19th Dec 2011 16:30
Shaftesbury PLC
Director Shareholding
Shaftesbury PLC announces that on 16 December 2011, the transactions set out below were completed following the exercise by certain Directors of nil cost options awarded under the Company's Long Term Incentive Plan ("LTIP") and :
B Bickell, S J Quayle and T J C Welton sold sufficient shares to meet income tax and national insurance liabilities;
J S Lane sold 85,597 Ordinary shares, of which 60,110 shares were sold to meet his income tax and national insurance liabilities.
Awards made under the LTIP on 16 December 2008 were subject to a performance period commencing 1 October 2008 and ending on 30 September 2011. The performance criteria were met as follows:
The TSR performance condition was met in full and 50% of the award vested
The NAV performance condition was met as to 53.4% and 26.7% of the award vested.
Overall 76.7% of the total award vested on 16 December 2011.
The changes in Directors' shareholdings resulting from these transactions are summarised below:
J S Lane | B Bickell | S J Quayle | T J C Welton | |
Ordinary Shares over which nil cost options exercised | 115,597 | 81,231 | 79,666 | 76,546 |
Ordinary Shares sold | 85,597 | 42,347 | 41,531 | 39,904 |
Net increase in holding | 30,000 | 38,884 | 38,135 | 36,642 |
Revised holding | 1,033,918 | 781,373 | 759,800 | 593,342 |
The Ordinary shares were sold at an average price of £4.66 per share.
Brian Bickell
Chief Executive
19 December 2011
Telephone 020 7333 8118
Related Shares:
SHB.L