Severn Trent PLC

Director's Dealing • Jul 29, 2024

National Storage Mechanism | Additional information

RNS Number : 2426Y

Severn Trent PLC

29 July 2024

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 2021 ("LTIP")

On 25 July 2024, 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 2021, 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 (14.07.21)	55,461	62,308	29,388	2499.7949p	32,920
H Miles Director (14.07.21)	15,815	17,765	8,379	2499.7949p	9,386
S Anderson PDMR (14.07.21)	6,131	6,885	3,248	2499.7949p	3,637
S Cawley PDMR (14.07.21)	1,899	2,130	1,005	2499.7949p	1,125
J Jesic PDMR (14.07.21)	9,814	11,024	5,200	2499.7949p	5,824
N Morrison PDMR (14.07.21)	7,513	8,438	3,980	2499.7949p	4,458
R Stear PDMR (14.07.21)	5,485	6,159	2,905	2499.7949p	3,254

*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 2021 LTIP award made under the 2021 Remuneration Policy included 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 2021 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 £24.997949	62,308 29,388

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume  62,308 / Price GBP Nil

Tax/NI Sale:  Volume 29,388 / Price GBP £24.997949

e)

Date of the transaction

2024-07-25

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 2021 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  £24.997949	17,765 8,379

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 17,765 / Price GBP Nil

Tax/NI Sale:  Volume 8,379 / Price GBP £24.997949

e)

Date of the transaction

2024-07-25

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 2021 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  £24.997949	6,885 3,248

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 6,885 / Price GBP Nil

Tax/NI Sale:  Volume 3,248 / Price GBP £24.997949

e)

Date of the transaction

2024-07-25

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 2021 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  £24.997949	2,130 1,005

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 2,130 / Price GBP Nil

Tax/NI Sale:  Volume 1,005 / Price GBP £24.997949

e)

Date of the transaction

2024-07-25

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 2021 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  £24.997949	11,024 5,200

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 11,024 / Price GBP Nil

Tax/NI Sale:  Volume 5,200 / Price GBP £24.997949

e)

Date of the transaction

2024-07-25

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 2021 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  £24.997949	8,438  3,980

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 8,438 / Price GBP Nil

Tax/NI Sale:  Volume 3,980 / Price GBP £24.997949

e)

Date of the transaction

2024-07-25

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 2021 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  £24.997949	6,159 2,905

d)

Aggregated information

- Aggregated volume

- Price

Acquisition:  Volume 6,159 / Price GBP Nil

Tax/NI Sale:  Volume 2,905 / Price GBP £24.997949

e)

Date of the transaction

2024-07-25

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

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