Land Securities Group PLC (the "Company") Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwired) -- 08/11/15 -- Land Securities Group PLC (LSE: LAND) (OTC PINK: LSGOF) - The Company provides notification of the following annual share awards granted to the Executive Directors and other PDMRs on 10 August 2015 under the 2015 Long Term Incentive Plan ("LTIP") and Matching Share Plan ("MSP") which affect their interests in the Ordinary shares of nominal value 10p each in the capital of the Company ("Shares").
(1) Both the LTIP and MSP awards will 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 (each of which applies to 50% of each award) for the three-year financial period ending 31 March 2018, as more particularly set out in the Directors Remuneration Report of the Company''s 2015 Annual Report. Vested awards are satisfied through the transfer of market purchased Shares from the Company''s Employee Benefit Trust.
(2) The MSP awards have been granted on a 2:1 matching basis by the Company. Therefore, the individual (or his connected persons) is required to acquire within 30 days of grant and then hold throughout the three-year term Shares equal in value to 50% (net) of the MSP award in order to qualify for the full MSP award. The Executive Directors are not eligible to participate in the MSP.
As a result of and including the above awards, the outstanding aggregate interest in Shares held by each PDMR is as follows:
(3) Pursuant to the rules of the Company''s all-employee Sharesave Plan.
(4) Pursuant to the rules of the Company''s LTIP, MSP and Deferred Share Bonus Plan (as applicable).
(5) These interests are significantly in excess of the required holding levels for the Chief Executive (250% x salary) and Chief Financial Officer (200% x salary) under the Company''s share ownership guidelines.
This notice is given in fulfilment of the Company''s obligation under DTR 3.1.2R.
Michael Arnaouti
Group Company Secretary
+44 (0)20 7024 5219
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Datum: 11.08.2015 - 10:09 Uhr
Sprache: Deutsch
News-ID 1378334
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