7th Mar 2007 11:16
Reed Elsevier PLC07 March 2007 ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV 7 March 2007 Interests of directors or other persons discharging managerial responsibilities Reed Elsevier received notification yesterday that, following the vesting of theshare awards noted below, granted in 2004 under the Reed Elsevier Group plc LongTerm Incentive Share Option Scheme, and after taking account of shares withheldto meet personal tax and social security obligations, the number of ordinaryshares noted below were released to the directors on 5 March 2007. The current interest of each director in the share capital of Reed Elsevier PLCand Reed Elsevier NV is noted below. Director Number of Number of Number of Number of Reed Current Current Reed Reed Reed Elsevier Elsevier NV Elsevier PLC Elsevier NV PLC shares shares released interest in interest in shares shares released Reed Elsevier Reed Elsevier vested vested PLC ordinary NV ordinary shares sharesSir Crispin Davis 259,825 178,416 153,296 105,265 720,470 429,609Mark Armour 132,036 90,666 77,901 53,492 189,908 100,642Gerard van de Aast 106,342 73,023 63,805 43,813 102,974 101,754Erik Engstrom 147,801 102,165 32,974 85,138 69,047 175,580Andrew Prozes 138,435 95,061 81,053 55,658 204,793 151,612Patrick Tierney 89,982 61,789 52,684 36,176 124,896 84,266 The market price of each share was 588.5p (Reed Elsevier PLC) and €13.10 (ReedElsevier NV). The ordinary shares required to satisfy the above releases havebeen satisfied from the Reed Elsevier Employee Benefit Trust (the "Trust"). TheTrust is a discretionary employee benefit trust which may acquire shares in ReedElsevier PLC and Reed Elsevier NV by means of market purchases on theappropriate Stock Exchange. The Trust is operated in conjunction with ReedElsevier's share incentive schemes, and provides for the transfer of shares toemployees on the exercise of awards granted under the said schemes. Executivedirectors of Reed Elsevier PLC and Reed Elsevier NV are, for technicaldisclosure purposes, deemed to be interested in the shares held by the Trust, byvirtue of being potential beneficiaries under the Trust. The Trust currentlyholds an interest in 15,437,933 ordinary shares in Reed Elsevier PLC and7,993,511 ordinary shares in Reed Elsevier NV. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Relx