Director/PDMR Shareholding

RNS Number : 3256F

Drax Group PLC

21 March 2022

 

21 March 2022

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 Market Abuse Regulation (EU) No 596/2014 as incorporated into the law of England and Wales, Scotland and Northern Ireland by the European Union (Withdrawal) Act 2018, 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 issue413,101,440 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 Friday 18 March 2022, awards over shares were made under the Drax Group plc Long Term Incentive Plan 2020 ("LTIP") and the Drax Group plc 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	174,119
Andy Skelton	96,907
Paul Sheffield	41,168
Penny Small	43,529
Matt White	40,275

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 2021. 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 DSP award made
Will Gardiner	45,809
Andy Skelton	25,590

Brett Gladden

Group Company Secretary

The information below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) 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 174,119 (ii)  Nil 45,809
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	18 March 2022
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 96,907 (ii)  Nil 25,590
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	18 March 2022
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	Chief Commercial 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 41,168
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	18 March 2022
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	Group 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 43,529
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	18 March 2022
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Matt White
2.	Reason for the notification
a)	Position / status	Senior Vice President, North America
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 40,275
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	18 March 2022
f)	Place of the transaction	Outside a trading venue

--ENDS--

 

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