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CSO - Capital Shopping Centres Group Plc - Issue of Shares and Director and PDMR

Release Date: 09/05/2012 16:45
Code(s): CSO
Wrap Text

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 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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