The information contained is disclosed under DTR 3.1.4R(1).
In accordance with his terms and conditions as Chairman, Lord Burns informed Marks and Spencer Group plc (the “Company”) on 2 January 2008 that he had acquired in London 2664 ordinary shares of 25p each on 2 January 2008 at a price of £5.62per share. The registered holder for these shares is Pershing Keen Nominees Limited.
Further details of this transaction are given below.
His total shareholding following this transaction is 22,227 shares.
Additional information
On 25 January 2006 Lord Burns requested to purchase Ordinary Shares of 25p each in the Company on a regular basis using approximately 25% of his net income from the Company. The Company was not in a close period and Lord Burns does not retain discretion as to the timing or the size of the purchases. His appointment letter binds him to make purchases of a particular monetary value on particular dates as given below:
|
Date of Purchase* |
Value of Shares |
Period covered by Purchase |
|
1 April 2006 |
£6,000 |
January to March 2006 |
|
1 July 2006 |
£6,000 |
April to June 2006 |
|
1 October 2006 |
£15,000 |
July to September 2006 |
|
1 January 2007 |
£15,000 |
October to December 2006 |
|
2 April 2007 |
£15,000 |
January to March 2007 |
|
Then to purchase £15,000 of shares on 1st of the month of each subsequent quarter |
* Purchases to be made on 1st of the month or next dealing day as appropriate
No subsequent permission will be required to be sought for quarterly dealings as given above. However, any variation to this arrangement would be brought back to the Company’s Shares and Dealing Committee for approval at a time which is not during a close period.
For further information please call:
Andrew Green
Corporate Governance
020 8718 9984
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