9th Jun 2006 17:02
National Grid Gas Holdings PLC09 June 2006 National Grid Gas Holdings plc ('NGGH') - 9 June 2006 NATIONAL GRID plc ('NG.') SHARE INCENTIVE PLAN (THE "SIP") (Notification of Directors' Interests pursuant to Section 324(2) of theCompanies Act 1985) -------------------------------------------------------------------------------- Under the SIP scheme, operated through Towers Perrin Share Plan Services Limitedas Trustee, employees of National Grid may acquire ordinary shares in NationalGrid plc (NG.) by regular monthly contributions. The current monthly purchase of41,898 NG. ordinary shares under the scheme was confirmed by the Trusteeyesterday, the shares having been purchased in the market on 7 June 2006 at aprice of 599 pence per share, on behalf of some 2,750 participants. The following Directors are beneficiaries of the number of shares purchased ontheir behalf: Director Shares purchased in SIP Resulting total interest Colin Buck 21 Ordinary Shares 90,471 Ordinary Shares Malcolm Cooper 21 Ordinary Shares 162,611Ordinary Shares 2,148 B Shares Mark Fairbairn 21 Ordinary Shares 222,087 Ordinary Shares 6,132 B Shares Steven Holliday 21 Ordinary Shares 487,597 Ordinary Shares The above figures also reflect the Lapse of options under the National GridExecutive Share Option Plan, granted on 18th June 2001 to Colin Buck (11,546shares), and Mark Fairbairn (22,202 shares), whilst Colin Buck has alsoexercised options over 11,908 shares and disposed of them. The options granted in 2001 were subject to a performance condition which wasrequired to be met as a condition of exercise. This performance conditionrequired TSR, measured over a period of three years beginning with the financialyear in which the option was granted, to be at least median compared to acomparator group of companies. However the performance condition was notsatisfied at the end of the first three years of the performance period. It hassubsequently been retested as at 31 March 2005 and 31 March 2006, and as aresult the options have lapsed in full. Contact: D C Forward, NG Assistant Secretary (0207 004 3226) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
National Grid