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Written by rosalind renshaw

LSL Property Services, owners of Reeds Rains and Your Move, has given nine of its senior directors thousands of shares that could collectively be worth around £1.64m in three years’ time.

In an announcement to the London Stock Exchange, LSL said that the directors will be able to capitalise on their share options once the share price hits at least £3.20. Currently, the shares are trading at around £2.50.

The directors must also meet performance targets by March 31, 2014. These relate to shareholder return, and earnings per share must grow by more than 10% per annum.

A joint share ownership plan of the type that LSL is exercising allows a business to award share options that can be exercised once performance targets are met, entitling the directors to pick up the growth in the value of the shares.

CEO Simon Embley, who has received 203,665 shares worth potentially £651,728, has set ambitious growth targets for the group’s estate agency, financial services and surveying divisions. He said that some of the growth could be by acquisitions.

He said: “We do buy firms fairly frequently, but we are also very keen that when we do buy, it is a value business. I don’t believe we need to buy in order to grow, but if the right business comes around, we will buy it with the cash that we generate and money raised from our drawdown agreement with our bank.”

Other directors who have received shares include David Newnes, executive director of the estate agency division, who received 57,026 shares worth a potential £182,483, and Nigel Favas, managing director of Reeds Rains, who has received 8,146 shares, potentially worth £26,067.

LSL’s pre-tax profits for 2010 rose 52% on 2009 to £25.8m.

Comments

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    Mr Livesey - then I am sad, I must admit.

    Look at it this way. Someone hijacked your name (albeit in a dyslexic or simply illiterate style...). Did what they say therefore carry MORE weight than, say, calling themselves 'John Smith' or 'Razzmatazz'? Did people think of YOU when they read the words of the poster?

    No. A post is a post. It is either remembered or dismissed; agreed with or disagreed with - in which case it may invoke further debate. THAT is the whole point of the exercise.

    Yes - a post by PBK, or Eric Walker gets read. But so do those by AceofSpades; wardy, Country Lass, and a host of others who produce statements that are, in the main, bang on the money. Part of the fun is trying to figure WHO they might be...

    You will be pleased to note that, up to the point of your posting, YOU are the only one to have taken ANY NOTICE of the post (of course, that has now changed...).

    As I am happy to enjoy the anonymity afforded to me to post on this site, I am happy to respect the wish for anonymity of others. HOWEVER, the use of a 'cloak of invisibility' simply to post inflaming comments or slanderous posts should be discouraged, and I would be quite happy to sign up to whatever means the site owners decide will stop individuals posting such detritus.

    As I have said before, PeeBee is far more memorable than my birth name. It also gives the occasional berk the opportunity to have a sly dig that my real name may not so easily offer them - remember they have evident limited ability in the first place!

    • 15 April 2011 13:07 PM
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    Fair comments PeeBee.
    It's just a bit sad that grown adults feel the need to be anonymous in a business debate. I don't get it.
    The Real David Livesey

    • 15 April 2011 10:09 AM
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    (The real) David Livesey:

    "Or better still, stop them from blogging anonymously. Why would anyone want to be anonymous when posting comments on a business-focussed website relating to their profession?"

    Unfortunately, Sir, this site is frequented by many people including non-Agents (of which I am one, although I was one until 2007...). There is also a temptation for many to assume the identities of others to make smart-a$$ points (of which my screen identity has also been victim...). I have no reason to NEED to post anonymously - I simply choose to do so and my comments would be no different if I used my full name - as I do elsewhere. I am simply a nobody in the Agency world, hence my name is immaterial.

    There ARE, however, many ACTIVE Agents who post here anonymously, by choice. Whatever THEIR reasoning for anonymity is immaterial - however I would strongly suggest that their input is what makes this site so interesting to the readers, which would be counterproductive to the site.

    Of course, there IS a slim chance that someone called "David Liivesey" just happened to post here...

    If, however, you are unhappy, and believe that the post was meant as a swipe at yourself (which I can appreciate...) report the post to Site Admin. They react quickly, I can assure you. I have asked for several to be removed (including two of my own!) for various reasons and they always oblige as long as the reason is justified.

    Remember the old saying that "Imitation is the sincerest form of flattery". At least people know YOUR name!

    Whilst I know Rosalind reads many of the posts, she cannot be expected to pick up every one personally, so she may well miss yours. An email is usually responded to in minutes, her schedule willing.

    Anonymous regards

    PeeBee

    • 15 April 2011 09:32 AM
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    Rosalind, can you please stop people from posting blogs using other people's names?
    Or better still, stop them from blogging anonymously. Why would anyone want to be anonymous when posting comments on a business-focussed website relating to their profession?
    The Real David Livesey

    • 15 April 2011 08:08 AM
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    Its just greed and dilutes shareholder investors. But then, again tough luck for investing in such as business in the first place.

    • 14 April 2011 12:29 PM
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    Is this the taxpayers money that was paid to them to take Halifax Estate Agents ? If so I am very pleased to contribute to all these lucky people

    • 14 April 2011 11:28 AM
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    So a share option scheme then. Good job their PR company works better than many of thier branches or we would never have know such fantastic news. Pretty standard for a listed compnay, strange oinly just doing it?

    • 13 April 2011 14:41 PM
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    I say good luck to them - why not... From what I can tell we are all going to need it.

    • 13 April 2011 12:30 PM
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    "COULD" BEING THE OPERATIVE WORD, our local RR branch is the worst choice and has the lowest stock of any. they were that desperate at the end of last year they offered a 0.5% fee which actually backfired on them.

    • 13 April 2011 07:28 AM
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