15th Nov 2007 16:00
Tesco PLC15 November 2007 Tesco PLC ("The Company")DIRECTORS' SHAREHOLDINGS15 November 2007 Group New Business Incentive Plan 2007 Further to the approval of the Group New Business Incentive Plan by shareholdersat the Company's Annual General Meeting ("AGM") on 29 June 2007, the Directorbelow was granted a nil cost option, on 14 November 2007, over Ordinary Sharesof 5p in Tesco PLC under the Company's Group New Business Incentive Plan. The option will vest in four tranches following the end of each of the financialyears 2010/11, 2011/12, 2012/13 and 2013/14, subject to the achievement ofrelevant performance conditions. The number of shares subject to the option will be increased to reflect thedividends that would have accrued on vested shares had they been reinvested inshares in the period between grant and exercise. Director No. of SharesSir Terry Leahy 2,500,000 US Long-Term Incentive Plan 2007 Further to the approval of the US Long Term Incentive Plan by shareholders atthe Company's AGM on 29 June 2007, the Director below was granted a conditionalright, on 14 November 2007, to acquire Ordinary Shares of 5p in Tesco PLC fornil consideration under the Company's US Long-Term Incentive Plan. The award will vest in four tranches following the end of each of the financialyears 2010/11, 2011/12, 2012/13 and 2013/14, subject to the achievement ofrelevant performance conditions. The number of shares subject to the award will be increased to reflect thedividends that would have accrued on vested shares had they been reinvested inshares in the period between award and vesting. Director No. of SharesT J R Mason 2,000,000 Details of the awards under the Group New Business Incentive Plan and US LongTerm Incentive Plan were provided in the 2006/07 Annual Report and Notice ofAGM. Performance Share Plan 2004 The Directors below were granted a right, on 14 November 2007, to acquireOrdinary Shares of 5p in Tesco PLC under the Company's Performance Share Planfor which no payment is required, the number of shares being calculated using anaverage market price of 471.1 pence per share. The number of shares subject to the right will be increased to reflect thedividends that would have accrued on vested shares had they been reinvested inshares in the period between grant and exercise. These rights will become exercisable on 14 July 2010, subject to the achievementof relevant performance conditions. Director Number of SharesR Brasher 240,045P Clarke 240,045A Higginson 240,045Sir Terry Leahy 420,484T Mason 160,030L Neville-Rolfe 157,610D Potts 240,045 Note : Awards have been made in the form of nil cost options with the exceptionof Mr Mason's award which has been made as a promise over shares that will bereleased on the vesting date if the performance conditions are met. This announcement is made in accordance with the requirements of DTR 3.1.4. Enquiries: J Lloyd Company Secretary Tesco PLC Delamare Road, Cheshunt, Hertfordshire EN8 9SL Tel: 01992 632222 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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