Director's Dealing • Nov 27, 2019
Director's Dealing
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National Storage Mechanism | Additional information
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 of Shares sold | Price per Share | Date of Transaction | Number of shares held after the sale* | Required holding value | Value of shares held after the sale expressed as a multiple of basic salary** |
| Robert Noel | 203,070 | £9.457279 | 26 November 2019 | 226,417 | £2,035,000 | 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 Identification code | - Shares | ||
| - GB00BYW0PQ60 | ||||
| b) | Nature of transaction | Sale of Ordinary Shares in the Company ("Shares") | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| £9.457279 | 203,070 | |||
| d) | Aggregated information | |||
| - Aggregated volume | £9.457279 | 203,070 | ||
| - Price | Total Price £1,920,489.65 |
|||
| 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 [email protected] or visit www.rns.com.
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