SOURCE: Land Securities Group PLC

July 11, 2016 07:00 ET

Land Securities Group PLC: Director/PDMR Shareholding

LONDON, UNITED KINGDOM--(Marketwired - Jul 11, 2016) -  Land Securities Group PLC (LSE: LAND) (OTC PINK: LSGOF)

LSE: LAND; OTC: LSGOF

Land Securities Group PLC 
("Company")

Notification of transactions by
Persons Discharging Managerial Responsibilities ("PDMRs")

The Company provides notification of the following transactions effected on 8 July 2016 in respect of the following Executive Directors and other PDMRs relating to their interests in the ordinary shares of nominal value 10p each in the capital of the Company ("Shares").

The transactions arise from the partial vesting, and subsequent part or all sale, of Shares pursuant to certain performance conditioned awards made to the PDMRs on 8 July 2013 under the rules of the Company's Long-Term Incentive Plan ("LTIP") and Matching Share Plan ("MSP"), as applied at the time.

                 
Vesting, sale and retention of Shares on 8 July 2016 of LTIP and MSP awards Name (title)   Total number of Shares vesting 12   Shares compulsorily sold at 962p per share3   Shares voluntarily
sold at 962p per share
  Shares
retained
Robert Noel,
(Chief Executive)
  29,596   13,939   -   15,657
Martin Greenslade
(Chief Financial Officer)
  20,020   9,411   10,609   -
Colette O'Shea
(MD, London Portfolio)
  7,578   3,569   -   4,009
Scott Parsons
(MD, Retail Portfolio)
  6,471   3,048   -   3,423
                 
1 Satisfied through the transfer of market purchased Shares from the Company's Jersey-based Employee Benefit Trust.
2 Both the LTIP and MSP awards normally vest on the third anniversary of grant subject to the Company's achievement of certain Total Shareholder Return and Total Property Return performance conditions (which apply to each 50% of the award) for the three-year financial period ended 31 March 2016, as more particularly set out in the Directors' Remuneration Report to the Company's 2016 Annual Report. The Company's performance achievement resulted in an aggregate vesting of 13.1% of the maximum award (as reported).
3 To cover the individual's personal tax and social security liability that arises on vesting.

As a result of and including the above transactions, the outstanding aggregate interest in Shares held by each individual is as follows:

           




Name
Interest in Shares under option4   Interest in Shares under long-term incentives5   Shares owned
(including those held by connected persons)
Robert Noel -   666,117   293,8496
Martin Greenslade 1,938   439,453   386,2336
Colette O'Shea 2,195   224,037   43,168
Scott Parsons 4,366   212,580   53,490
4 Pursuant to the rules of the Company's all-employee Savings-Related Share Option Plan.
5 Pursuant to the rules of the Company's discretionary Long-Term Incentive Plan, Matching Share Plan and Deferred Share Bonus Plan (as applicable).
6 These interests are in significantly in excess of the holding levels required under the Company's share ownership guidelines (i.e. 250% x salary for the Chief Executive and 200% x salary for the Chief Financial Officer).

This notice is given in fulfilment of the Company's obligation under DTR 3.1.2R.

Contact Information

  • Land Securities contact:

    Michael Arnaouti
    +44 (0)20 7024 5219
    Deputy Company Secretary