30th May 2007 14:15
British Land Co PLC30 May 2007 The Company announces that it received notification yesterday from the Trusteesof The British Land Share Ownership Plan (the 'Trust') that on 29th May 2007 theTrust released 314,025 ordinary 25p shares of the Company to participants in theCompany's Long-Term Incentive Plan (the 'Plan'), pursuant to an award made on28th May 2004, which vested on attainment of the performance target. The Trust is a discretionary Trust established for the benefit of employees,including Executive Directors and Persons Discharging ManagerialResponsibilities of the Company, to facilitate the operation of its shareincentive schemes. Executive Directors and Persons Discharging ManagerialResponsibilities of the Company who are participants in these schemes areconsequently considered to be interested in the shares held by the Trust, asdiscretionary beneficiaries. The Trust also notified the Company yesterday that, of the above shares releasedby the Trust, some were released to Executive Directors and Persons DischargingManagerial Responsibility of the Company as shown in the table below. 293,380options awarded on 28 May 2004 under this Plan also vested yesterday, onattainment of the performance target, for Executive Directors and PersonsDischarging Managerial Responsibility as shown in the table below: Shares at nil consideration Options at 663p per shareDirectorRobert Bowden 41,289 123,868Graham Roberts 33,936 101,809Tim Roberts 7,466 22,398 PDMRTony Braine 7,635 22,907Peter Clarke 7,466 22,398 Following this vesting, on 29th May 2007, Robert Bowden sold 16,929 shares,Graham Roberts sold 13,914 shares, Tim Roberts sold 3,062 shares, Tony Braineexercised 22,907 options and sold 30,542 shares and Peter Clarke sold 7,466shares, all at a price of 1404.9p per share. 30th May 2007. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
British Land