25th Aug 2006 12:22
Reed Elsevier PLC25 August 2006 25 August 2006 ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV 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. On 23 August 2006 Mr Engstrom exercised a nil cost share award granted to him on23rd August 2004 over 38,593 Reed Elsevier PLC ordinary shares and 26,677 ReedElsevier NV ordinary shares. In order to meet the tax charges arising on theexercise, Mr Engstrom sold on 24 August 2006 28,367 Reed Elsevier PLC ordinaryshares at 559.5p per share. On 6 April 2006 Reed Elsevier announced that Mr Engstrom had purchased 7,509Reed Elsevier PLC American Depositary Shares ("ADRs") (representing 30,036 ReedElsevier PLC ordinary shares) at $38.40279 per ADR, under the Reed ElsevierGroup plc Bonus Investment Plan. We have recently been advised that thisinformation was incorrect and that he purchased 10,030 Reed Elsevier NV ADRs(representing 20,060 Reed Elsevier NV ordinary shares) at $28.7463 per ADR. As a consequence of the above, Mr Engstrom's interest in Reed Elsevier shares is29,479 Reed Elsevier PLC ordinary shares and 73,415 Reed Elsevier NV ordinaryshares. The ordinary shares required to satisfy the above nil cost award have beensatisfied from the Reed Elsevier Employee Benefit Trust (the "Trust"). TheTrust is a discretionary employee benefit trust which is operated in conjunctionwith Reed Elsevier's share option schemes, and which provides for the transferof shares to employees on the exercise of awards granted under the said schemes.Executive directors 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. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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