsibilities





a)


Name


Robert Noel





2


Reason for the notification





a)


Position/status


Chief Executive











b)


Initial notification/Amendment


Initial





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Vest of Options (correction to include the final dividend equivalents) granted under the Company's 2009 and 2015 Deferred Share Bonus Plans





c)


Price(s) and volume(s)


Price(s)


Volume(s)













 £n/a


1,354








d)


Aggregated information




























-      Aggregated volume


- £ per share
n/a









-      Price


 - Total Price £n/a









e)


Date of the transaction


 27/07/2018





f)


Place of the transaction


 n/a




 
 
 
 
 
 
 
 



1


Details of the person discharging managerial responsibilities





a)


Name


 Martin Greenslade





2


Reason for the notification





a)


Position/status


Chief Financial Officer











b)


Initial notification/Amendment


Initial





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Vest of Options Final dividend equivalents) granted under the Company's Deferred Share Bonus Plan on 27 June 2016 and 26 June 2017.
 





c)


Price(s) and volume(s)


Price(s)


Volume(s)













 £n/a


852








d)


Aggregated information




























-      Aggregated volume


- £ per share
n/a









-      Price


 - Total Price £n/a









e)


Date of the transaction


 27/07/2018





f)


Place of the transaction


 n/a




 




 
 



1


Details of the person discharging managerial responsibilities





a)


Name


 Martin Greenslade





2


Reason for the notification





a)


Position/status


Chief Financial Officer











b)


Initial notification/Amendment


Initial





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Vest of Options (correction to include the final dividend equivalents) granted under the Company's 2009 and 2015 Deferred Share Bonus Plans





c)


Price(s) and volume(s)


Price(s)


Volume(s)













 £n/a


1,025








d)


Aggregated information




























-      Aggregated volume


- £ per share
n/a









-      Price


 - Total Price £n/a









e)


Date of the transaction


 27/07/2018





f)


Place of the transaction


 n/a








 



1


Details of the person discharging managerial responsibilities





a)


Name


Colette O'Shea





2


Reason for the notification





a)


Position/status


Managing Director, London Portfolio











b)


Initial notification/Amendment


Initial





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Vest of Options (correction to include the final dividend equivalents) granted under the Company's 2009 and 2015 Deferred Share Bonus Plans





c)


Price(s) and volume(s)


Price(s)


Volume(s)













 £n/a


255








d)


Aggregated information




























-      Aggregated volume


- £ per share
n/a









-      Price


 - Total Price £n/a









e)


Date of the transaction


 27/07/2018





f)


Place of the transaction


 n/a








 



1


Details of the person discharging managerial responsibilities





a)


Name


Scott Parsons





2


Reason for the notification





a)


Position/status


Managing Director, Retail Portfolio











b)


Initial notification/Amendment


Initial





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Vest of Options (correction to include the final dividend equivalents) granted under the Company's 2009 and 2015 Deferred Share Bonus Plans





c)


Price(s) and volume(s)


Price(s)


Volume(s)













 £n/a


232








d)


Aggregated information




























-      Aggregated volume


- £ per share
n/a









-      Price


 - Total Price £n/a









e)


Date of the transaction


 27/07/2018





f)


Place of the transaction


 n/a




 
 
 
 
 
 
 
 
 
 



1


Details of the person discharging managerial responsibilities





a)


Name


Robert Noel





2


Reason for the notification





a)


Position/status


Chief Executive











b)


Initial notification/Amendment


Initial





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Acquisition of Shares in the Company following the exercise of Options granted under the Company's 2015 and 2009 Deferred Share Bonus Plan





c)


Price(s) and volume(s)


Price(s)


Volume(s)













 £n/a


31,782








d)


Aggregated information




























-      Aggregated volume


- £ per share
n/a









-      Price


 - Total Price £n/a









e)


Date of the transaction


 31/07/2018





f)


Place of the transaction


 n/a




 
 
 
 
 
 
 
 
 



1


Details of the person discharging managerial responsibilities





a)


Name


 Robert Noel





2


Reason for the notification





a)


Position/status


Chief Executive











b)


Initial notification/Amendment


Initial 





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Sell Ordinary Shares in the Company ("Shares") to cover tax liability as a result of exercising the options set out above.





c)


Price(s) and volume(s)


Price(s)


Volume(s)













£9.451


14,968








d)


Aggregated information













-      Aggregated volume


£9.451


14,968





-      Price


Total Price
£141,462.57









e)


Date of the transaction


 31/07/2018





f)


Place of the transaction


London








 



1


Details of the person discharging managerial responsibilities





a)


Name


Martin Greenslade





2


Reason for the notification





a)


Position/status


Chief Financial Officer











b)


Initial notification/Amendment


Initial





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Acquisition of Shares in the Company following the exercise of Options granted under the Company's 2015 and 2009 Deferred Share Bonus Plan





c)


Price(s) and volume(s)


Price(s)


Volume(s)













 £n/a


19,811








d)


Aggregated information




























-      Aggregated volume


- £ per share
n/a









-      Price


 - Total Price £n/a









e)


Date of the transaction


 31/07/2018





f)


Place of the transaction


 n/a




 
 
 
 
 
 
 
 
 



1


Details of the person discharging managerial responsibilities





a)


Name


Martin Greenslade





2


Reason for the notification





a)


Position/status


Chief Financial Officer











b)


Initial notification/Amendment


Initial 





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Purchase of Ordinary Shares in the Company ("Shares") for transfer into SIPP





c)


Price(s) and volume(s)


Price(s)


Volume(s)













£9.435


8,000








d)


Aggregated information













-      Aggregated volume


£9.435









-      Price


Total Price
£75,480.72









e)


Date of the transaction


 31/07/2018





f)


Place of the transaction


London




 
 
 
 
 
 
 
 
 
 
 
 



1


Details of the person discharging managerial responsibilities





a)


Name


Martin Greenslade





2


Reason for the notification





a)


Position/status


Chief Financial Officer











b)


Initial notification/Amendment


Initial 





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Purchase of Ordinary Shares in the Company ("Shares") for transfer into ISA





c)


Price(s) and volume(s)


Price(s)


Volume(s)













£9.439


2,500








d)


Aggregated information













-      Aggregated volume


£9.439


 2,500





-      Price


Total Price
£23,596.53









e)


Date of the transaction


 31/07/2018





f)


Place of the transaction


London




 
 
 
 
 
 
 
 
 
 
 
 



1


Details of the person discharging managerial responsibilities





a)


Name


Martin Greenslade





2


Reason for the notification





a)


Position/status


Chief Financial Officer











b)


Initial notification/Amendment


Initial 





3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor





a)


Name


 Land Securities Group PLC





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 the financial instrument, type of instrument Identification code


-     Shares









-     GB00BYW0PQ60





b)


Nature of transaction


Sell Ordinary Shares in the Company to (1) cover tax liability as a result of exercising the options set out above and (2) fund the purchase of shares to transfer into SIPP and ISA.   Net effect is sell sufficient to cover tax liability





c)


Price(s) and volume(s)


Price(s)


Volume(s)













£9.451


19,811








d)


Aggregated information













-      Aggregated volume


£9.451


19,811





-      Price


Total Price
£187,233.77









e)


Date of the transaction


31/07/2018





f)


Place of the transaction


London




 
 
 
 
 
 
Enquiries to:  Liz Miles, Deputy Company Secretary
Land Securities Group PLC
Tel: 020 7024 5280
 




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