Director/PDMR Shareholding

RNS Number : 1752B

SSE PLC

28 March 2013

 



SSE plc (the Company)

TRANSACTIONS BY DIRECTORS AND PDMRS

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

 

PEP REINVESTMENT

The Company was notified on 28 March 2013 of a re-investment by the manager of a PEP held by Ian Marchant pursuant to a regular standing order instruction.  Ian Marchant acquired 13 shares at a price of £14.84 per share on 27 March 2013. 

Following this transaction, Ian Marchant has a beneficial interest in 222,439 shares.

PERFORMANCE SHARE PLAN

Ian Marchant, Chief Executive, has decided to relinquish the Performance Share Plan award of 94,360 shares in SSE plc granted to him on 22 June 2012.  As announced on 23 January 2013, he is stepping down from the role of Chief Executive on 30 June 2013, so he would have been entitled to 15/36ths of any award from 2012 which may vest in 2015.  He does not, however, wish to participate in the PSP from 2012 onwards so that all aspects of his remuneration are concluded and determined during the financial year 2013/14, the last one in which he will be an employee of the Company.  This also means he will not receive an award of shares under the Company's 2013 Performance Share Plan.  All other details of his remuneration will be set out in the Company's Annual Report 2013, which will be published in June.

 

END

 

 

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