Director/PDMR Shareholding

RNS Number : 3084T

Scottish & Southern Energy PLC

03 June 2009

 



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 2006 AWARDS 

On 27 July 2006 the PSP was approved by shareholders at the Company's AGM. That same day the Company announced the grant of awards to Executive Directors and PDMRs.  These shares have vested in full as a result of the achievement of the relevant performance conditions in respect of Total Shareholder Return and Earnings per Share over the three year performance period ended 31 March 2009. 

The Company announces the following transactions:

Participant	No of Shares  Awarded  27/07/06	Accruing Dividend Shares	Total Shares  Due to Vest	No of Shares Sold at £11.7417  on  02/06/09  to cover Tax & NI Liabilities	Net  Shares Acquired	Revised Beneficial Interest At 02/06/09
Executive Director
Ian Marchant	54,142	7,040	61,182	25,135	36,047	178,296
Colin Hood	40,607	5,280	45,887	18,852	27,035	55,416
Gregor Alexander	28,301	3,678	31,979	13,138	18,841	65,015
Alistair Phillips-Davies	28,301	3,678	31,979	13,138	18,841	50,500
PDMRs
Mark Mathieson	7,690	998	8,688	3,570	5,118	N/A
Adrian Pike	8,921	1,157	10,078	4,141	5,937	N/A
Paul Smith	9,844	1,277	11,121	4,569	6,552	N/A

(ii)    PERFORMANCE SHARE PLAN

        GRANT OF AWARDS 2 JUNE 2009; 

        VESTING NO EARLIER THAN PRELIM ANNOUNCEMENT 2012

On 2 June 2009 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 £11.7425, being the price paid per share by the Trustee of the Scottish and Southern Energy Employee Trust.

Vesting of these awards will be conditional on the satisfaction of financial performance conditions over the three year performance period 1 April 2009 to 31 March 2012 and 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 2012, or as otherwise determined by the rules of the PSP. 

EXECUTIVE DIRECTOR	NUMBER OF SHARES GRANTED UNDER AWARD
Ian Marchant	107,302
Colin Hood	80,476
Gregor Alexander	61,698
Alistair Phillips-Davies	61,698
PDMR	NUMBER OF SHARES GRANTED UNDER AWARD
Paul Dowling	25,708
Mark Mathieson	16,989
Adrian Pike	17,436
Paul Smith	17,883

(iii)    DEFERRED BONUS SCHEME (DBS)

         GRANT OF AWARDS;

         VESTING NO EARLIER THAN 2 JUNE 2012

The Company announces the purchase on 2 June 2009, by the Trustee of the Scottish and Southern Energy Employee Trust, of ordinary shares in the Company at a price of £11.7425 per share and the awards of shares on 2 June 2009 to Executive Directors and PDMRs under the DBS as follows: 

EXECUTIVE DIRECTOR	NUMBER OF SHARES GRANTED UNDER AWARD
Ian Marchant	10,730
Colin Hood	8,047
Gregor Alexander	6,169
Alistair Phillips-Davies	6,169
PDMR	NUMBER OF SHARES GRANTED UNDER AWARD
Paul Dowling	3,133
Mark Mathieson	2,760
Adrian Pike	2,833
Paul Smith	2,906

Awards granted under the DBS represent a deferral of a proportion of the cash bonus earned for the financial year ended 31 March 2009 which is converted into shares.  The shares will vest after a period of three years from date of grant subject to continued employment. 

 

END

 

 

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