14th Jul 2006 17:32
British Land Co PLC14 July 2006 As required by paragraph 9.6.13R of The Listing Rules of the Financial ServicesAuthority, The British Land Company PLC ('the Company') announces that neitherAndrew Jones nor Tim Roberts, who took up their posts as directors of thecompany on 14th July 2006, have any details that are required to be disclosedunder paragraph 9.6.13R (2) to (6) of The Listing Rules. Andrew Jones was a director of Pillar Property PLC when it was publicly quoted. 100% of this company (now renamed British Land Fund Management Limited) waspurchased by British Land on 28th July 2005, and he is still a Director. In addition Andrew Jones has informed the Company that, on his appointment on14th July 2006, he held the following interests in British Land ordinary sharesof 25p each: SAYE scheme: granted on 22/12/05 - 1,162 options at 804p each, exercisablebetween 1/3/09 - 31/8/09; Share Incentive Plan: 414 shares Management Incentive Plan: granted on 17/8/05 - 190,662 options at 387.4p each,exercisable between 28/7/06 - 23/8/08; Long Term Incentive Plan: Awarded 5/12/05 - 5,568 performance shares & 33,953 options (at 994p each),exercisable between 5/12/08 - 4/12/15; Awarded 30/5/06 - 17,372 performance shares & 52,116 options (at 1252p each),exercisable between 30/5/09 - 29/5/16. Tim Roberts has informed the Company that, on his appointment on 14th July 2006,he held 5,586 ordinary British Land shares of 25 p each. He also had thefollowing interests: SAYE scheme: granted on 22/12/04 - 1,679 options at 648p each, 1,169 of whichare exercisable between 1/3/08 - 31/8/08 and 510 exercisable between 1/3/10 - 31/8/10; Share Incentive Plan: 3,287 shares; Long Term Incentive Plan: Awarded 12/12/03 - 10,000 performance shares & 30,000 options (at 502p each),exercisable between 12/12/06 -11/12/13 Awarded 28/5/04 - 7,466 performance shares & 22,398 options (at 663p each),exercisable between 28/5/07 - 27/5/14 Awarded 29/11/04 - 6,218 performance shares & 18,654 options (at 796p each),exercisable between 29/11/07 - 28/11/14 Awarded 31/5/05 - 9,122 performance shares & 13,683 options (at 877p each),exercisable between 31/5/08 - 30/5/15 Awarded 5/12/05 - 6,036 performance shares & 18,108 options (at 994p each),exercisable between 5/12/08 - 4/12/15 Awarded 30/5/06 - 14,376 performance shares & 43,130 options (at 1252p each),exercisable between 30/5/06 - 29/5/16. The British Land Company PLC has also made the following conditional awards toExecutive Directors and Persons Discharging Managerial Responsibilities, of theCompany's Ordinary Shares of 25p each under the Company's Long Term IncentivePlan, on 14th July 2006. Director Options -at 1,316p per share S A M Hester 44,329R E Bowden 16,862G C Roberts 21,565A M Jones 17,372T A Roberts 14,376 Persons Discharging Managerial ResponsibilitiesP C Clarke 11,082A Braine 6,589 The options are conditionally exercisable from the third until the tenthanniversary of grant. Also, on 14th July 2006, Stephen Hester, Graham Roberts, Andrew Jones, TimRoberts and Peter Clarke purchased 9,147, 3,521, 3,430, 3,049 and 990 OrdinaryShares of 25p each respectively at a price of 1,290 p per share, to be heldsubject to the rules of the Company's Matching Share Plan. In accordance withthe rules of the Matching Share Plan, Stephen Hester, Graham Roberts, AndrewJones, Tim Roberts and Peter Clarke were conditionally awarded a right toreceive 32,232, 12,408, 12,084, 10,774 and 3,488 shares respectively at nilconsideration. These awards will conditionally vest on the third anniversary ofgrant, subject, inter alia, to achievement of the performance conditions andcontinued employment. Also, on 14th July 2006, Andrew Jones, was conditionally awarded a right toreceive 170,929 Ordinary Shares of 25p each, at nil consideration, under theCompany's Fund Managers Performance Plan. This award will conditionally vest,subject to any 'claw-back' and subject to continued employment, in three equaltranches on the first, second and third anniversaries of grant. In accordancewith the rules of the Company's Fund Managers Performance Plan, rights over4,527 Performance Shares and options over 27,163 shares at an exercise price of994p per share, awarded to Andrew Jones on 5th December 2005 under the Company'sLong Term Incentive Plan, have now lapsed. It is also announced that The British Land Share Ownership Plan purchased669,775 Ordinary Shares of 25p each of the Company at an average price of1,287.9322 pence per share on 14th July 2006. The British Land Share OwnershipPlan 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. Directors of the Company and Persons Discharging ManagerialResponsibilities, who are participants in these schemes, are consequentlyconsidered to be interested in the shares held by the Trust, as discretionarybeneficiaries. 14th July 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
British Land