TIDMLAND

RNS Number : 8868U

Land Securities Group PLC

27 November 2019

Land 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      Price         Date of       Number       Required holding  Value of shares 
            of Shares   per Share     Transaction   of shares    value             held after the 
            sold                                    held after                     sale expressed 
                                                    the sale*                      as a multiple 
                                                                                   of basic salary** 
Robert                               26 November 
 Noel      203,070      GBP9.457279   2019         226,417      GBP2,035,000      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          *    Shares 
        Identification code 
      -------------------------------------  ------------------------------- 
 
                                                *    GB00BYW0PQ60 
      -------------------------------------  ------------------------------- 
 b)    Nature of transaction                  Sale of Ordinary Shares 
                                               in the Company ("Shares") 
      -------------------------------------  ------------------------------- 
 c)    Price(s) and volume(s)                 Price(s)            Volume(s) 
      -------------------------------------  ------------------  ----------- 
 
                                              GBP9.457279         203,070 
 ------------------------------------------  ------------------  ----------- 
 d)    Aggregated information 
      -------------------------------------  ------------------  ----------- 
  - Aggregated volume                         GBP9.457279         203,070 
 ------------------------------------------  ------------------  ----------- 
       - Price                                Total Price 
                                               GBP1,920,489.65 
      -------------------------------------  ------------------  ----------- 
 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.

END

DSHZDLFLKFFXFBL

(END) Dow Jones Newswires

November 27, 2019 09:34 ET (14:34 GMT)

Land Securities (LSE:LAND)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas Land Securities.
Land Securities (LSE:LAND)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas Land Securities.