Drax Group PLC — Director's Dealing 2018

Mar 8, 2018

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RNS Number : 1446H

Drax Group PLC

08 March 2018

8 March 2018

DRAX GROUP PLC

Symbol: DRX

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

The notifications below are all in accordance with the requirements of Article 19 (3) of the EU Market Abuse Regulation 596/2014 and the dealings were in respect of ordinary shares of 11 16/29 pence each in the share capital of Drax Group plc.

On 5 March 2018, awards over shares were made under the Drax Group plc Deferred Share Plan ("DSP") and performance share awards made under the Drax Group plc Performance Share Plan ("PSP"). Consequently, the share interests of the under-noted directors and persons discharging managerial responsibility have changed following the making of these awards.

The deferred awards, made under the DSP for nil consideration as conditional awards, were made in respect of the deferred element of the annual bonus for 2017.  Vesting of the deferred award shares is normally deferred for three years and subject to the participant remaining in employment until the vesting date. 

The performance awards, made for nil consideration under the PSP, are conditional awards and vesting is subject to performance conditions (relative total shareholder return (50% of each award) and average corporate balanced scorecard (50% of each award)) established in accordance with the rules of the PSP and measured over a three year period commencing on 1 January 2018.  

Director/PDMR	Number of shares over which Deferred Awards made	Number of shares over which Performance Awards made
Will Gardiner	40,327	363,725
Andy Koss	32,055	218,063
Clare Harbord	-	98,039
Jonathan Kini	-	98,039

There were 407,034,896 shares in issue at the time of this notification.

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

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Will Gardiner

2.

Reason for the notification

a)

Position / status

Group Chief Executive

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

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

(i) Deferred awards made pursuant to the Drax Group plc Deferred Share Plan ("DSP")

(ii) Performance awards made pursuant to the Drax Group plc Performance Share Plan ("PSP")

c)

Price(s) and volume(s)

	Price(s)	Volume(s)
(i)	nil	40,327

(ii)	nil	363,725

d)

Aggregated information

-      Aggregated volume

-      Price

404,052

nil

e)

Date of the transaction

5 March 2018

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ("PCA")

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

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

(i)            Deferred awards made pursuant to the Drax Group plc Deferred Share Plan ("DSP")

(ii)           Performance awards made pursuant to the Drax Group plc Performance Share Plan ("PSP")

c)

Price(s) and volume(s)

	Price(s)	Volume(s)
(i)	nil	32,055
(ii)	nil	218,063

d)

Aggregated information

-      Aggregated volume

-      Price

250,118

nil

e)

Date of the transaction

5 March 2018

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ("PCA")

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

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

Performance awards made pursuant to the Drax Group plc Performance Share Plan ("PSP")

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	98,039

d)

Aggregated information

-      Aggregated volume

-      Price

98,039

nil

e)

Date of the transaction

f)

Place of the transaction

Outside a trading venue

Details of PDMR / person closely associated with them ("PCA")

Name

Jonathan Kini

Reason for the notification

Position / status

Chief Executive, Drax Retail

Initial notification / amendment

Initial Notification

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

Name

Drax Group plc

LEI

549300YPSNTXR4ZHSR98

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

Description of the financial instrument

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

Nature of the transaction

Performance awards made pursuant to the Drax Group plc Performance Share Plan ("PSP")

Price(s) and volume(s)

Price(s)	Volume(s)
nil	98,039

Aggregated information

-      Aggregated volume

-      Price

98,039

nil

Date of the transaction

5 March 2018

Place of the transaction

Outside a trading venue

David McCallum

Company Secretary

--ENDS--

This information is provided by RNS

The company news service from the London Stock Exchange

END

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