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British Land Co PLC - Director/PDMR Shareholding

RNS Number : 7876Q
British Land Co PLC
23 June 2020
 

Long-Term Incentive Plan ('LTIP') Grant and Restricted Share Plan ('RSP') Award

The British Land Company PLC (the 'Company') announces that on 22 June 2020:

·    under the LTIP, conditional awards of the Company's ordinary shares of 25 pence each ('Performance Shares') were granted to Executive Directors and other Persons Discharging Managerial Responsibilities ('PDMRs'); and

·    under the RSP, conditional awards ('Restricted Shares') of the Company's ordinary shares of 25 pence each were awarded to PDMRs

as outlined below.

 

The Remuneration Committee exercised discretion and reduced the LTIP grant size by 10% to reflect the current share price relative to the share price in recent years.  This reduction resulted in the Executive Directors receiving an LTIP award of 225% of salary, reduced from 250% of salary.

 


Performance Shares at nil consideration


Directors



Chris Grigg

476,807


Simon Carter

272,812






Performance Shares at nil consideration

Restricted Shares

PDMRs



Emma Cariaga

52,512

23,338

Stacey Clark

30,362

13,494

Ann Henshaw

49,648

22,065

Sally Jones

73,457

32,647

David Lockyer

52,512

23,338

Brona McKeown

53,563

23,805

Roger Madelin

54,634

24,282

Darren Richards

73,457

32,647

Nigel Webb

57,366

25,496

The above Performance Shares conditionally vest on the third anniversary of grant, subject to performance conditions.  Those conditions are based 40% on Total Property Return, 20% on Total Accounting Return and 40% on Total Shareholder Return (20% against a FTSE100 comparator group and 20% against a FTSE350 property comparator group).

The Restricted Shares conditionally vest on the third anniversary of the award.  No performance conditions attach to the Restricted Shares.

These transactions took place outside of a trading venue.

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 

1.    Chris Grigg

2.    Simon Carter

3.    Emma Cariaga

4.    Stacey Clark

5.    Ann Henshaw

6.    David Lockyer

7.    Roger Madelin

8.    Brona McKeown

9.    Sally Jones

10.  Darren Richards

11.  Nigel Webb

 

2

Reason for the notification

a)

Position/status

 

1.    PDMR - Chief Executive Officer

2.    PDMR - Chief Financial Officer

3.    PDMR - Executive Committee member

4.    PDMR - Executive Committee member

5.    PDMR - Executive Committee member

6.    PDMR - Executive Committee member

7.    PDMR - Executive Committee member

8.    PDMR - Executive Committee member

9.    PDMR - Executive Committee member

10.  PDMR - Executive Committee member

11.  PDMR - Executive Committee member

 

b)

Initial notification/Amendment

 

Initial notification

3

Details of the issuer; emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 

The British Land Company PLC

b)

LEI

 

RV5B68J2GV3QGMRPW209

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of financial instrument, type of financial instrument

 

Identification code

 

Ordinary shares of 25 pence each

 

 

 

GB0001367019

 

b)

Nature of the transaction

 

Grant of conditional Performance Share Award under the Long Term Incentive Plan scheme

 

c)

Price(s) and volume(s)

 

 

Price(s) (pence)

Volume(s)

1.    Nil

2.    Nil

3.    Nil

4.    Nil

5.    Nil

6.    Nil

7.    Nil

8.    Nil

9.    Nil

10.  Nil

11.  Nil

1.    476,807

2.    272,812

3.    52,512

4.    30,362

5.    49,648

6.    52,512

7.    54,634

8.    53,563

9.    73,457

10.  73,457

11.  57,366

 

d)

Aggregated information

-      Aggregated volume

-      Price

 

 

N/A (single transaction)

e)

Date of the transaction

 

2020-06-22

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 

1.    Emma Cariaga

2.    Stacey Clark

3.    Ann Henshaw

4.    David Lockyer

5.    Roger Madelin

6.    Brona McKeown

7.    Sally Jones

8.    Darren Richards

9.    Nigel Webb

 

2

Reason for the notification

a)

Position/status

 

1.    PDMR - Executive Committee member

2.    PDMR - Executive Committee member

3.    PDMR - Executive Committee member

4.    PDMR - Executive Committee member

5.    PDMR - Executive Committee member

6.    PDMR - Executive Committee member

7.    PDMR - Executive Committee member

8.    PDMR - Executive Committee member

9.    PDMR - Executive Committee member

 

b)

Initial notification/Amendment

 

Initial notification

3

Details of the issuer; emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 

The British Land Company PLC

b)

LEI

 

RV5B68J2GV3QGMRPW209

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of financial instrument, type of financial instrument

 

Identification code

 

Ordinary shares of 25 pence each

 

 

 

GB0001367019

 

b)

Nature of the transaction

 

Grant of conditional share awards under the Restricted Share Plan scheme

 

c)

Price(s) and volume(s)

 

 

Price(s) (pence)

Volume(s)

1.    Nil

2.    Nil

3.    Nil

4.    Nil

5.    Nil

6.    Nil

7.    Nil

8.    Nil

9.    Nil

 

1.    23,338

2.    13,494

3.    22,065

4.    23,338

5.    24,282

6.    23,805

7.    32,647

8.    32,647

9.    25,496

 

d)

Aggregated information

-      Aggregated volume

-      Price

 

N/A (single transaction)

e)

Date of the transaction

 

2020-06-22

f)

Place of the transaction

 

Outside of a trading venue

 

This notification is made in accordance with the requirements of the EU Market Abuse Regulation.  The Identification Code for ordinary shares of 25 pence each in the Company is GB0001367019.

 

Enquiries


Company Secretariat

0207 486 4466

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: British Land

Price: 366.3

Market: LSE
Market Cap: £3.39 billion
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