Director/PDMR Shareholding

RNS Number : 0299N

Scottish & Southern Energy PLC

03 June 2010

 



SCOTTISH AND SOUTHERN ENERGY PLC

TRANSACTIONS BY DIRECTORS AND PDMRS

 

DISCLOSURE PURSUANT TO DISCLOSURE AND TRANSPARENCY RULE 3.1.4R(1)(a)

 (i)        PERFORMANCE SHARE PLAN ("PSP")

            VESTING OF 2007 AWARDS

On 26 July 2007 the Company granted awards of shares under its PSP. The vesting of these awards was subject to the achievement of relevant performance conditions in respect of Total Shareholder Return and Earnings Per Share over the three year performance period ended 31 March 2010.  These awards have vested in respect of 16.2% of the total award.  The Company announces the following transactions:

Participant		No of Shares Awarded 26/07/07		Accruing Dividend Shares	Total Shares	Total Shares Due to Vest at 16.2%	No of Shares Sold at £10.764 on 02/06/10	Net Shares Acquired	Revised Beneficial Interest at 02/06/10
EXECUTIVE DIRECTOR
Ian Marchant		75,313		11,733	87,046	14,101	7,207	6,894	225,430
Colin Hood		56,485		8,799	65,284	10,576	5,405	5,171	134,583
Gregor Alexander		42,364		6,598	48,962	7,931	4,054	3,877	89,843
Alistair Phillips-Davies		42,364		6,598	48,962	7,931	4,054	3,877	98,543
PDMRs
Mark Mathieson	13,729		2,136		15,865	2,570	1,314	1,256	N/A
Adrian Pike	13,729		2,136		15,865	2,570	1,314	1,256	N/A
Paul Smith	14,121		2,198		16,319	2,643	1,351	1,292	N/A

(ii)        PERFORMANCE SHARE PLAN

            GRANT OF AWARDS 2 JUNE 2010

            VESTING NO EARLIER THAN PRELIM ANNOUNCEMENT 2013

On 2 June 2010 the Company granted the following awards under the PSP.  The number of shares stated is the maximum available to each director or PDMR on satisfaction in full of the performance targets applicable to the award.  The number of shares under each award has been calculated by reference to the mid market closing price on 1 June 2010 of £10.79 per share.

Vesting of these awards will be conditional on the satisfaction of financial performance conditions over the three year performance period 1 April 2010 to 31 March 2013 and subject to continued employment.  The earliest date on which participants will normally become entitled to the shares comprised in the award is the date of announcement of results for the financial year ending 31 March 2013, or as otherwise determined by the rules of the PSP.

EXECUTIVE DIRECTOR	NUMBER OF SHARES GRANTED UNDER AWARD
Ian Marchant	116,774
Colin Hood	89,770
Gregor Alexander	68,824
Alistair Phillips-Davies	68,824
PDMR	NUMBER OF SHARES GRANTED UNDER AWARD
Paul Dowling	20,757
Mark Mathieson	19,545
Adrian Pike	19,545
Paul Smith	20,046

(iii)       DEFERRED BONUS SCHEME (DBS)

            GRANT OF AWARDS

            VESTING NO EARLIER THAN 2 JUNE 2013

On 2 June 2010 the Company granted the following awards under the DBS.  The number of shares under each award has been calculated by reference to the mid market closing price on 1 June 2010 of £10.79 per share.

EXECUTIVE DIRECTOR	NUMBER OF SHARES GRANTED UNDER AWARD
Ian Marchant	11,482
Colin Hood	8,612
Gregor Alexander	6,602
Alistair Phillips-Davies	6,602
PDMR	NUMBER OF SHARES GRANTED UNDER AWARD
Paul Dowling	3,113
Mark Mathieson	2,773
Adrian Pike	2,846
Paul Smith	2,919

Awards granted under the DBS represent a deferral of a proportion of the cash bonus earned for the financial year ended 31 March 2010 which is converted into shares.  These shares will vest after a period of three years from date of grant subject to continued employment.

 

END

 

 

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