20th Jan 2009 15:31
20 January 2009
Stagecoach Group plc ("the Company") has been notified that today the following transactions occurred relating to the interests of Brian Souter and Ann Gloag (each a director of the Company) in the securities of the Company:
7,633,928 ordinary shares in the Company previously pledged by Brian Souter as security against personal banking arrangements were released and re-pledged. In addition, Brian Souter transferred 16,366,072 ordinary shares in the Company from his own name to HSDL Nominees Limited. As a result of these transactions, HSDL Nominees Limited now holds 24,000,000 ordinary shares in the Company of which Brian Souter is the beneficial owner.
11,196,427 ordinary shares in the Company previously pledged by Ann Gloag as security against personal banking arrangements were released and re-pledged. As a result of these transactions, HSDL Nominees Limited now holds 11,196,427 ordinary shares in the Company of which Ann Gloag is the beneficial owner.
The shares held by HSDL Nominees Limited are held as security against personal banking arrangements of Brian Souter and Ann Gloag, and represent 4.89% of the ordinary shares of the Company currently in issue. The change in the number of shares held by HSDL Nominees Limited arises in connection with the renewal of personal banking facilities. Dividends and other distributions received on these shares are for the benefit of Brian Souter and Ann Gloag.
There is no change in Brian Souter's and Ann Gloag's total interests in the securities of the Company as a result of these transactions. Their interests in the securities of the Company are as follows:
|
Number of ordinary shares |
% of ordinary shares in issue |
Number of ordinary shares under option |
Number of deferred ordinary shares under Executive Participation Plan |
|
|
Brian Souter |
108,221,606 |
15.05% |
217,085 |
433,795 |
|
Ann Gloag |
78,095,900 |
10.86% |
Nil |
Nil |
As a result of the transactions, there have been reportable changes in the voting rights controlled by each of Brian Souter and Ann Gloag. Prior to the arrangements entered into today, Bank of Scotland plc and HSDL Nominees Limited controlled the voting rights in respect of the shares held in the name of HSDL Nominees Limited. Following the new arrangements, the voting rights are controlled by Brian Souter and Ann Gloag unless they are in default of the related bank facilities. The change in Brian Souter's and Ann Gloag's voting rights have been separately reported on Form TR-1s.
In addition to the above transactions and in light of the recent clarification by the Financial Services Authority of its disclosure requirements for directors and other persons discharging managerial responsibilities ("PDMRs") who grant security over their shareholdings, the Company also discloses below other arrangements whereby a director or PDMR has granted security over shares in the Company.
The Company announced on 4 December 2008 that Sir George Mathewson, a director of the Company, purchased 35,800 ordinary shares in the Company on that day. These shares represent Sir George Mathewson's total interests in the share capital of the Company. Sir George Mathewson has pledged the 35,800 ordinary shares he holds in the Company as security against personal loan arrangements.
Other than as disclosed above, the Company has not been notified of any other arrangements whereby a director or PDMR has granted security over shares in the Company.
|
Contacts: |
Telephone |
|
Ross Paterson, Company Secretary |
01738 442 111 |
|
Steven Stewart, Director of Corporate Communications |
01738 442 111 |
Related Shares:
SGC.L