8th Apr 2009 13:29
ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV
8 April 2009
Director/PDMR Shareholding
Reed Elsevier received notification yesterday from the Trustees of the Reed Elsevier Employee Benefit Trust that, following the vesting of the share awards, granted in April 2006 under the Reed Elsevier Group plc Bonus Investment Plan, and after taking account of shares withheld to meet personal tax and social security obligations, the number of securities noted below were released to the directors/PDMRs on 3 April 2009.
The closing market price of each security on the date of vesting was 494.00p (Reed Elsevier PLC ordinary share), €8.14 (Reed Elsevier NV ordinary share), $29.55 (Reed Elsevier PLC ADR), and $22.18 (Reed Elsevier NV ADR).
Additionally, today Mr Prozes, a director of Reed Elsevier sold 8,476 Reed Elsevier PLC ADRs and 11,378 Reed Elsevier NV ADRs, at the respective price of $29.187 and $21.5871 per ADR.
Following these transactions, the current interest of each director in the share capital of Reed Elsevier PLC and Reed Elsevier NV is as noted below.
|
Director |
No. of Reed Elsevier PLC ordinary shares/ADRs* vested |
No. of Reed Elsevier NV ordinary shares/ADRs* vested |
No. of Reed Elsevier PLC ordinary shares/ADRs* released |
No. of Reed Elsevier NV ordinary shares/ADRs* released |
Current interest in Reed Elsevier PLC ordinary shares |
Current interest in Reed Elsevier NV ordinary shares |
|
Mark Armour |
21,653 |
14,306 |
12,775 |
8,440 |
228,062 |
125,947 |
|
Erik Engstrom |
|
14,721* |
|
8,685* |
107,040 |
331,923 |
|
Andrew Prozes |
6,600* |
8,818* |
3,864* |
5,162* |
213,261 |
156,244 |
* Denotes vesting/release of ADRs. Each Reed Elsevier PLC ADR represents 4 Reed Elsevier PLC ordinary shares and each Reed Elsevier NV ADR represents 2 Reed Elsevier NV ordinary shares.
|
PDMR |
No. of Reed Elsevier PLC ordinary shares vested |
No. of Reed Elsevier PLC ordinary shares released |
|
Ian Fraser |
10,866 |
6,410 |
The ordinary shares and ADRs required to fulfil the above releases have been satisfied from the Reed Elsevier Employee Benefit Trust (the "Trust"). The Trust is a discretionary employee benefit trust which may acquire securities in Reed Elsevier PLC and Reed Elsevier NV by means of market purchases on the appropriate Stock Exchange. The Trust is operated in conjunction with Reed Elsevier's share incentive schemes, and provides for the transfer of securities to employees on the exercise of awards granted under the said schemes.
Related Shares:
Relx