27th Mar 2007 17:33
Reed Elsevier PLC27 March 2007 ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV 27 March 2007 Interests of directors or other persons discharging managerial responsibilities Reed Elsevier received notification today that, following the vesting of theshare awards noted below, granted in 2004 under the Reed Elsevier Group plcBonus Investment Plan, and after taking account of shares withheld to meetpersonal tax and social security obligations, the number of securities notedbelow were released to the directors on 26 March 2007. Following these transactions, the current interest of each director in theordinary share capital of Reed Elsevier PLC and Reed Elsevier NV is as notedbelow. Director No. of Reed No. of Reed No. of Reed No. of Reed Current Current Elsevier PLC Elsevier NV Elsevier PLC Elsevier NV interest in interest in ordinary ordinary ordinary ordinary Reed Reed Elsevier Elsevier PLC NV ordinary shares vested shares vested shares released shares ordinary shares released sharesSir Crispin Davis 39,554 26,421 23,336 15,588 743,806 445,197Mark Armour 19,225 12,842 11,342 7,576 201,250 108,218Gerard van de Aast 31,217 - 18,730 - 121,704 101,754 Director No. of Reed No. of Reed No. of Reed No. of Reed Current Current Elsevier PLC Elsevier NV Elsevier PLC Elsevier NV ADRs vested ADRs vested ADRs released ADRs interest in interest in released Reed Reed Elsevier Elsevier PLC NV ordinary ordinary shares sharesAndrew Prozes 5,026 6,806 2,942 3,984 216,561 159,580Patrick Tierney 4,893 6,626 2,864 3,879 136,352 92,024 The market price of each security at the date of release was 605p (Reed ElsevierPLC ordinary share), €13.25 (Reed Elsevier NV ordinary share), $47.92 (ReedElsevier PLC ADR), and $35.52 (Reed Elsevier NV ADR). The ordinary shares and ADRs required to fulfil the above releases 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. The Trustcurrently holds an interest in 15,308,261 ordinary shares in Reed Elsevier PLCand 7,927,384 ordinary shares in Reed Elsevier NV. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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