14th Aug 2007 14:56
British Sky Broadcasting Group PLC14 August 2007 Re: Paragraph 3.1.4. of the Disclosure and Transparency Rules British Sky Broadcasting Group plc (the "Company") announces that: On 11 August 2004 and 8 November 2005, James Murdoch, a director of the Company,received awards under the Company's Long Term Incentive Plan ("LTIP"). Following the satisfaction of certain performance conditions, 70% of thoseawards vested on 11 August 2007. 315,000 BSkyB ordinary shares ("Shares")became exercisable in respect of the August 2004 award and 267,750 Sharesbecame exercisable in respect of the November 2005 award. In accordance with James Murdoch's service agreement, in lieu of issuing sharesin respect of the awards, the Company has today elected to pay him in cash anamount of 671.5 pence per Share over the 582,750 Shares that vested, which was equivalent to the closing mid-market price on 13 August 2007. Following thepayment James Murdoch's right to the above awards lapsed. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Sky