24th Mar 2006 16:45
Reed Elsevier PLC24 March 2006 24 March 2006 ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV Director/PDMR Shareholding Reed Elsevier received notification today from Hill Samuel Offshore TrustCompany Limited, the Trustees of the Reed Elsevier Employee Benefit Trust ("theTrustees") that on 23 March 2006 they released the following shares to directorsof Reed Elsevier PLC and Reed Elsevier NV at nil cost as a result of the vestingof awards granted on 21 March 2003 under the Reed Elsevier Group plc BonusInvestment Plan. On 23/24 March the Trustees arranged for the sale of sufficient shares, as notedbelow, in order to satisfy the personal tax and social security liabilities ofSir Crispin Davis and Messrs van de Aast and Prozes arising from the vesting oftheir awards. Mr Armour has retained all of the shares released to him. The number of shares released and sold were: Ordinary Shares in Reed Elsevier PLC Director No. of Reed Elsevier No. of shares sold to PLC shares released satisfy tax liability Sir Crispin Davis 22,731 9,065 at 562p per shareM H Armour 11,327 Nil Ordinary Shares in Reed Elsevier NV Director No. of Reed Elsevier No. of shares sold to NV shares released satisfy tax liability Sir Crispin Davis 16,115 6,407 at €12.09 per shareM H Armour 8,030 NilG J A van de Aast 12,057 4,646 at €12.17 per share ADRs in Reed Elsevier PLC Director No. of Reed Elsevier No. of ADRs sold to PLC ADRs released satisfy tax liability A Prozes 5,010 1,699 at US$39.4001 per ADR ADRs in Reed Elsevier NV Director No. of Reed Elsevier No. of ADRs sold to NV ADRs released satisfy tax liability A Prozes 7,276 2,477 at US$29.1902 per ADR The ordinary shares and ADRs required to satisfy the above releases have beensatisfied from the Reed Elsevier Employee Benefit Trust (the "Trust").Following the releases, the Trust now holds an interest in 11,854,679 ordinaryshares in Reed Elsevier PLC and 6,282,114 ordinary shares in Reed Elsevier NV.The Trust is a discretionary employee benefit trust which may acquire shares 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 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. Reed Elsevier also received notification today that on 23 March 2006, Mr G J Avan de Aast exercised an option granted to him under the Reed Elsevier Group plcExecutive Share Option Scheme over 81,728 Reed Elsevier PLC ordinary shares at451.50p per share, and 58,191 Reed Elsevier NV ordinary shares at €9.34 pershare. In order to meet the cost of exercise and tax liability arising on thisexercise, Mr van de Aast sold 72,076 Reed Elsevier PLC ordinary shares at 565pper share and 50,355 Reed Elsevier NV ordinary shares at €12.105 per share. Following the above transactions the interests of the following directors in theshare capital of Reed Elsevier have increased as noted below. (a) Sir Crispin Davis now holds an interest in 542,513 Reed Elsevier PLC and 307,969 Reed Elsevier NV ordinary shares. (b) Mr Armour now holds an interest in 110,648 Reed Elsevier PLC and 46,757 Reed Elsevier NV ordinary shares. (c) Mr van de Aast now holds an interest in 28,252 Reed Elsevier PLC and 50,692 Reed Elsevier NV ordinary shares. (d) Mr Prozes now holds an interest in 104,688 Reed Elsevier PLC and 83,230 Reed Elsevier NV ordinary shares. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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