Drax Group PLC

Director's Dealing • Mar 28, 2019

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RNS Number : 3760U

Drax Group PLC

28 March 2019

28 March 2019

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 28 March 2019, 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 (PDMRs) 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 2018.  Vesting of the DSP 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 for PDMRs. Vesting of the performance award shares is normally deferred for three years and subject to the satisfaction of certain performance conditions and to the participant remaining in employment until the vesting date.  

Director/PDMR	Number of shares over which Deferred Awards made	Number of shares over which Performance Awards made
Will Gardiner	38,941	247,245
Andy Koss	22,617	153,863
Andy Skelton		165,607
Clare Harbord		68,942
Jonathan Kini		111,960
Penny Small		70,641

There were 407,933,944 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	38,941

(ii)	nil	247,245

d)

Aggregated information

-      Aggregated volume

-      Price

286,186

nil

e)

Date of the transaction

28 March 2019

f)

Place of the transaction

Outside a trading venue

1.

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

a)

Name

Andrew 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	22,617
(ii)	nil	153,863

d)

Aggregated information

-      Aggregated volume

-      Price

176,480

nil

e)

Date of the transaction

28 March 2019

f)

Place of the transaction

Outside a trading venue

1.

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

a)

Name

Andrew Skelton

2.

Reason for the notification

a)

Position / status

Chief Financial 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

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	165,607

d)

Aggregated information

-      Aggregated volume

-      Price

165,607

nil

e)

Date of the transaction

28 March 2019

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	68,942

d)

Aggregated information

-      Aggregated volume

-      Price

68,942

nil

e)

Date of the transaction

28 March 2019

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	111,960

Aggregated information

-      Aggregated volume

-      Price

111,960

nil

Date of the transaction

28 March 2019

Place of the transaction

Outside a trading venue

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

Name

Penelope Small

Reason for the notification

Position / status

Chief Transformation Officer

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	70,641

Aggregated information

-      Aggregated volume

-      Price

70,641

nil

Date of the transaction

28 March 2019

Place of the transaction

Outside a trading venue

--ENDS--

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