Director/PDMR Shareholding

RNS Number : 0644H

Drax Group PLC

10 March 2015

 



10 March 2015

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 404,834,454 shares in issue immediately prior to dealing. There are 405,857,302 shares in issue post dealing.

The Company was notified today, 10 March 2015, that on 9 March 2015, 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 29 February 2012 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
Peter Emery	44,789	59,313	18,362
Tony Quinlan	54,387	72,023	22,298
Paul Taylor	37,637	49,843	15,431
Dorothy Thompson	86,649	114,743	35,524
Other PDMRs
Peter Bennell	23,206	13,784	-
Andy Koss	19,248	11,434	-
Matthew Rivers	16,345	9,709	-

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 the Tax Liability.

In addition, the Company was notified today that on 9 March 2015, one PDMR sold further shares. All shares were sold at 394 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
Peter Emery	29,786	7,575
Tony Quinlan	36,169	-
Paul Taylor	25,030	-
Dorothy Thompson	57,624	-
Other PDMRs		-
Peter Bennell	10,946	-
Andy Koss	9,079	-
Matthew Rivers	7,710	-

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

	Total shares held following transactions
Directors
Peter Emery	101,657
Tony Quinlan	125,769
Paul Taylor	77,953
Dorothy Thompson	293,673
Other PDMRs
Peter Bennell	49,799
Andy Koss	30,843
Matthew Rivers	8,635

Enquiries:

Drax Investor Relations: Michael Scott / Mark Strafford

[phone]

Media:

Drax Communications: Andrew Brown

[phone]

Brunswick: Richard Jacques

[phone]

Website: www.drax.com

END

 

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