Director/PDMR Shareholding

RNS Number : 0976N

Drax Group PLC

15 May 2020

 

15 May 2020

Drax Group plc

("Drax" or the "Company")

Symbol: DRX

Notification of Transactions of Directors,

Persons Discharging Managerial Responsibility ("PDMR") or Connected Persons

The notifications below are in accordance with DTR 3.1.4 R(1)(a) and DTR 3.1.4 R(1)(b) and the dealings were in respect of ordinary shares of 11 ¹⁶/₂₉ pence each in the share capital of the Company. As at the date of announcement, there are 410,755,481 ordinary shares of 11  ¹⁶ / ₂₉  pence each, of which 13,841,295 ordinary shares are held in treasury. Treasury shares do not carry voting rights.

Vesting of Performance Share Plan Shares

The individuals detailed in this notice, each a PDMR, had nil cost conditional share awards granted on 15 May 2017 under the Drax Group plc Performance Share Plan ("PSP").

The Company was notified on 15 May 2020 that the individuals had completed transactions in the Company's ordinary shares as detailed in the tables below. Each of the PDMRs listed below sold sufficient of the shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares   at 195.4 pence per share, as explained below:

Director/PDMR	Total performance share award vesting1	Number of shares sold to meet the tax liability	Net shares held
Will Gardiner	44,094	20,798	23,2962
Clare Harbord	15,755	7,432	8,323
Paul Sheffield	4,662	2,202	2,460
Jason Shipstone	1,905	906	999

Notes:

1.  Includes shares in lieu of accrued dividends throughout the performance period.

2.  Shares awarded to executive directors are subject to a post-vesting holding period of two years. Net shares acquired by executive directors will be held in trust for two years.

Brett Gladden

Group Company Secretary

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

Notification of dealing form

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Will Gardiner
2	Reason for the notification
a)	Position/status	Group Chief Executive Officer
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	ZGEN8HJFCYNRVN1XCJ08
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, type of instrument Identification code	Ordinary shares o f 11 16/29 p ence each   GB00B1VNSX38
b)	Nature of the transaction	Shares acquired pursuant to the vesting of awards under the Drax Group plc Performance Share Plan granted on 15 May 2017, including accrued dividend shares. Will Gardiner sold 20,798 shares to cover applicable taxes and costs and retained the balance of 23,296 shares
c)	Price(s) and volume(s)	Price(s) Volume(s) £1.954 44,094
d)	Aggregated information - Aggregated volume   - Price	N/A
e)	Date of the transaction	15 May 2020
f)	Place of the transaction	XLON

1	Details of the person discharging managerial responsibilities/person closely associated
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	ZGEN8HJFCYNRVN1XCJ08
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, type of instrument Identification code	Ordinary shares o f 11 16/29 p ence each   GB00B1VNSX38
b)	Nature of the transaction	Shares acquired pursuant to the vesting of awards under the Drax Group plc Performance Share Plan granted on 15 May 2017, including accrued dividend shares. Clare Harbord sold 7,432 shares to cover applicable taxes and costs and retained the balance of 8,323 shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) £1.954 15,755
d)	Aggregated information - Aggregated volume   - Price	N/A
e)	Date of the transaction	15 May 2020
f)	Place of the transaction	XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Paul Sheffield
2	Reason for the notification
a)	Position/status	Managing Director Customers
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	ZGEN8HJFCYNRVN1XCJ08
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, type of instrument Identification code	Ordinary shares o f 11 16/29 p ence each   GB00B1VNSX38
b)	Nature of the transaction	Shares acquired pursuant to the vesting of awards under Drax Group plc Performance Share Plan granted on 15 May 2017, including accrued dividend shares. Paul Sheffield sold 2,202 shares to cover applicable taxes and costs and retained the balance of 2,460 shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) £1.954 4,662
d)	Aggregated information - Aggregated volume   - Price	N/A
e)	Date of the transaction	15 May 2020
f)	Place of the transaction	XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jason Shipstone
2	Reason for the notification
a)	Position/status	EVP Innovation
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	ZGEN8HJFCYNRVN1XCJ08
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, type of instrument Identification code	Ordinary shares o f 11 16/29 p ence each   GB00B1VNSX38
b)	Nature of the transaction	Shares acquired pursuant to the vesting of awards under the Drax Group plc Performance Share Plan granted on 15 May 2017, including accrued dividend shares. Jason Shipstone sold 906 shares to cover applicable taxes and costs and retained the balance of 999 shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) £1.954 1,905
d)	Aggregated information - Aggregated volume   - Price	N/A
e)	Date of the transaction	15 May 2020
f)	Place of the transaction	XLON

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