UAI.L Regulatory News (UAI)

9 May 2007 14:25

Development Securities PLC09 May 2007 Development Securities PLC makes awards under its Performance Share Plan 2006 Development Securities PLC yesterday (8th May 2007) made the following awards,at nil cost, to the Executive Directors of the Company under its PerformanceShare Plan 2006 (the "Plan"), which was approved by shareholders at the AnnualGeneral Meeting on the 11th May 2006: Conditional Award of Shares M H Marx 71,469C J Barwick 42,717M S Weiner 42,717 The vesting of the shares, representing ordinary shares of 50p each in theCompany, is conditional on the satisfaction of a performance condition measuringDevelopment Securities PLC's total shareholder return ("TSR") against theconstituent members of the FTSE Real Estate Index during the period from 1stJanuary 2007 to 31st December 2009: (i) 25 per cent of the award will vest if the Company TSR equals the median TSR of the comparator group; (ii) 100 per cent of the award will vest if the Company TSR equals or exceeds the 85th percentile TSR of the comparator group; (iii)Pro rata vesting will apply in between the above points. In addition the Remuneration Committee must be satisfied that there has been asustained improvement in the Company's underlying financial performance over theperformance period. These are the second awards made under the Plan. S A LanesCompany Secretary020 7828 47779th May 2007 This information is provided by RNS The company news service from the London Stock Exchange