Capital & Regional Regulatory News (CAL)

15 August 2014

Capital & Regional plc

RNS Notification pursuant to DTR3.1.4R (1) - Ordinary shares of 1p each

Capital & Regional plc (the "Company") announces that on 14 August 2014 Barclays Wealth Trustee (Guernsey) Limited, the trustee of the Capital & Regional plc Employee Ownership Trust 2002 (the "Trustee") granted the following share awards of ordinary shares of £0.01 under The Capital & Regional plc 2008 Long Term Incentive Plan (the "Plan") to the following Directors of the Company:

Hugh Scott-Barrett 1,283,422

Charles Staveley 598,930

Ken Ford 631,016

Mark Bourgeois 481,283

The exercise price for the awards granted is a maximum of 1p per share. Performance conditions, as measured over the three years from the date of the award, will determine the extent to which the awards will vest and are as disclosed on pages 64-65 of the Company's Annual Report & Accounts 2013. In summary the awards will have a threshold of a share price at the end of the performance period (adjusted for cumulative dividends and distributions paid in the performance period) of 60p and 100% vesting at 85p. Vesting between these two points will be on a straight line basis. A deferral period will apply such that 50% of vested awards will not be capable of exercise for a period of 12 months with the other 50% not being capable of exercise for a further 12 months after that.

In addition to the above newly issued awards the named Directors also hold awards from the issue in August 2013 at levels as disclosed in the Company's Annual Report & Accounts 2013. Separate to this new issue the Remuneration Committee has agreed, as provided for under the terms of the scheme, to increase the number of those shares awarded by 2% to offset the dilutive impact of the £165 million capital raise that completed in July 2014. No adjustment will be made to performance targets.

- ENDS -

For further information: