| Wed 9 May 2012, 16:45 | | CSO - Capital Shopping Centres Group Plc - Issue of Shares and Director and PDMR |
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CSO
CSO
CSO - Capital Shopping Centres Group Plc - Issue of Shares and Director and PDMR
Shareholding
CAPITAL SHOPPING CENTRES GROUP PLC
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code: CSO
CAPITAL SHOPPING CENTRES GROUP PLC
9 May 2012
CAPITAL SHOPPING CENTRES GROUP PLC (the "Company")
ISSUE OF SHARES AND DIRECTOR AND PDMR SHAREHOLDING
An application has been made to the UK Listing Authority, the London Stock
Exchange and the Johannesburg Stock Exchange for 4,790,134 ordinary shares of 50
pence each (the "New Shares"), allotted to the Trustee of the Company`s Employee
Share Ownership Plan (the "Trustee") in connection with the Capital Shopping
Centres Group PLC Unapproved Share Option Scheme (the "Scheme"), to be admitted
to the Official List. The New Shares will be held in trust and will be used to
satisfy future option exercises under the terms of the Scheme.
It is expected that permission to admit the New Shares will be granted on 11 May
2012 and that dealings will commence on 14 May 2012. The New Shares will rank
pari passu in all respects with the Company`s existing issued ordinary shares.
Under the terms of the Scheme, all participants may be invited to participate in
the Joint Share Ownership Plan ("JSOP") which forms part of the Scheme and
offers a tax efficient alternative to holding options in return for an upfront,
non-refundable tax charge incurred by the participant. The JSOP is cost-neutral
to the Company and structured in a manner acceptable to the ABI and RREV. Under
the JSOP shares are held jointly by the employee and the Trustee with any
increases in the share price and dividends paid on those shares being allocated
between the joint owners in accordance with the terms of the Scheme. Conditions
for exercise (including satisfaction of any performance conditions), forfeiture
and lapsing are the same as for options granted under the Scheme.
On 8 May 2012, the Company received valid elections from Executive Directors and
PDMRs in respect of unapproved options granted to them in 2011 and 2012 as set
out below (the original unapproved option grants are replaced by the joint share
ownership interests):
Original Unapproved Option Grant,
now transferred to a JSOP Interest
Directors: 2011 Option 2012 Option
price price
(per (per
share) share)
David Fischel 350,000 GBP3.87 309,000 GBP3.36
Matthew Roberts 250,000 GBP3.87 238,000 GBP3.36
PDMRs:
Mike Butterworth 217,429 GBP3.87 204,000 GBP3.36
Martin Ellis 120,000 GBP3.87 109,000 GBP3.36
Hugh Ford 150,000 GBP3.87 153,000 GBP3.36
Susan Marsden 75,000 GBP3.87 80,000 GBP3.36
Gordon McKinnon 92,429 GBP3.87 50,000 GBP3.36
Trevor Pereira 120,000 GBP3.87 109,000 GBP3.36
Julian Wilkinson 92,429 GBP3.87 74,000 GBP3.36
Enquiries:
Susan Marsden
Company Secretary
Capital Shopping Centres Group PLC
+44 (0)20 7887 7073
Sponsor:
Merrill Lynch SA (Pty) Ltd
Date: 09/05/2012 16:45:01 Produced by the JSE SENS Department.
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