British Land chief tops up

published 5 March 2009

British Land's chief executive Chris Grigg has spent nearly £800,000 topping up his holding in the property giant.

Grigg bought 242,500 ordinary shares at an average price of 326p per share. If he holds the shares for three years he will get an equal number of shares under the Company's 2009 Co-Investment Share Plan.

The purchase comes three weeks after British Land announced plans to raise £740m through a rights issue at 225p and also sold its 50% stake in the Meadowhall shopping centre in Sheffield for £588m. The shares go ex-rights on 19 March.