SSE PLC

Director's Dealing • Jul 27, 2016

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RNS Number : 4391F

SSE PLC

27 July 2016

SSE plc

Director/PDMR Shareholding

SSE plc (the "Company") - Notification of Transactions of Directors/Persons Discharging Managerial Responsibilities and their Closely Associated Persons

(i)           Deferred Bonus Scheme (DBS)

On 27 July 2016 the Executive Directors and PDMRs listed in the table that follows were each granted awards over Ordinary shares of 50 pence each fully paid in the Company under the DBS.  The number of shares under each award has been calculated by reference to a price of £16.22 per share, being the average of the Company's share price over the three dealing days immediately preceding the date of grant.

Awards granted under the DBS represent a deferral of a proportion of the cash bonus earned for the 2015/16 annual incentive year which is converted into shares.  The shares will vest after a period of three years from the date of grant subject normally to the participant remaining in employment with the Company.  On vesting, the participant will become entitled to additional shares representing the value of reinvested dividends over the three year period.

1

Details of the person(s) discharging managerial responsibilities/person closely associated with

a)

Name(s)

Gregor Alexander (Finance Director)

Alistair Phillips-Davies (Chief Executive)

Will Morris (Managing Director, Retail)

Colin Nicol (Managing Director, Networks)

Martin Pibworth (Managing Director, Wholesale)

2

Reason for the notification

a)

Position/status

As noted in 1a) above

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

SSE plc

b)

LEI

549300KI75VYLLMSK856

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 50 pence each fully paid

ISIN: GB0007908733

b)

Nature of transaction

Grant of Awards under the SSE plc Deferred Bonus Scheme

c)

Price(s) and volume(s)

Conditional awards of free shares, the number of shares calculated by reference to a price of GBP£16.22, being the average of the Company's share price over the three dealing days immediately preceding date of grant.

Director/PDMR	Total Awards  Granted
Gregor Alexander (Director)	5,302
Alistair Phillips-Davies (Director)	6,860
Will Morris (PDMR)	3,751
Colin Nicol (PDMR)	3,930
Martin Pibworth (PDMR)	4,383

d)

Aggregated information

-      Aggregated volume

-      Price

As noted in 4c) above

As noted in 4c) above

e)

Date of transaction

27 July 2016

f)

Place of transaction

Outside a trading venue

(ii)          Performance Share Plan (PSP)

On 27 July 2016 the Executive Directors listed in the table that follows were each granted awards over Ordinary shares of 50 pence each fully paid in the Company under the PSP.   The number of shares stated is the maximum which will become available to each Executive Director if the performance targets applicable to the award are achieved at their upper limit or above.  On vesting, the Executive Director will become entitled to additional shares representing the value of reinvested dividends over the performance period.  The number of shares under each award has been calculated by reference to a price of £16.22 per share, being the average of the Company's share price over the three dealing days immediately preceding the date of grant.

Vesting of these awards will normally only take place if performance conditions are satisfied over the three year performance period 1 April 2016 to 31 March 2019.  These performance conditions are those indicated in the Company's Directors' Remuneration Policy (as set out in the 2016 Annual Report).  The Policy was approved by shareholders at SSE's AGM on 21 July 2016 and applies from this date.

Awards granted to Executive Directors will be subject to an additional two year post-vesting holding period during which time the Executive Director must retain the post-tax number of shares vesting under award.  

1

Details of the person(s) discharging managerial responsibilities/person closely associated with

a)

Name(s)

Gregor Alexander (Finance Director)

Alistair Phillips-Davies (Chief Executive)

2

Reason for the notification

a)

Position/status

As noted in 1a) above

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

SSE plc

b)

LEI

549300KI75VYLLMSK856

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 50 pence each fully paid

ISIN: GB0007908733

b)

Nature of transaction

Grant of Awards under the SSE plc Performance Share Plan

c)

Price(s) and volume(s)

Conditional awards of free shares, the number of shares calculated by reference to a price of GBP£16.22, being the average of the Company's share price over the three dealing days immediately preceding date of grant.

Director	Total Awards Granted
Gregor Alexander	70,390
Alistair Phillips-Davies	104,081

d)

Aggregated information

-      Aggregated volume

-      Price

As noted in 4c) above

As noted in 4c) above

e)

Date of transaction

27 July 2016

f)

Place of transaction

Outside a trading venue

(iii)         Leadership Share Plan (LSP)

On 27 July 2016 the PDMRs listed in the table that follows were each granted awards over Ordinary shares of 50 pence each fully paid in the Company under the LSP.   The number of shares stated is the number which will become available to each PDMR if the performance targets applicable to the award are achieved, although the number could be increased (or reduced) by the Company performance adjuster described below.  On vesting, the PDMR will become entitled to additional shares representing the value of reinvested dividends over the performance period.

The number of shares under each award has been calculated by reference to a price of £16.22 per share, being the average of the Company's share price over the three dealing days immediately preceding the date of grant. 

Vesting of these awards will normally only take place if the performance conditions are achieved over the three year performance period 1 April 2016 to 31 March 2019.  In addition, an overall Company performance adjuster, allowing vesting rates to be adjusted up or down by up to 25% at the discretion of the Remuneration Committee, may be applied if overall performance of the Company over the performance period merits such an upward or downward adjustment.

1

Details of the person(s) discharging managerial responsibilities/person closely associated with

a)

Name(s)

Will Morris (Managing Director, Retail)

Colin Nicol (Managing Director, Networks)

Martin Pibworth (Managing Director, Wholesale)

2

Reason for the notification

a)

Position/status

As noted in 1a) above

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

SSE plc

b)

LEI

549300KI75VYLLMSK856

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 50 pence each fully paid

ISIN: GB0007908733

b)

Nature of transaction

Grant of Awards under the SSE plc Leadership Share Plan

c)

Price(s) and volume(s)

Conditional awards of free shares, the number of shares calculated by reference to a price of GBP£16.22, being the average of the Company's share price over the three dealing days immediately preceding date of grant.

PDMR	Total Awards Granted
Will Morris (PDMR)	15,365
Colin Nicol (PDMR)	17,031
Martin Pibworth (PDMR)	18,534

d)

Aggregated information

-      Aggregated volume

-      Price

As noted in 4c) above

As noted in 4c) above

e)

Date of transaction

27 July 2016

f)

Place of transaction

Outside a trading venue

This information is provided by RNS

The company news service from the London Stock Exchange

END

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