Director/PDMR Shareholding

RNS Number : 0615W

SSE PLC

27 July 2018

 

SSE plc

Director/PDMR Shareholding

GENERAL TEXT AMENDMENT - CHANGE TO PDMR SHAREHOLDING

The 'Director/PDMR Shareholding' announcement released on 3 July 2018 stated the number of shares conditionally awarded to Colin Nicol (PDMR) under the SSE plc Leadership Share Plan as 23,240. This figure was calculated incorrectly and the correct figure is 26,094. All other details in the announcement remain unchanged and the full text of the amended section is reproduced below.

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(iv) Leadership Share Plan (LSP) - Grant of Awards

On 28 June 2018, Colin Nicol (PDMR) as noted in the table that follows, was granted an award over Ordinary shares of 50 pence each fully paid in the Company under the LSP.   The number of shares stated is the number which will become available to Colin Nicol if the performance targets applicable to the award are achieved, although the number could be increased (or reduced) by the Company performance adjuster described below.  On vesting, Colin Nicol will become entitled to additional shares representing the value of reinvested dividends over the performance period.

The number of shares under the award has been calculated by reference to a price of £13.46 per share, being the average of the Company's share price over the three dealing days immediately preceding the date of grant. 

Vesting of the award will normally only take place if the performance conditions are achieved over the three-year performance period 1 April 2018 to 31 March 2021.  In addition, an overall Company performance adjuster, allowing vesting rates to be adjusted up or down by up to 25% at the discretion of the Remuneration Committee, may be applied if overall performance of the Company over the performance period merits such an upward or downward adjustment.

1	Details of the person(s) discharging managerial responsibilities/person closely associated with
a)	Name(s)	Colin Nicol (PDMR)
2	Reason for the notification
a)	Position/status	As noted in 1a) above
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	SSE plc
b)	LEI	549300KI75VYLLMSK856
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, type of instrument Identification code	Ordinary shares of 50 pence each fully paid ISIN: GB0007908733
b)	Nature of transaction	Grant of Awards under the SSE plc Leadership Share Plan
c)	Price(s) and volume(s)	Conditional awards of shares, the number of shares calculated by reference to a price of GBP£13.46, being the average of the Company's share price over the three dealing days immediately preceding date of grant. PDMR Total LSP Awards Granted Colin Nicol (PDMR) 26,094
d)	Aggregated information -      Aggregated volume -      Price	As noted in 4c) above As noted in 4c) above
e)	Date of transaction	28 June 2018
f)	Place of transaction	Outside a trading venue

 

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