Drax Group PLC

Director's Dealing • May 15, 2020

National Storage Mechanism | Additional information

RNS Number : 0976N

Drax Group PLC

15 May 2020

15 May 2020

Drax Group plc

("Drax" or the "Company")

Symbol: DRX

Notification of Transactions of Directors,

Persons Discharging Managerial Responsibility ("PDMR") or Connected Persons

The notifications below are in accordance with DTR 3.1.4 R(1)(a) and DTR 3.1.4 R(1)(b) and the dealings were in respect of ordinary shares of 11 16/29 pence each in the share capital of the Company. As at the date of announcement, there are 410,755,481 ordinary shares of 11 16/29 pence each, of which 13,841,295 ordinary shares are held in treasury. Treasury shares do not carry voting rights.

Vesting of Performance Share Plan Shares

The individuals detailed in this notice, each a PDMR, had nil cost conditional share awards granted on 15 May 2017 under the Drax Group plc Performance Share Plan ("PSP").

The Company was notified on 15 May 2020 that the individuals had completed transactions in the Company's ordinary shares as detailed in the tables below. Each of the PDMRs listed below sold sufficient of the shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares at 195.4 pence per share, as explained below:

Director/PDMR	Total performance share award vesting1	Number of shares sold to meet the tax liability	Net shares held
Will Gardiner	44,094	20,798	23,2962
Clare Harbord	15,755	7,432	8,323
Paul Sheffield	4,662	2,202	2,460
Jason Shipstone	1,905	906	999

Notes:

1.     Includes shares in lieu of accrued dividends throughout the performance period.

2.     Shares awarded to executive directors are subject to a post-vesting holding period of two years. Net shares acquired by executive directors will be held in trust for two years.

Brett Gladden

Group Company Secretary

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

Notification of dealing form

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Will Gardiner

2

Reason for the notification

a)

Position/status

Group Chief Executive 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

ZGEN8HJFCYNRVN1XCJ08

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 11 16/29 pence each

GB00B1VNSX38

b)

Nature of the transaction

Shares acquired pursuant to the vesting of awards under the Drax Group plc Performance Share Plan granted on 15 May 2017, including accrued dividend shares.

Will Gardiner sold 20,798 shares to cover applicable taxes and costs and retained the balance of 23,296 shares 

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.954	44,094

d)

Aggregated information

-Aggregated volume

-Price

N/A

e)

Date of the transaction

15 May 2020

f)

Place of the transaction

XLON

1

Details of the person discharging managerial responsibilities/person closely associated

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

ZGEN8HJFCYNRVN1XCJ08

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 11 16/29 pence each

GB00B1VNSX38

b)

Nature of the transaction

Shares acquired pursuant to the vesting of awards under the Drax Group plc Performance Share Plan granted on 15 May 2017, including accrued dividend shares.

Clare Harbord sold 7,432 shares to cover applicable taxes and costs and retained the balance of 8,323 shares.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.954	15,755

d)

Aggregated information

-Aggregated volume

-Price

N/A

e)

Date of the transaction

15 May 2020

f)

Place of the transaction

XLON

1

Details of the person discharging managerial responsibilities/person closely associated

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

ZGEN8HJFCYNRVN1XCJ08

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 11 16/29 pence each

GB00B1VNSX38

b)

Nature of the transaction

Shares acquired pursuant to the vesting of awards under Drax Group plc Performance Share Plan granted on 15 May 2017, including accrued dividend shares.

Paul Sheffield sold 2,202 shares to cover applicable taxes and costs and retained the balance of 2,460 shares.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.954	4,662

d)

Aggregated information

-Aggregated volume

-Price

N/A

e)

Date of the transaction

15 May 2020

f)

Place of the transaction

XLON

1

Details of the person discharging managerial responsibilities/person closely associated

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

ZGEN8HJFCYNRVN1XCJ08

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 11 16/29 pence each

GB00B1VNSX38

b)

Nature of the transaction

Shares acquired pursuant to the vesting of awards under the Drax Group plc Performance Share Plan granted on 15 May 2017, including accrued dividend shares.

Jason Shipstone sold 906 shares to cover applicable taxes and costs and retained the balance of 999 shares.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.954	1,905

d)

Aggregated information

-Aggregated volume

-Price

N/A

e)

Date of the transaction

15 May 2020

f)

Place of the transaction

XLON

END

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