Director/PDMR Shareholding

RNS Number : 4532J

Scottish & Southern Energy PLC

30 March 2010

 



SCOTTISH AND SOUTHERN ENERGY PLC

TRANSACTIONS BY DIRECTORS AND OTHER PDMRS

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

VESTING OF AWARDS UNDER THE DEFERRED BONUS SCHEME

2007 AWARDS

On 29 March 2010 the independent Trustee of the Scottish and Southern Energy Employee Trust (the "Trust") notified the Company that it had on 29 March 2010 transferred the beneficial interest in a total of 27,313 Scottish and Southern ordinary shares (the "shares"), subject to awards granted on 8 June 2007 under the Deferred Bonus Scheme, to the following Directors and other persons discharging managerial responsibility ("PDMRs") as follows:

Director/ PDMR	Gross Award of Shares	Accrued Dividend Shares	Total Shares	No. of Shares sold to meet income tax and National Insurance liabilities	Price at which Shares sold	Net Number of Shares transferred to Participant	Total Beneficial Interest following this Notification
Gregor Alexander, Director	6,518	1,012	7,530	3,094	1110.66p	4,436	85,878
Colin Hood, Director	8,598	1,336	9,934	4,081	1110.66p	5,853	63,199
Ian Marchant, Director	11,962	1,861	13,823	5,679	1110.66p	8,144	218,448
Alistair Phillips-Davies, Director	6,588	1,022	7,610	3,127	1110.66p	4,483	94,592
Mark Mathieson, PDMR	2,135	330	2,465	1,013	1110.66p	1,452	N/A
Adrian Pike, PDMR	2,135	330	2,465	1,013	1110.66p	1,452	N/A
Paul Smith, PDMR	2,196	339	2,535	1,042	1110.66p	1,493	N/A

These Directors and PDMRs have given an undertaking that they will not trade these shares before the original vesting date of 8 June 2010.

VESTING OF AWARDS UNDER THE DEFERRED BONUS SCHEME

2002 - 2006 AWARDS

On 29 March 2010 Colin Hood called for the release of awards of shares under the Deferred Bonus Scheme, all of which had passed their third anniversary.  On 29 March 2010 the independent Trustee of the Scottish and Southern Energy Employee Trust notified the Company that it had on 29 March 2010 transferred the beneficial interest in a total of 91,594 shares to Colin Hood as follows:

Date of Grant of Award	Gross Award of Shares	Accrued Dividend Shares	Total Shares	No. of Shares sold to cover tax and National Insurance liabilities	Price at which Shares sold	Net Number of Shares  transferred to Participant	Total Beneficial Interest following this Notification
06/06/2006	33,446	6,612	40,058	16,457	1110.66p	23,601	154,793
30/06/2005	26,079	6,459	32,538	13,367	1110.66p	19,171
20/07/2004	25,249	7,782	33,031	13,570	1110.66p	19,461
02/07/2003	19,116	7,333	26,449	10,866	1110.66p	15,583
11/07/2002	16,108	7,278	23,386	9,608	1110.66p	13,778

REDUCTION IN BENEFICIAL INTEREST

COLIN HOOD

On 29 March 2010 Colin Hood notified the Company of a non-market transfer of a total of 25,500 shares to members of his family, not deemed connected persons.  Mr Hood's total beneficial interest following this transaction is 129,293 shares.

GRANT OF SECURITY OVER SHARES

COLIN HOOD

On 23 January 2009 the Company disclosed a security arrangement over 22,981 shares in respect of Colin Hood.  Following the above transactions, the Company today discloses the additional security arrangement of 71,947 ordinary shares in respect of Colin Hood.

UK SHARE INCENTIVE PLAN DIVIDEND REINVESTMENT

On 29 March 2010 the Company was notified by Computershare Investor Services plc, the provider of the UK all employee Share Incentive Plan, that the cash dividends paid on 26 March 2010 were reinvested and used to purchase 105,517 Dividend Shares on 29 March 2010 at a price of 1111.03p per share.  The purchase was made pursuant to a regular standing order instruction with Computershare Investor Services plc for the reinvestment of cash dividends into Dividend Shares. The interests of the Directors and other PDMRs in the transactions were as follows:

Director/PDMR	SIP Dividend Shares	Total Beneficial Interest following this Notification
Gregor Alexander, Director	39	85,917
Colin Hood, Director	39	129,332
Ian Marchant, Director	39	218,487
Alistair Phillips-Davies, Director	39	94,631
Mark Mathieson, PDMR	41	N/A
Adrian Pike, PDMR	26	N/A
Paul Smith, PDMR	39	N/A

 

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