10 September 2024
Great Portland Estates plc (the "Company")
Exercise of nil-cost options under The Great Portland Estates Long Term Incentive Plan (the "LTIP")
The Company announces that, on 9 September 2024, the following Directors:
(i) exercised their nil cost options granted under the LTIP on 3 June 2019 over the following numbers of ordinary shares of 15 5/19 pence each in the Company:
| Director | PDMR / Title | No. of ordinary shares of 15 5/19p each acquired upon exercise of options |
| Toby Courtauld | Chief Executive | 22,536 |
| Nick Sanderson | Chief Financial & Operating Officer | 15,505 |
(ii) sold the following numbers of ordinary shares of 15 5/19 pence each in the Company in order to meet the income tax and National Insurance contributions liabilities arising on the exercise of their options at a price of 347.522p per share:
| Director | PDMR / Title | No. of ordinary shares of 15 5/19p each sold for tax/NIC purposes |
| Toby Courtauld | Chief Executive | 10,593 |
| Nick Sanderson | Chief Financial & Operating Officer | 7,288 |
| 1. | Details of PDMR/person closely associated with them ("PCA") | ||
| a) | Name | Toby Courtauld | |
| 2. | Reason for the notification | ||
| a) | Position/status | Chief Executive | |
| b) | Initial notification/amendment | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, action platform, auctioneer or auction monitor | ||
| a) | Name | Great Portland Estates plc
| |
| b) | Legal Entity Identifier | 213800JMEDD2Q4N1MC42 | |
| 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 | Ordinary shares of 15 5/19p ISIN: GB00BF5H9P87 | |
| b) | Nature of the transaction | Exercise of nil cost options granted under the rules of The Great Portland Estates Long Term Incentive Plan. | |
| c) | Price(s) and volume(s) | Price | Volume(s) |
| Ordinary shares | Nil consideration | 22,536 | |
| d) | Aggregated information Aggregated volume Aggregated price Aggregated total | Aggregated volume: 22,536 Aggregated price: Nil Aggregated total: 22,536 ordinary shares | |
| e) | Date of transaction | 9 September 2024 | |
| f) | Place of the transaction | London Stock Exchange (XLON) | |
| 1. | Details of PDMR/person closely associated with them ("PCA") | ||
| a) | Name | Nick Sanderson | |
| 2. | Reason for the notification | ||
| a) | Position/status | Chief Financial & Operating Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, action platform, auctioneer or auction monitor | ||
| a) | Name | Great Portland Estates plc
| |
| b) | Legal Entity Identifier | 213800JMEDD2Q4N1MC42 | |
| 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 | Ordinary shares of 15 5/19 p ISIN: GB00BF5H9P87 | |
| b) | Nature of the transaction | Exercise of nil cost options granted under the rules of The Great Portland Estates Long Term Incentive Plan. | |
| c) | Price(s) and volume(s) | Price | Volume(s) |
| Ordinary shares | Nil consideration | 15,505 | |
| d) | Aggregated information Aggregated volume Aggregated price Aggregated total | Aggregated volume: 15,505 Aggregated price: Nil Aggregated total: 15,505 ordinary shares | |
| e) | Date of transaction | 9 September 2024 | |
| f) | Place of the transaction | London Stock Exchange (XLON) | |
| 1. | Details of PDMR/person closely associated with them ("PCA") | ||
| a) | Name | Toby Courtauld | |
| 2. | Reason for the notification | ||
| a) | Position/status | Chief Executive | |
| b) | Initial notification/amendment | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, action platform, auctioneer or auction monitor | ||
| a) | Name | Great Portland Estates plc
| |
| b) | Legal Entity Identifier | 213800JMEDD2Q4N1MC42 | |
| 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 | Ordinary shares of 15 5/19p ISIN: GB00BF5H9P87 | |
| b) | Nature of the transaction | Sale of shares to meet income tax and National Insurance contributions liabilities arising on the exercise of options granted under the rules of The Great Portland Estates Long Term Incentive Plan. | |
| c) | Price(s) and volume(s) | Price | Volume(s) |
| Ordinary shares | 347.522p | 10,593 | |
| d) | Aggregated information Aggregated volume Aggregated price Aggregated total | Aggregated volume: 10,593 Aggregated price: £3.47522 Aggregated total: £36,813.01 | |
| e) | Date of transaction | 9 September 2024 | |
| f) | Place of the transaction | London Stock Exchange (XLON) | |
| 1. | Details of PDMR/person closely associated with them ("PCA") | ||
| a) | Name | Nick Sanderson | |
| 2. | Reason for the notification | ||
| a) | Position/status | Chief Financial & Operating Officer | |
| b) | Initial notification/amendment | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, action platform, auctioneer or auction monitor | ||
| a) | Name | Great Portland Estates plc
| |
| b) | Legal Entity Identifier | 213800JMEDD2Q4N1MC42 | |
| 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 | Ordinary shares of 15 5/19 p ISIN: GB00BF5H9P87 | |
| b) | Nature of the transaction | Sale of shares to meet income tax and National Insurance contributions liabilities arising on the exercise of options granted under the rules of The Great Portland Estates Long Term Incentive Plan. | |
| c) | Price(s) and volume(s) | Price | Volume(s) |
| Ordinary shares | 347.522p | 7,288 | |
| d) | Aggregated information Aggregated volume Aggregated price Aggregated total | Aggregated volume: 7,288 Aggregated price: £3.47522 Aggregated total: £25,327.40 | |
| e) | Date of transaction | 9 September 2024 | |
| f) | Place of the transaction | London Stock Exchange (XLON) | |
| Contact: Great Portland Estates plc | | | | | | |
Darren Lennark
General Counsel & Company Secretary
020 7647 3000
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