24th Aug 2007 15:12
Reed Elsevier PLC24 August 2007 ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV 24 August 2007 Director/PDMR Shareholding We have today received notification of the following transactions in ReedElsevier PLC and Reed Elsevier NV ordinary shares by Mr E Engstrom, a directorof Reed Elsevier PLC and Reed Elsevier NV. Today, Mr Engstrom exercised a nil cost share award granted to him on 23 August2004 over 38,593 Reed Elsevier PLC ordinary shares and 26,677 Reed Elsevier NVordinary shares. In order to meet due tax and social security charges, MrEngstrom today sold 28,261 Reed Elsevier PLC ordinary shares at 589p. As a consequence of the above transaction Mr Engstom's interest in Reed ElsevierPLC ordinary shares is 72,785 and 202,840 in Reed Elsevier NV ordinary shares. The ordinary shares required to fulfil the above nil cost award have beensatisfied from the Reed Elsevier Employee Benefit Trust (the "Trust"). TheTrust is a discretionary employee benefit trust which may acquire securities inReed Elsevier 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 securitiesto employees 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 securities held by theTrust, by virtue of being potential beneficiaries under the Trust. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Relx