Director/PDMR Shareholding

1.

Details of PDMR / person closely associated with them ('PCA')

a)

Name

Georgina Pope

b)

Position / status

Company Secretary

c)

Initial notification / amendment

Initial notification

2.

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

Ordinary Shares

b)

Nature of the transaction

Sale of Ordinary Shares

c)

Price(s) and volume(s)

 11,000 ordinary shares @ 135.5p per share

d)

Aggregated information

Aggregated volume Price

N/A - single transaction

e)

Date of the transaction

31.08.2016

f)

Place of the transaction

 United Kingdom