Severn Trent PLC

Director's Dealing • Jul 27, 2023

National Storage Mechanism | Additional information

RNS Number : 4284H

Severn Trent PLC

27 July 2023

LEI: 213800RPBXRETY4A4C59

Severn Trent Plc (the "Company") - Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and their Closely Associated Persons

This notification is made in accordance with the Market Abuse Regulation.

Vesting of Shares under the Long Term Incentive Plan 2014 ("LTIP")

On 25 July 2023, the following Directors and PDMRs received a transfer of Shares from the Company (which it held as treasury shares) for nil consideration on the vesting of awards made under the LTIP in 2020, and subsequently sold Shares in order to cover tax and national insurance liabilities:

Director / PDMR (date of award)	Number of conditional shares awarded	Number of shares released to PDMR*	Number of shares sold to cover tax liability	Price at which shares sold	Net number of shares acquired
O Garfield Director (16.06.20)	60,483	67,451	31,833	2553.46p	35,618
H Miles Director (16.06.20)	16,393	18,279	8,627	2553.46p	9,652
J Bowling PDMR (16.06.20)	27,336	30,483	14,387	2553.46p	16,096
S Anderson PDMR (16.06.20)	5,255	5,858	2,765	2553.46p	3,093
S Cawley PDMR (16.06.20)	1,879	2,093	988	2553.46p	1,105
J Jesic PDMR (16.06.20)	9,285	10,353	4,886	2553.46p	5,467
N Morrison PDMR (16.06.20)	8,192	9,132	4,310	2553.46p	4,822
R Stear PDMR (16.06.20)	5,232	5,833	2,753	2553.46p	3,080

*The number of shares released includes additional shares calculated to reflect dividends declared during the period from grant until vesting, in accordance with the LTIP rules.

The 2020 LTIP award made under the 2018 Remuneration Policy introduced a stretch award comparative element to Return on Regulatory Equity ('RoRE'), measured by Upper Quartile ('UQ') comparison against other Water and Sewerage Companies ('WaSCs'). As all WaSCs have now published their Annual Performance Reports, it has been determined that Severn Trent's three-year average RoRE during the performance period was UQ, meaning awards vested in full at 100%.

Notifications set out below, made in accordance with the requirements of the UK Market Abuse Regulation, give further detail.

For further information please contact: 

Rachel Martin, Head of Investor Relations

+44 (0) 782 462 4011

www.severntrent.com

The attached notifications, made in accordance with the requirements of the UK Market Abuse Regulation, give further details.

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Olivia Garfield

2

Reason for the notification

a)

Position/status

Director

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Severn Trent Plc

b)

LEI

213800RPBXRETY4A4C59

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 97 17/19 pence each in Severn Trent Plc

Identification code for Severn Trent Plc shares: GB00B1FH8J72

b)

Nature of the transaction

Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2020 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership.

c)

Price(s) and volume(s)

			Price(s)	Volume(s)
Acquisition of shares on vesting of LTIP  Sale of shares to cover tax and NI liabilities			Nil £25.5346	67,451 31,833

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume  67,451 / Price GBP Nil

Tax/NI Sale:  Volume 31,833 / Price GBP £25.5346

e)

Date of the transaction

2023-07-25

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Helen Miles

2

Reason for the notification

a)

Position/status

Director

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Severn Trent Plc

b)

LEI

213800RPBXRETY4A4C59

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 97 17/19 pence each in Severn Trent Plc

Identification code for Severn Trent Plc shares: GB00B1FH8J72

b)

Nature of the transaction

Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2020 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership.

c)

Price(s) and volume(s)

			Price(s)	Volume(s)
Acquisition of shares on vesting of LTIP  Sale of shares to cover tax and NI liabilities			Nil  £25.5346	18,279 8,627

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 18,279 / Price GBP Nil

Tax/NI Sale:  Volume 8,627 / Price GBP £25.5346

e)

Date of the transaction

2023-07-25

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

James Bowling

2

Reason for the notification

a)

Position/status

PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Severn Trent Plc

b)

LEI

213800RPBXRETY4A4C59

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 97 17/19 pence each in Severn Trent Plc

Identification code for Severn Trent Plc shares: GB00B1FH8J72

b)

Nature of the transaction

Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2020 and sale of shares to cover tax and national insurance liabilities.  Balance shares transferred to nominee CREST account with no change in beneficial ownership.

c)

Price(s) and volume(s)

			Price(s)	Volume(s)
Acquisition of shares on vesting of LTIP  Sale of shares to cover tax and NI liabilities			Nil  £25.5346	30,483 14,387

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 30,483 / Price GBP Nil

Tax/NI Sale:  Volume 14,387 / Price GBP £25.5346

e)

Date of the transaction

2023-07-25

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Shane Anderson

2

Reason for the notification

a)

Position/status

PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Severn Trent Plc

b)

LEI

213800RPBXRETY4A4C59

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 97 17/19 pence each in Severn Trent Plc

Identification code for Severn Trent Plc shares: GB00B1FH8J72

b)

Nature of the transaction

Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2020 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership.

c)

Price(s) and volume(s)

			Price(s)	Volume(s)
Acquisition of shares on vesting of LTIP  Sale of shares to cover tax and NI liabilities			Nil  £25.5346	5,858 2,765

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 5,858 / Price GBP Nil

Tax/NI Sale:  Volume 2,765 / Price GBP £25.5346

e)

Date of the transaction

2023-07-25

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Stephanie Cawley

2

Reason for the notification

a)

Position/status

PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Severn Trent Plc

b)

LEI

213800RPBXRETY4A4C59

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 97 17/19 pence each in Severn Trent Plc

Identification code for Severn Trent Plc shares: GB00B1FH8J72

b)

Nature of the transaction

Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2020 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership.

c)

Price(s) and volume(s)

			Price(s)	Volume(s)
Acquisition of shares on vesting of LTIP  Sale of shares to cover tax and NI liabilities			Nil  £25.5346	2,093 988

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 2,093 / Price GBP Nil

Tax/NI Sale:  Volume 988 / Price GBP £25.5346

e)

Date of the transaction

2023-07-25

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

James Jesic

2

Reason for the notification

a)

Position/status

PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Severn Trent Plc

b)

LEI

213800RPBXRETY4A4C59

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 97 17/19 pence each in Severn Trent Plc

Identification code for Severn Trent Plc shares: GB00B1FH8J72

b)

Nature of the transaction

Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2020 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership.

c)

Price(s) and volume(s)

			Price(s)	Volume(s)
Acquisition of shares on vesting of LTIP  Sale of shares to cover tax and NI liabilities			Nil  £25.5346	10,353 4,886

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 10,353 / Price GBP Nil

Tax/NI Sale:  Volume 4,886 / Price GBP £25.5346

e)

Date of the transaction

2023-07-25

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Neil Morrison

2

Reason for the notification

a)

Position/status

PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Severn Trent Plc

b)

LEI

213800RPBXRETY4A4C59

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 97 17/19 pence each in Severn Trent Plc

Identification code for Severn Trent Plc shares: GB00B1FH8J72

b)

Nature of the transaction

Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2020 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership.

c)

Price(s) and volume(s)

			Price(s)	Volume(s)
Acquisition of shares on vesting of LTIP  Sale of shares to cover tax and NI liabilities			Nil  £25.5346	9,132  4,310

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 9,132 / Price GBP Nil

Tax/NI Sale:  Volume 4,310 / Price GBP £25.5346

e)

Date of the transaction

2023-07-25

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Robert Stear

2

Reason for the notification

a)

Position/status

PDMR

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Severn Trent Plc

b)

LEI

213800RPBXRETY4A4C59

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 97 17/19 pence each in Severn Trent Plc

Identification code for Severn Trent Plc shares: GB00B1FH8J72

b)

Nature of the transaction

Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2020 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership.

c)

Price(s) and volume(s)

			Price(s)	Volume(s)
Acquisition of shares on vesting of LTIP  Sale of shares to cover tax and NI liabilities			Nil  £25.5346	5,833 2,753

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 5,833 / Price GBP Nil

Tax/NI Sale:  Volume 2,753 / Price GBP £25.5346

e)

Date of the transaction

2023-07-25

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

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