Shaftesbury PLC Director/PDMR Shareholding (2796Z)
14 December 2017 - 3:15AM
UK Regulatory
TIDMSHB
RNS Number : 2796Z
Shaftesbury PLC
13 December 2017
Shaftesbury PLC (the "Company")
Director/PDMR shareholding
The following transactions were undertaken on 12 December 2017
by directors of the Company in share schemes:
1. Grant of share awards under the 2017 Long-Term Incentive Plan (the "LTIP")
The following awards over ordinary shares of 25p in the Company
under the 2017 LTIP were made on 12 December 2017:
Name Number of nil
cost options
awarded
--------------- --------------
Brian Bickell 63,110
--------------- --------------
Simon Quayle 44,550
--------------- --------------
Tom Welton 44,550
--------------- --------------
Chris Ward 44,045
--------------- --------------
The awards (which have been granted as nil-cost options) will be
subject to the following performance conditions measured over a
period of three financial years commencing 1 October 2017.
Weighting Threshold Maximum
------------------ ---------- ---------- -----------
Total shareholder 50% Equal to Index +
return relative index 5.5% p.a.
to the FTSE 350
REITs Index
------------------ ---------- ---------- -----------
Net Asset Value 50% RPI + 3% RPI + 7%
growth p.a. p.a.
------------------ ---------- ---------- -----------
25% of the maximum for each component vests
at Threshold. Straight-line vesting between
points
-------------------------------------------------------
Subject to the rules of the LTIP and these performance
conditions, the awards will vest in December 2020 and will then be
subject to an additional two year holding period.
2. Grant of awards under the deferred annual share bonus scheme
The following awards were made in respect of the annual bonus
for the year ended 30 September 2017. The directors below elected
to take their bonus entirely in shares. Shares were acquired at a
price of GBP9.996279 per share and are held in an employee benefit
trust for the three year deferral period.
Name Number of shares
awarded
--------------- -----------------
Brian Bickell 40,440
--------------- -----------------
Simon Quayle 28,556
--------------- -----------------
Tom Welton 28,556
--------------- -----------------
Chris Ward 28,226
--------------- -----------------
3. Exercise of awards under the deferred annual share bonus scheme
Following the vesting of the awards granted in December 2014, in
the deferred annual share bonus scheme, Brian Bickell retained all
shares, setting the income tax and national insurance separately
and the other directors sold sufficient shares to meet income tax
and national insurance liabilities and retained the balance.
Name Number of Number of Number of
shares vesting shares sold shares retained
--------------- ---------------- ------------- -----------------
Brian Bickell 55,304 26,085 29,219
--------------- ---------------- ------------- -----------------
Simon Quayle 39,075 18,430 20,645
--------------- ---------------- ------------- -----------------
Tom Welton 39,075 18,430 20,645
--------------- ---------------- ------------- -----------------
Chris Ward 36,068 17,012 19,056
--------------- ---------------- ------------- -----------------
The ordinary shares were sold at an average price of GBP9.996279
per share.
The changes in Directors' shareholdings resulting from this
transaction are as follows:
Name Number of shares
after transactions
--------------- --------------------
Brian Bickell 1,225,592
--------------- --------------------
Simon Quayle 1,083,452
--------------- --------------------
Tom Welton 877,570
--------------- --------------------
Chris Ward 151,827
--------------- --------------------
Full details on the share schemes may be found in the Company's
2017 Annual Report.
Penny Thomas
Company Secretary
13 December 2017
This information is provided by RNS
The company news service from the London Stock Exchange
END
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