Drax Group PLC

Director's Dealing • Mar 8, 2019

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RNS Number : 3624S

Drax Group PLC

08 March 2019

8 March 2019

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 of which there were 407,919,462 shares in issue immediately prior to dealing.

On 7 March 2019, the individuals detailed in this notice, each a PDMR, had nil cost conditional share awards vest in relation to the matching share awards made on 2 March 2016 under the Company's Bonus Matching Plan ("the Plan"). In addition, Will Gardiner had an award vesting in relation to the deferred element of his 2015 annual bonus.

The Company was notified that today, 8 March 2019, the individuals had completed transactions in the Company's ordinary shares as detailed in the tables below:

Director/PDMR	Matching share awards vested1	Matching share awards lapsed2	Deferred share awards vested1	Total share awards vested
Will Gardiner	217,211	149,780	5,395	222,606
Andy Koss	38,090	26,270	-	38,090
Jonathan Kini	53,817	37,117	-	53,817

Notes:

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

2.     Due to the performance conditions not being fully met.

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 373.2876 pence per share, as explained below:

Director/PDMR	Total vested shares	Number of shares sold to meet the Tax Liability	Net shares held
Will Gardiner	222,606	104,993	117,613
Andy Koss	38,090	17,966	20,124
Jonathan Kini	53,817	25,384	28,433

Immediately following the sale of shares to meet the tax liability, Andy Koss transferred the balance of the shares to his spouse.

Brett Gladden

Group Company Secretary

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 2016 awards under the Bonus Matching Plan, including accrued dividend shares.

Will Gardiner sold 104,993 shares to cover applicable taxes and costs and retained the balance of 117,613 shares 

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£ 3.732876	222,606

d)

Aggregated information

-Aggregated volume

-Price

N/A (single transaction)

e)

Date of the transaction

7-8 March 2019

f)

Place of the transaction

XLON

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Andy Koss

2

Reason for the notification

a)

Position/status

Chief Executive, Drax Power

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 2016 awards under the Bonus Matching Plan, including accrued dividend shares.

Andy Koss sold 17,966 shares to cover applicable taxes and costs and immediately transferred the balance of 20,124 shares to his spouse.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£3.732876	38,090

d)

Aggregated information

-Aggregated volume

-Price

N/A (single transaction)

e)

Date of the transaction

7-8 March 2019

f)

Place of the transaction

XLON

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Jonathan Kini

2

Reason for the notification

a)

Position/status

Chief Executive, Drax Retail

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 2016 awards under the Bonus Matching Plan, including accrued dividend shares.

Jonathan Kini sold 25,384 shares to cover applicable taxes and costs and retained the balance of 28,433 shares 

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£3.732876	53,817

d)

Aggregated information

-Aggregated volume

-Price

N/A (single transaction)

e)

Date of the transaction

7-8 March 2019

f)

Place of the transaction

XLON

END

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