1st Oct 2010 11:02
London & Associated Properties PLC ("the Company)
On 1 October 2010 the Company purchased 42,799 shares from Treasury in order to cover requirements of the employee Share Incentive Plan (SIP) and issue of shares to directors.
The Trustee of the SIP will pay cash of £8,769.74 to the Company for 23,702 shares at 37.0p (being last night's closing mid-price) from cash accumulated from dividends which will be distributed to members of the SIP as Dividend Shares.
Directors receiving Dividend Shares in their SIP accounts and their new beneficial holding totals are as follows -
ADDITIONAL NEW TOTAL % OF ISSUED SHARES HOLDING SHARESDirector -R J Corry 1,783 950,686 1.14%J A Heller 1,783 1,911,479 2.29%M C Stevens 1,783 910,485 1.09%PDMR's -Members of staff 18,353TOTAL 23,702 shares
C A Parritt and H D Goldring (non-executive directors) were each awarded £5,000 worth of LAP shares on 22 September 2010 for additional services rendered in 2009. After deduction of Income Tax and National Insurance contributions the net amounts were used to acquire shares from Treasury.
ADDITIONAL NEW TOTAL % OF ISSUED SHARES HOLDING SHARESC A Parritt 10,810 36,001 0.04%H D Goldring 8,287 19,820 0.02%TOTAL 19,097 shares
The Company now holds 2,092,707 shares in Treasury. For reporting purposes under section 198 of the Companies Act 1985 the market should exclude any shares held in Treasury and use an issued share capital figure of 83,450,004 shares.
Date 1 October 2010
For further information, please contact:
Michael Stevens
Director/Secretary London & Associated Properties plc
Telephone number 020 7415 5000
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London & Associated Properties