Beneficial interests of the directors under the Company’s Restricted Share Plan in the ordinary shares of the Company.
| John Ritblat | John Weston Smith | Nicholas Ritblat | Robert Bowden | Graham Roberts | |||||
|---|---|---|---|---|---|---|---|---|---|
| 22.06.01 Grant | 161,943 | 80,971 | 80,971 | 80,971 | |||||
| 09.01.02 Grant | 75,000 | ||||||||
| 23.07.02 Grant | 132,075 | 56,603 | 47 ,169 | 56,603 | 47,169 | ||||
| 22.06.04 Grant* | 80,971 | 40,485 | 40,485 | 40,485 | |||||
| 22.06.04 Release* | (242,914) | (121,456) | (121,456) | (121,456) | |||||
| 10.01.05 Grant** | 37,500 | ||||||||
| 10.01.05 Release** | (112,500) | ||||||||
| 31.03.05 Total | 132,075 | 56,603 | 47,169 | 56,603 | 47,169 | ||||
| Distribution in year to 31.03.04 | £1,287,995 | £642,703 | £641,408 | £642,703 | £16,774 | ||||
| Distribution in year to 31.03.05*** | £1,652,993 | £825,087 | £823,684 | £825,087 | £996,129 |
* These items represent the vesting of the awards made on 22 June 2001 at 150% of their original value on outperformance of the target set. The middle market quotation of the ordinary 25p shares of the Company on 22 June 2001 was 499p per share.
** This item represents the vesting of the award made on 9 January 2002 at 150% of its original value on outperformance of the target set. The middle market quotation of the ordinary 25p shares of Company on 9 January 2002 was 460p per share.
*** The amounts distributed in the year to 31 March 2005 represent the market value of the grants which vested on 22 June 2004 or 10 January 2005 together with dividends arising on the beneficial interests for the year ended 31 March 2005. On release John Weston Smith sold 111,456 shares, Robert Bowden sold 96,456 shares, Nicholas Ritblat sold 34,925 shares and Graham Roberts sold 68,250 shares. The middle market quotation of the ordinary 25p shares of the Company on 22 June 2004 was 673.5p per share and on 10 January 2005 was 878p per share.
The performance target compares the Company’s average annual Net Asset Value Growth over three years against the average annual increase over three years in the capital growth component of the Investment Property Databank Annual Index
(see Remuneration Report).