30th Sep 2005 14:20
Reed Elsevier PLC30 September 2005 30 September 2005 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 29 September 2005 Mr Engstrom exercised a nil cost share award granted to himon 23rd August 2004 over 38,595 Reed Elsevier PLC shares and 26,678 ReedElsevier NV shares. In order to meet the tax charges arising on the exercise,Mr Engstrom sold on the same day 28,426 Reed Elsevier PLC ordinary shares at524.5p per share. As a consequence of the above transactions, Mr Engstrom's interest in ReedElsevier shares has increased to 19,253 Reed Elsevier PLC and 26,678 ReedElsevier NV ordinary shares. The ordinary shares required to satisfy the above award have been satisfied fromthe Reed Elsevier Employee Benefit Trust (the "Trust"). Following thetransaction, the Trust now holds 9,554,702 ordinary shares in Reed Elsevier PLCand 4,964,200 ordinary shares in Reed Elsevier NV. The Trust is a discretionaryemployee benefit trust which is operated in conjunction with Reed Elsevier'sshare option schemes, and which provides for the transfer of shares to employeeson the exercise of awards granted under the said schemes. Executive directors ofReed Elsevier PLC and Reed Elsevier NV are, for technical disclosure purposes,deemed to be interested in the shares held by the Trust, by virtue of beingpotential beneficiaries under the Trust. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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