Drax Group PLC

Director's Dealing • May 11, 2020

National Storage Mechanism | Additional information

RNS Number : 3448M

Drax Group PLC

11 May 2020

11 May 2020

DRAX GROUP PLC

Symbol: DRX

Notification of Transactions of Directors,

Persons Discharging Managerial Responsibility or Connected Persons

The notifications below are all in accordance with the requirements of Article 19 (3) of the EU Market Abuse Regulation 596/2014 and the dealings were in respect of ordinary shares of 11 16/29 pence each in the share capital of Drax Group plc (the "Company").

On 22 April 2020, at the Annual General Meeting of the Company, shareholders approved the Remuneration Policy and the Drax Group plc Long Term Incentive Plan 2020.

On 7 May 2020, awards over shares were made under the Drax Group plc Long Term Incentive Plan 2020 ("LTIP"). Consequently, the share interests of the under-noted directors and persons discharging managerial responsibility (PDMRs) have changed following the granting of these awards.

The performance awards, made for nil consideration under the LTIP, are conditional awards. Vesting of the LTIP award shares is normally deferred for three years and subject to the satisfaction of certain performance conditions and to the participant remaining in employment until the vesting date.  Awards to executive directors are subject to a two-year holding period following the date of Vesting.

There may arise circumstances during the Vesting Period where adjustment or discretion is applied by the Remuneration Committee by reference to exceptional items and the Directors' Remuneration Policy. The application of such adjustments would be considered during and upon completion of the Vesting Period. In making their assessment, the Remuneration Committee will take into account appropriate advice (for example from the Company's auditors, the Remuneration Committee advisers or the Audit Committee), also giving due consideration to the shareholder experience and to what extent the outcome incorporates any windfall gain, which warrants adjustment. The Remuneration Committee would also take into account exceptional and unforeseen circumstances in assessing the appropriate level of Vesting judged against the performance of the Company and management at the end of the Vesting Period.

Director/PDMR	Number of shares over which LTIP award made
Will Gardiner	562,506
Andy Skelton	320,697
Clare Harbord	137,244
Esa Heiskanen	141,958
Paul Sheffield	141,733
Jason Shipstone	123,665
Penny Small	140,626

There were 410,571,755 shares in issue at the time of this notification.

The information below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Will Gardiner

2.

Reason for the notification

a)

Position / status

Group Chief Executive

b)

Initial notification / amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Drax Group plc

b)

LEI

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	562,506

d)

Aggregated information

-     Aggregated volume

-     Price

N/A

e)

Date of the transaction

7 May 2020

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Andrew Skelton

2.

Reason for the notification

a)

Position / status

Chief Financial Officer

b)

Initial notification / amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Drax Group plc

b)

LEI

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	320,697

d)

Aggregated information

-     Aggregated volume

-     Price

N/A

e)

Date of the transaction

7 May 2020

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Clare Harbord

2.

Reason for the notification

a)

Position / status

Director of Corporate Affairs

b)

Initial notification / amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Drax Group plc

b)

LEI

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

Performance awards made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	137,244

d)

Aggregated information

-     Aggregated volume

-     Price

N/A

e)

Date of the transaction

7 May 2020

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Esa Heiskanen

2.

Reason for the notification

a)

Position / status

Chief Officer Capital Projects

b)

Initial notification / amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Drax Group plc

b)

LEI

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	141,958

d)

Aggregated information

-     Aggregated volume

-     Price

N/A

e)

Date of the transaction

7 May 2020

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Paul Sheffield

2.

Reason for the notification

a)

Position / status

Managing Director Customers

b)

Initial notification / amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Drax Group plc

b)

LEI

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	141,733

d)

Aggregated information

-     Aggregated volume

-     Price

N/A

e)

Date of the transaction

7 May 2020

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Jason Shipstone

2.

Reason for the notification

a)

Position / status

EVP Innovation

b)

Initial notification / amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Drax Group plc

b)

LEI

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	123,665

d)

Aggregated information

-     Aggregated volume

-     Price

N/A

e)

Date of the transaction

7 May 2020

f)

Place of the transaction

Outside a trading venue

Details of PDMR / person closely associated with them ("PCA")

Name

Penelope Small

Reason for the notification

Position / status

Chief Transformation Officer

Initial notification / amendment

Initial Notification

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Name

Drax Group plc

LEI

549300YPSNTXR4ZHSR98

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

Description of the financial instrument

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

Nature of the transaction

Performance awards made pursuant to the Drax Group plc Long Term Incentive Plan ("LTIP")

Price(s) and volume(s)

Price(s)	Volume(s)
nil	140,626

Aggregated information

-     Aggregated volume

-     Price

N/A

Date of the transaction

7 May 2020

Place of the transaction

Outside a trading venue

--ENDS--

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