19th Apr 2005 16:51
Reed Elsevier PLC19 April 2005 ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV Directors' interests Reed Elsevier received notifications today of the following transactions in theordinary shares of Reed Elsevier PLC and Reed Elsevier NV involving thedirectors noted below, which took place between 14th and 15th April 2005. (a) Sir Crispin Davis purchased 50,361 Reed Elsevier PLC ordinary shares under the Reed Elsevier Group plc Bonus Investment Plan (the "Plan"). As a result of these purchases, Sir Crispin Davis now holds an interest in 523,828 Reed Elsevier PLC and 298,261 Reed Elsevier NV ordinary shares. Following the above purchase, Sir Crispin Davis was granted a matching award of nil cost restricted shares under the terms of the Plan over 86,042 Reed Elsevier PLC ordinary shares. (b) Mr M H Armour purchased 12,795 Reed Elsevier PLC ordinary shares and 8,881 Reed Elsevier NV ordinary shares under the Plan. Following the above purchase, Mr Armour was granted a matching award of nil cost restricted shares under the terms of the Plan over 21,861 Reed Elsevier PLC and 15,098 Reed Elsevier NV ordinary shares. On 15th April 2005, Mr Armour exercised an option over 39,600 Reed Elsevier PLC ordinary shares, granted to him on 26th April 1995 under the Reed Elsevier Group plc Executive Share Option Scheme at 400.75p per share. Mr Armour retained all of the shares arising from the exercise of the option. Following the above transactions, Mr Armour now holds an interest in 99,321 Reed Elsevier PLC and 38,727 Reed Elsevier NV ordinary shares. (c) Mr G J A van de Aast purchased 15,761 Reed Elsevier NV ordinary shares under the Plan. As a result of this purchase, Mr van de Aast now holds an interest in 18,600 Reed Elsevier PLC and 35,445 Reed Elsevier NV ordinary shares. Following the above purchase, Mr van de Aast was granted a matching award of nil cost restricted shares under the terms of the Plan over 26,347 Reed Elsevier NV ordinary shares. (d) Mr E Engstrom purchased 2,271 Reed Elsevier PLC American Depositary Shares ("ADRs") (representing 9,084 Reed Elsevier PLC ordinary shares) under the Plan. As a result of this purchase, Mr Engstrom now holds an interest in 9,084 Reed Elsevier PLC ordinary shares. Following the above purchase, Mr Engstrom was granted a matching award of nil cost restricted shares under the terms of the Plan over 3,505 Reed Elsevier PLC ADRs (representing 14,020 Reed Elsevier PLC ordinary shares). (e) Mr A Prozes purchased 3,659 Reed Elsevier PLC ADR (representing 14,636 Reed Elsevier PLC ordinary shares) and 5,089 Reed Elsevier NV ADRs (representing 10,178 Reed Elsevier NV ordinary shares) under the Plan. As a result of these purchases, Mr Prozes now holds an interest in 91,444 Reed Elsevier PLC and 73,632 Reed Elsevier NV ordinary shares. Following the above purchase, Mr Prozes was granted a matching award of nil cost restricted shares under the terms of the Plan over 5,939 Reed Elsevier PLC ADRs (representing 23,756 Reed Elsevier PLC ordinary shares) and 8,261 Reed Elsevier NV ADRs (representing 16,522 Reed Elsevier NV ordinary shares). (f) Mr P Tierney purchased 3,937 Reed Elsevier PLC ADRs (representing 15,748 Reed Elsevier PLC ordinary shares) and 5,475 Reed Elsevier NV ADRs (representing 10,950 Reed Elsevier NV ordinary shares) under the Plan. As a result of these purchases, Mr Tierney now holds an interest in 42,440 Reed Elsevier PLC and 28,902 Reed Elsevier NV ordinary shares. Following the above purchase, Mr Tierney was granted a matching award of nil cost restricted shares under the terms of the Plan over 6,039 Reed Elsevier PLC ADRs (representing 24,156 Reed Elsevier PLC ordinary shares) and 8,400 Reed Elsevier NV ADRs (representing 16,800 Reed Elsevier NV ordinary shares). The ordinary shares and ADRs purchased by the directors were at the followingprices: Reed Elsevier PLC ordinary shares 538.3182p per share Reed Elsevier NV ordinary shares €11.3877 per share Reed Elsevier PLC ADRs $40.6353 per ADR Reed Elsevier NV ADRs $29.2144 per ADR The Reed Elsevier Group plc Bonus Investment Plan permits directors and othersenior executives to invest up to one half of their annual bonus in shares inthe company, and receive an equivalent award of nil cost restricted shares fromReed Elsevier Group plc. The matching awards under the Plan vest after threeyears, subject to the participant retaining the shares which they have purchasedunder the Plan for a period of three years, and also subject to remaining inReed Elsevier's employment during this period. In addition, in order for thematching award to vest, growth in the average of the Reed Elsevier PLC and ReedElsevier NV adjusted EPS at constant currencies must exceed 6% per annumcompound during the three years 2005-2007. Options granted under the Reed Elsevier Group plc Executive Share Option Schemeare normally exercisable between three and ten years from the date of grant, atthe market price at the date of grant. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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