Director/PDMR Shareholding

RNS Number : 3602U

Drax Group PLC

01 April 2021

 

1 April 2021

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 (the "Company"). As at the date of announcement, there are in issue411,732,605 shares 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 .

On 1 April 2021, awards over shares were made under the Company's Long Term Incentive Plan 2020 ("LTIP") and Deferred Share Plan ("DSP"). Consequently, the share interests of the under-noted directors and persons discharging managerial responsibility (PDMRs) have changed following the granting of these awards.

Awards made under the LTIP

The performance awards, made for nil consideration under the LTIP, are conditional awards. Vesting of the LTIP award shares is normally deferred for three years and subject to the satisfaction of certain performance conditions and to the participant remaining in employment until the vesting date.  Awards to executive directors are subject to an additional two-year holding period following the date of Vesting.

Director/PDMR	Number of shares over which LTIP award made
Will Gardiner	266,650
Andy Skelton	152,022
Clare Harbord	65,058
Esa Heiskanen	67,293
Mike Maudsley	59,394
Paul Sheffield	67,186
Jason Shipstone	58,622
Penny Small	66,662

Awards made under the DSP

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 the financial year ended 31 December 2020.  Vesting of the DSP shares is normally deferred for three years and subject to the participant remaining in employment until the vesting date. 

Director/PDMR	Number of shares over which Deferred Awards made
Will Gardiner	54,498
Andy Skelton	30,441

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.

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)  Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP") (ii)  Deferred award made pursuant to the Drax Group plc Deferred Share Plan ("DSP")
c)	Price(s) and volume(s)	Price(s) Volume(s) (i)  Nil 266,650 (ii)  Nil 54,498
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	1 April 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Andrew Skelton
2.	Reason for the notification
a)	Position / status	Chief Financial 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	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)  Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP") (ii)  Deferred award made pursuant to the Drax Group plc Deferred Share Plan ("DSP")
c)	Price(s) and volume(s)	Price(s) Volume(s) (i)  Nil 152,022 (ii)  Nil 30,441
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	1 April 2021
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 Long Term Incentive Plan 2020 ("LTIP")
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 65,058
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	1 April 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Esa Heiskanen
2.	Reason for the notification
a)	Position / status	Chief Officer Capital Projects
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	Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 67,293
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	1 April 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Mike Maudsley
2.	Reason for the notification
a)	Position / status	UK Portfolio Generation Director
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	Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 59,394
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	1 April 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
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	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	Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 67,186
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	1 April 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Jason Shipstone
2.	Reason for the notification
a)	Position / status	Chief Innovation 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	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	Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 58,622
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	1 April 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Penelope Small
2.	Reason for the notification
a)	Position / status	Chief Transformation 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	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 Long Term Incentive Plan ("LTIP")
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 66,662
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	1 April 2021
f)	Place of the transaction	Outside a trading venue

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