REG - Land Sec. Group PLC - Director/PDMR Shareholding
RNS Number : 8868ULand Securities Group PLC27 November 2019Land Securities Group PLC
(Company)
Notification of transactions by
Persons Discharging Managerial Responsibilities (PDMRs)
On 26 November 2019, Land Securities Group PLC (Landsec or the Company) was notified of the sale of ordinary shares of the Company by a family member of Robert Noel, Chief Executive. Following the sale, Mr Noel continues to meet his minimum shareholding requirement in the Company.
On 11 July 2019, the Company announced Robert Noel's intention to retire from his role as CEO and, on 22 November 2019, it announced the appointment of Mark Allan as its new Chief Executive to join the Company with effect from a date to be confirmed but by no later than 1 June 2020.
Director
Number of Shares sold
Price per Share
Date of Transaction
Number of shares held after the sale*
Required holding value
Value of shares held after the sale expressed as a multiple of basic salary**
Robert Noel
203,070
£9.457279
26 November 2019
226,417
£2,035,000
264%
*including the value of shares (net of tax and NI) deferred under the Company's deferred bonus share plan
**under the Directors' Remuneration Policy, Mr Noel has an obligation to hold shares to the value of at least 250% of annual basic salary. The value has been calculated on the Company's share price at close of business on 26 November 2019.
The sale of shares is detailed below in accordance with the requirements of the EU Market Abuse Regulation:
1
Details of the person discharging managerial responsibilities
a)
Name
Robert Noel
2
Reason for the notification
a)
Position/status
Chief Executive
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC
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
- GB00BYW0PQ60
b)
Nature of transaction
Sale of Ordinary Shares in the Company ("Shares")
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£9.457279
203,070
d)
Aggregated information
- Aggregated volume
£9.457279
203,070
- Price
Total Price
£1,920,489.65
e)
Date of the transaction
26/11/2019
f)
Place of the transaction
London
Enquiries to: Tim Ashby, Group General Counsel and Company Secretary
Land Securities Group PLC
Tel: 020 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.ENDDSHZDLFLKFFXFBL
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