Director/PDMR Shareholding

RNS Number : 2516C
Drax Group PLC
13 March 2014
 



13 March 2014

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 402,570,658 shares in issue immediately prior to dealing. There are 404,697,592 shares in issue post dealing.

 

The Company was notified today, 13 March 2014, that on 10 March 2014, the individuals detailed in this notice, each a PDMR, had nil cost conditional share awards vest in relation to the matching share awards and deferred element of annual bonus awards made on 7 March 2011 under the Company's long term incentive plan ("the Plan") and entered into transactions in the Company's ordinary shares as detailed in the tables below.

 

Details of the share awards vested and lapsed are as follows:

 

Matching share

awards vested1

Matching share awards lapsed2

Deferred share

awards vested1

Directors

Dorothy Thompson

277,367

3,452

46,893

Tony Quinlan

174,100

2,167

29,434

Peter Emery

143,376

1,785

24,239

Paul Taylor                

87,474

1,089

14,788

Other PDMRs

Philip Hudson            

83,208

1,036

14,067

Andrew Koss

36,785

304

-

 

Notes:

1.     Includes Distribution Shares added at vesting based on accrued dividends throughout the performance period.

2.     Due to the Performance Conditions not being fully met.

 

The rules of the Plan permit the Company to procure the sale of sufficient of the individuals' vested shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares.  The Company has accordingly procured the sale of vested shares to meet Tax Liability.

 

In addition, the Company was notified today that between 10 March 2014 and 12 March 2014, the individuals have sold further shares. All shares were sold at 783.4702 pence per share and details of the sales are in the table below:

 

Number of shares sold to meet Tax Liability

Number of further shares sold

Directors

Dorothy Thompson

154,845

40,000

Tony Quinlan

97,196

40,000

Peter Emery

80,043

60,000

Paul Taylor                  

48,834

20,000

Other PDMRs

Philip Hudson                  

46,453

40,000

Andrew Koss

17,567

10,000

 

 

 

 

The total holdings of each of the PDMRs following the transactions detailed above are:

 

Total shares held following transactions

Directors

Dorothy Thompson

229,124

Tony Quinlan

85,253

Peter Emery

75,867

Paul Taylor                  

49,915

Other PDMRs

Philip Hudson                

24,273

Andrew Koss

17,863

 

 

Enquiries:

Drax Investor Relations: Michael Scott

+44 (0) 1757 612 230

 

Media:

Drax Communications: Melanie Wedgbury

+44 (0) 1757 612 438

 

Brunswick: Richard Jacques / Nina Coad

+44 (0) 207 404 5959

 

Website: www.drax.com

 

END

 

 


This information is provided by RNS
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