Director/PDMR Shareholding

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

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DSHJPMATMBIMBLL

Companies

Drax Group (DRX)
UK 100

Latest directors dealings