The Financial Services Authority recently clarified the disclosure obligations for PDMRs who grant security over their shareholdings.
Dame Marjorie Scardino informed the board on 9 December 2008 that between March 2006 and May 2008 she granted security to HSBC over part of her holding in Pearson ordinary shares, along with a range of other assets, to secure personal borrowings.
At the close of business on 22 January 2009, this arrangement covered 216,668 shares representing less than 0.03% of the total number of Pearson ordinary shares in issue. As of today, her total shareholding in Pearson was 632,755 ordinary shares, equivalent to 0.078% of Pearson's issued share capital.
The voting and dividend rights relating to these shares have remained with Dame Marjorie at all times. She does not anticipate the security ever being realised, and she therefore expects to retain the full beneficial ownership of these shares.