Pennon Group PLC
28 February 2006
PENNON GROUP PLC
FOR IMMEDIATE RELEASE
DIRECTORS' SHAREHOLDINGS
NOTIFICATION OF DIRECTORS' INTERESTS PURSUANT TO SECTION 324(2) OF THE
COMPANIES ACT 1985
The following changes in the interests in shareholdings of Directors of Pennon
Group Plc ('the Company') arise in England from the Company's return of cash to
shareholders by way of the allotment of one unlisted non-cumulative redeemable
preference share of 110p each (a 'B share') for each ordinary share of 111p each
held and a Share Capital Consolidation which resulted in every 11 ordinary
shares of 111p each held being replaced with 10 new ordinary shares of 1221/10p
each. Further details of the return of cash are contained in the Circular to
shareholders dated 23 January 2006 (the 'Circular'). The shares were issued on
20 February 2006 and the new ordinary shares were admitted to trading on that
day on the London Stock Exchange. Notification was received by the Company of
these interests on 27 February 2006.
(a) Shareholdings - interests of each Director:
Prior to Consolidation After Consolidation B shares of
Ordinary shares of New ordinary shares 110p each
111p each of 1221/10p each
Executive Directors
Mr R J Baty 60,232 54,755 60,232
Mr C I J H Drummond 38,605 35,093 38,605
Mr D J Dupont 32,766 29,785 32,766
Non-Executive Directors
Mr K G Harvey 2,644 2,403 2,644
Ms K M H Mortimer 276 250 276
(b) Restricted Share Plan - conditional interests in shares of each Executive Director.
Prior to Consolidation After Consolidation B shares of
Ordinary shares New ordinary shares 110p each
of 111p each of 1221/10p each
Mr R J Baty 51,778 47,070 51,778
Mr C I J H Drummond 51,778 47,070 51,778
Mr D J Dupont 49,925 45,386 49,925
The above new ordinary shares are held by Peninsula Trustees (Guernsey) Limited and
represent the maximum number of shares to which each Executive Director would become
entitled under the Company's Restricted Share Plan if the relevant criterion in respect of
each award was met. The proceeds of 110 pence of each of the B shares are now due to be
released to the Directors in accordance with the terms of the Circular and the Restricted
Share Plan.
(c) Performance Related Bonus Plan - conditional interest in shares of each Executive Director:
Prior to Consolidation After Consolidation B shares of
Ordinary shares New ordinary shares 110p each
of 111p each of 1221/10p each
Mr R J Baty 20,176 18,341 20,176
Mr C I J H Drummond 22,479 20,435 22,479
Mr D J Dupont 18,803 17,093 18,803
The above new ordinary shares are held by Peninsula Trustees (Guernsey) Limited and it is a
condition of the Performance Related Bonus Plan that these ordinary shares so awarded to
each of the Executive Directors should normally be held for a period of three years,
conditional upon continuous service with the Company. The proceeds of 110 pence of the B
shares are now due to be released to the Directors in accordance with the terms of the
Circular and the Performance Related Bonus Plan.
(d) Sharesave Scheme
The number of options over the Company's ordinary shares previously granted to Executive
Directors in accordance with the Company's Sharesave Scheme remain the same, save that the
options after Consolidation are now over new ordinary shares of 1221/10 pence each.
28 February 2006
www.pennon-group.co.uk
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