5th Mar 2014 07:00
ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV
4 March 2014
Director/PDMR Shareholdings
Reed Elsevier announces that it today received notification of the following transactions in the securities of Reed Elsevier by Erik Engstrom, Director, and Ian Fraser and Henry Udow, PDMRs:
(a) Reed Elsevier Group plc Bonus Investment Plan 2010 ("BIP")
Vesting of matching shares
In connection with the vesting on 28 February 2014 of the share awards granted in May 2011 under BIP, the table below shows the total numbers of shares which vested and the numbers of shares actually released to Erik Engstrom, Ian Fraser and Henry Udow after taking account of shares withheld to meet personal tax and national insurance obligations.
No. of Reed Elsevier PLC ordinary shares/ADRs* vested | No. of Reed Elsevier NV ordinary shares/ADRs* vested | No. of Reed Elsevier PLC ordinary shares/ADRs* released | No. of Reed Elsevier NV ordinary shares/ADRs* released | |
Director | ||||
Erik Engstrom | 55,364* | 29,342* | ||
PDMR | ||||
Ian Fraser | 8,097 | 39,346 | 4,291 | 20,853 |
Henry Udow | 37,758 | 20,011 | ||
9,224* | 4,888* |
*Denotes vesting/release of ADRs. Each Reed Elsevier NV ADR represents 2 Reed Elsevier NV ordinary shares. Each Reed Elsevier PLC ADR represents 4 Reed Elsevier PLC ordinary shares.
The closing market price of each security on the date of vesting was £9.155 per Reed Elsevier PLC ordinary share, €15.88 per Reed Elsevier NV ordinary share, $61.48 per Reed Elsevier PLC ADR and $43.67 per Reed Elsevier NV ADR.
(b) Reed Elsevier Group plc Long Term Incentive Plan ("LTIP")
Vesting of performance shares
In connection with the vesting on 28 February 2014 of the share awards granted in May 2011 under LTIP, the table below shows the total numbers of shares which vested and the numbers of shares actually released to Ian Fraser and Henry Udow after taking account of shares withheld to meet personal tax and national insurance obligations.
No. of Reed Elsevier PLC ordinary shares vested | No. of Reed Elsevier NV ordinary shares vested | No. of Reed Elsevier PLC ordinary shares released | No. of Reed Elsevier NV ordinary shares released | |
PDMR | ||||
Ian Fraser | 49,214 | 32,876 | 26,083 | 17,424 |
Henry Udow | 47,209 | 31,536 | 25,020 | 16,714 |
The closing market price of each security on the date of vesting was £9.155 per Reed Elsevier PLC ordinary share and €15.88 per Reed Elsevier NV ordinary share.
(c) Reed Elsevier Group plc Executive Share Option Scheme ("ESOS"): Exercise of Options
The following options to acquire Reed Elsevier ordinary shares were exercised by Erik Engstrom on 4 March 2014.
Date of grant | Plan name | No. of Reed Elsevier PLC ordinary shares | No. of Reed Elsevier NV ordinary shares | Option price per share | |
Director | |||||
Erik Engstrom | 13 March 2006 | ESOS | 178,895 | £5.305 | |
13 March 2006 | ESOS | 120,198 | €11.470 | ||
(d) Sale of shares
On 4 March 2014, Erik Engstrom and Ian Fraser sold the following securities set out below.
No. of Reed Elsevier PLC ordinary shares/ADRs* sold | Price per Reed Elsevier PLC ordinary shares/ADRs** | No. of Reed Elsevier NV ordinary shares/ADRs* sold | Price per Reed Elsevier NV ordinary shares/ADRs** | |
Director | ||||
Erik Engstrom | 174,895 | £9.138158 | 119,198 | €15.7552 |
28,342* | $43.3972** | |||
PDMR | ||||
Ian Fraser | 26,083 | £9.05 | 38,277 | €15.64 |
*Denotes sale of ADRs. Each Reed Elsevier NV ADR represents 2 Reed Elsevier NV ordinary shares.
** Denotes price per ADR
Following these transactions, the current interests of Erik Engstrom in the share capital of Reed Elsevier PLC and Reed Elsevier NV are:
Reed Elsevier PLC 118,552 ordinary shares
Reed Elsevier NV 516,765 ordinary shares
- ENDS -
Enquiries
Paul Abrahams (Media) +44 20 7166 5724
Colin Tennant (Investors)
+44 20 7166 5751
Related Shares:
Relx