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6 Apr 2009 16:32
LAND SECURITIES GROUP PLC ("the Company")
Announcement to a Regulatory Information Service
6 APRIL 2009
On 30th March 2009, the Executive Directors of the Company were granted awards entitling them to acquire ordinary shares of 10 pence in the Company under the Land Securities 2005 Long Term Incentive Plan.
These awards would normally have been granted in July 2008, but the Executive Directors were precluded from receiving awards between May 2008 and March 2009 as a consequence of being deemed to be "iniders" during that period. These share awards were granted at a share price of £10.9479875976871. This reflects a share price of £12.15 per share as adjusted for the rights issue which was completed on 25 March 2009, being the share price which would have been applied if the awards had been granted in July 2008. The Remuneration Committee decided that the share price prevailing in July 2008 should be used for these awards in order to maintain a consistent approach with employees below board level who were granted awards in July 2008.
The awards will normally vest on the third anniversary of the grant date, subject to continued employment, and the meeting of earnings per share growth and the total property return index performance conditions.
No consideration was paid for the grant of the awards and no payment is due on the vesting and exercise of these awards.
Peter Dudgeon
Company Secretary
6 April 2009
|
Name
|
No of Long Term Incentive Shares Matching Shares
30th March 2009
|
|
Hussey, Mike
|
16,208
|
|
Akers, Richard
|
12,330
|
|
Greenslade, Martin
|
14,654
|
|
Salway, Francis
|
23,434
|
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