Director/PDMR Shareholding

RNS Number : 1446H

Drax Group PLC

08 March 2018

 

8 March 2018

DRAX GROUP PLC

Symbol: DRX

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

The notifications below are all in accordance with the requirements of Article 19 (3) of the EU Market Abuse Regulation 596/2014 and the dealings were in respect of ordinary shares of 11 ¹⁶/₂₉ pence each in the share capital of Drax Group plc.

On 5 March 2018, awards over shares were made under the Drax Group plc Deferred Share Plan ("DSP") and performance share awards made under the Drax Group plc Performance Share Plan ("PSP"). Consequently, the share interests of the under-noted directors and persons discharging managerial responsibility have changed following the making of these awards.

The deferred awards, made under the DSP for nil consideration as conditional awards, were made in respect of the deferred element of the annual bonus for 2017.  Vesting of the deferred award shares is normally deferred for three years and subject to the participant remaining in employment until the vesting date. 

The performance awards, made for nil consideration under the PSP, are conditional awards and vesting is subject to performance conditions (relative total shareholder return (50% of each award) and average corporate balanced scorecard (50% of each award)) established in accordance with the rules of the PSP and measured over a three year period commencing on 1 January 2018.  

Director/PDMR	Number of shares over which Deferred Awards made	Number of shares over which Performance Awards made
Will Gardiner	40,327	363,725
Andy Koss	32,055	218,063
Clare Harbord	-	98,039
Jonathan Kini	-	98,039

There were 407,034,896 shares in issue at the time of this notification.

The information below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Will Gardiner
2.	Reason for the notification
a)	Position / status	Group Chief Executive
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Drax Group plc
b)	LEI	549300YPSNTXR4ZHSR98
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument Identification code	Ordinary shares of 11 16/29 pence GB00BIVNSX38
b)	Nature of the transaction	(i) Deferred awards made pursuant to the Drax Group plc Deferred Share Plan ("DSP") (ii) Performance awards made pursuant to the Drax Group plc Performance Share Plan ("PSP")
c)	Price(s) and volume(s)	Price(s) Volume(s) (i) nil 40,327 (ii) nil 363,725
d)	Aggregated information -      Aggregated volume -      Price	404,052 nil
e)	Date of the transaction	5 March 2018
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Andy Koss
2.	Reason for the notification
a)	Position / status	Chief Executive, Drax Power
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Drax Group plc
b)	LEI	549300YPSNTXR4ZHSR98
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument Identification code	Ordinary shares of 11 16/29 pence GB00BIVNSX38
b)	Nature of the transaction	(i)            Deferred awards made pursuant to the Drax Group plc Deferred Share Plan ("DSP") (ii)           Performance awards made pursuant to the Drax Group plc Performance Share Plan ("PSP")
c)	Price(s) and volume(s)	Price(s) Volume(s) (i) nil 32,055 (ii) nil 218,063
d)	Aggregated information -      Aggregated volume -      Price	250,118 nil
e)	Date of the transaction	5 March 2018
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Clare Harbord
2.	Reason for the notification
a)	Position / status	Director of Corporate Affairs
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Drax Group plc
b)	LEI	549300YPSNTXR4ZHSR98
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument Identification code	Ordinary shares of 11 16/29 pence GB00BIVNSX38
b)	Nature of the transaction	Performance awards made pursuant to the Drax Group plc Performance Share Plan ("PSP")
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 98,039
d)	Aggregated information -      Aggregated volume -      Price	98,039 nil
e)	Date of the transaction
f)	Place of the transaction	Outside a trading venue

Details of PDMR / person closely associated with them ("PCA")
Name	Jonathan Kini
Reason for the notification
Position / status	Chief Executive, Drax Retail
Initial notification / amendment	Initial Notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name	Drax Group plc
LEI	549300YPSNTXR4ZHSR98
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument Identification code	Ordinary shares of 11 16/29 pence GB00BIVNSX38
Nature of the transaction	Performance awards made pursuant to the Drax Group plc Performance Share Plan ("PSP")
Price(s) and volume(s)	Price(s) Volume(s) nil 98,039
Aggregated information -      Aggregated volume -      Price	98,039 nil
Date of the transaction	5 March 2018
Place of the transaction	Outside a trading venue

David McCallum

Company Secretary

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