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16 July 2009

Rugby Estates Plc ('Rugby Estates' or the 'Company')

Director Shareholdings, Transfer of Treasury Shares and Total Voting Rights

Rugby Estates announces that awards made to executive Directors and senior management under the Company's Long Term Incentive Plan ('LTIP') in 2006 vested today, the performance conditions having been met.

The awards were satisfied by 164,390 ordinary shares that were held in Treasury by the Company.   

Subsequently, the Company has been informed that certain Directors have today sold ordinary shares in the Company as set out below, in part to satisfy personal tax liabilities arising from the LTIP awards, at £2.30 per share.

Director	Shares Vested under LTIP	Shares Sold	New Shareholding	% of share capital
David Tye	51,753	51,753	1,154,991	8.42%
Andrew Wilson	51,753	51,753	429,152	3.13%
Stephen Jones	28,540	28,540	157,721	1.15%

The LTIP was approved by shareholders at the Company's 2004 AGM. Under the LTIP, 50 per cent of awards are released based upon the Company's total shareholder return over a three year period measured against those companies comprising the FTSE Real Estate Index at the date of award. The remaining 50 per cent of awards are released based upon growth in net assets per share compared to the IPD All Property Capital Growth Index over the same three year period.

Following implementation of the Property Realisation Incentive Plan ('PRIP') and the Value Creation Plan ('VCP'), as approved by shareholders on 15 June 2009, no further awards will be made under the LTIP.  Awards under the PRIP and VCP have now been made in accordance with the allocations proposed, as set out in the announcement on 28 May 2009 and the related circular to shareholders.

The Company also advises that REPESOP Limited, as trustee of the Company's All Employee Share Ownership Plan ('AESOP') has today purchased 25,000 ordinary shares of 12.5p each at £2.30 per share. A further 4,843 ordinary shares held in Treasury have been transferred to REPESOP Limited to satisfy awards by AESOP. Each of the Company's Executive Directors is a potential beneficiary of these shares under past and future awards made under the Company's All Employee Share Plan.

Total Voting Rights

As a consequence of the transfer of Treasury shares as detailed above, the Company's issued capital now comprises 13,709,992 ordinary shares of 12.5p each. There are no ordinary shares remaining in Treasury. Therefore the total number of voting rights in Rugby Estates PLC is now 13,709,992. 

The above figure of 13,709,992 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

For further information: 

 

Rugby Estates Plc  Stephen Jones Company Secretary	+44 (0) 20 7016 0050  www.rugbyestates.plc.uk
Fairfax I.S. PLC  Jeremy Porter Laura Littley	+44 (0) 20 7598 5368
Financial Dynamics  Dido Laurimore Rachel Drysdale	+44 (0) 20 7831 3113

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