30th Nov 2007 10:40
British Land Co PLC30 November 2007 The Company announces that it received notification yesterday from the Trusteesof The British Land Share Ownership Plan (the 'Trust') that on 29 November 2007the Trust released 246,992 ordinary 25p shares of the Company to participants inthe Company's Long-Term Incentive Plan (the 'Plan'), pursuant to an award madeon 29 November 2004, which vested on attainment of the performance target. The Trust is a discretionary Trust established for the benefit of employees,including Executive Directors and Persons Discharging ManagerialResponsibilities of the Company, to facilitate the operation of its shareincentive schemes. Executive Directors and Persons Discharging ManagerialResponsibilities of the Company who are participants in these schemes areconsequently considered to be interested in the shares held by the Trust, asdiscretionary beneficiaries. The Trust also notified the Company yesterday that, of the above shares releasedby the Trust, some were released to Executive Directors and Persons DischargingManagerial Responsibilities of the Company as shown in the table below. 245,058options awarded on 29 November 2004 under this Plan also vested yesterday, onattainment of the performance target, for Executive Directors and PersonsDischarging Managerial Responsibilities as shown in the table below: Shares at nil consideration Options at 796p per shareDirectorStephen Hester 56,532 169,596Tim Roberts 6,218 18,654 PDMRTony Braine 6,359 19,077Peter Clarke 6,218 18,654Nigel Webb 6,359 19,077 Following this vesting, on 29 November 2007, Stephen Hester sold 23,179 shares,Tim Roberts sold 2,550 shares, Tony Braine sold 2,608 shares, Peter Clarke sold6,218 shares, and Nigel Webb sold 2,608 shares all at a price of 896.6754p pershare. Also on 29 November 2007 the Trust released 61,957 shares to Stephen Hester,awarded on 29 November 2004 under the Co-Investment Share Plan. These shareshad been awarded on his appointment to the Company to compensate him for loss ofprevious benefits, were conditional on the prior acquisition by him of amatching number of shares and their subsequent retention for three years andthat he remained in employment with the Company in this period. Subsequent tothe vesting of these shares, on 29 November 2007, Stephen Hester sold 25,403shares at a price of 896.6754p per share. 30 November 2007. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
British Land