Land Securities Group PLC
(Company)
Notification of transactions by
Persons Discharging Managerial Responsibilities (PDMRs)
On 24 July 2020, the PDMRs listed below (who are all Executive Directors) acquired an interest in Options over the Company's Shares following the grant of awards. Martin Greenslade and Colette O'Shea were granted awards under the Company's Deferred Share Bonus Plan (DSB) and the Company's Long-Term Incentive Plan (LTIP). Mark Allan was granted awards under the Company's LTIP. The numbers of Options were calculated by reference to a price of £5.472, being the Company's middle market closing price for a Share on 23 July 2020.
DSB: Awards granted in accordance with the Company's DSB follow the deferral of 100% of the PDMR's bonus entitlement for the year ended 31 March 2020. Subject to continued employment with Landsec, the PDMRs will become entitled to exercise the Options arising from the DSB between 24 July 2021 and 23 July 2025.
LTIP: LTIP 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 for the three-year financial period ending 31 March 2023. The figures shown below are the maximum entitlement should the awards vest in full. Subject to continued employment with Landsec and the scheme rules, the PDMRs will become entitled to exercise the Options arising from the LTIP between 24 July 2023 and 23 July 2030.
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1 |
Details of the person discharging managerial responsibilities |
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a) |
Name |
Mark Allan |
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2 |
Reason for the notification |
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a) |
Position/status |
Chief Executive |
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b) |
Initial notification/Amendment |
Initial |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Land Securities Group PLC |
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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 |
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a) |
Description of the financial instrument, type of instrument Identification code |
- Shares |
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- GB00BYW0PQ60 |
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b) |
Nature of transaction |
Award of Nil Cost Options over the Company's Shares under the Long Term Incentive Plan. |
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c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
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£5.472 |
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d) |
Aggregated information |
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- Aggregated volume |
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- Price |
Total Price £2,400,000 |
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e) |
Date of the transaction |
24/07/2020 |
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f) |
Place of the transaction |
N/A |
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1 |
Details of the person discharging managerial responsibilities |
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a) |
Name |
Martin Greenslade |
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2 |
Reason for the notification |
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a) |
Position/status |
Chief Financial Officer |
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b) |
Initial notification/Amendment |
Initial |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Land Securities Group PLC |
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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 |
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a) |
Description of the financial instrument, type of instrument Identification code |
- Shares |
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|
- GB00BYW0PQ60 |
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b) |
Nature of transaction |
Award of Nil Cost Options over the Company's Shares under the Deferred Share Bonus Plan. |
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c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
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£5.472 |
65,400
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d) |
Aggregated information |
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- Aggregated volume |
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- Price |
Total Price £357,872
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e) |
Date of the transaction |
24/07/2020 |
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f) |
Place of the transaction |
N/A |
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1 |
Details of the person discharging managerial responsibilities |
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a) |
Name |
Martin Greenslade |
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2 |
Reason for the notification |
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|
a) |
Position/status |
Chief Financial Officer |
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b) |
Initial notification/Amendment |
Initial |
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|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||
|
a) |
Name |
Land Securities Group PLC |
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|
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 the financial instrument, type of instrument Identification code |
- Shares |
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|
|
- GB00BYW0PQ60 |
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b) |
Nature of transaction |
Award of Nil Cost Options over the Company's Shares under the Long Term Incentive Plan. |
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c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
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£5.472 |
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d) |
Aggregated information |
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- Aggregated volume |
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- Price |
Total Price £1,590,000 |
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e) |
Date of the transaction |
24/07/2020 |
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f) |
Place of the transaction |
N/A |
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1 |
Details of the person discharging managerial responsibilities |
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a) |
Name |
Colette O'Shea |
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2 |
Reason for the notification |
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a) |
Position/status |
Managing Director, London and Retail Portfolios |
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b) |
Initial notification/Amendment |
Initial |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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|
a) |
Name |
Land Securities Group PLC |
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|
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 the financial instrument, type of instrument Identification code |
- Shares |
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|
- GB00BYW0PQ60 |
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b) |
Nature of transaction |
Award of Nil Cost Options over the Company's Shares under the Deferred Share Bonus Plan. |
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c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
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£5.472 |
60,463
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d) |
Aggregated information |
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- Aggregated volume |
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- Price |
Total Price £330,854 |
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e) |
Date of the transaction |
24/07/2020 |
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f) |
Place of the transaction |
N/A |
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|
1 |
Details of the person discharging managerial responsibilities |
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|
a) |
Name |
Colette O'Shea |
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2 |
Reason for the notification |
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a) |
Position/status |
Managing Director, London and Retail Portfolios |
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b) |
Initial notification/Amendment |
Initial |
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|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||
|
a) |
Name |
Land Securities Group PLC |
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|
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 the financial instrument, type of instrument Identification code |
- Shares |
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|
|
- GB00BYW0PQ60 |
|||
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b) |
Nature of transaction |
Award of Nil Cost Options over the Company's Shares under the Long Term Incentive Plan. |
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c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
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£5.472 |
219,298 |
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d) |
Aggregated information |
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- Aggregated volume |
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- Price |
Total Price £1,200,000 |
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e) |
Date of the transaction |
24/07/2020 |
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f) |
Place of the transaction |
N/A |
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For further information, please contact:
Land Securities Group PLC
Tim Ashby
Group General Counsel & Company Secretary
Tel: +44(0) 20 7024 5256
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 rns@lseg.com or visit www.rns.com.
