Director/PDMR Shareholding

RNS Number : 3256F
Drax Group PLC
21 March 2022
 

21 March 2022

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 Market Abuse Regulation (EU) No 596/2014 as incorporated into the law of England and Wales, Scotland and Northern Ireland by the European Union (Withdrawal) Act 2018, and the dealings were in respect of ordinary shares of 11 16/29 pence each in the share capital of Drax Group plc (the "Company"). As at the date of announcement, there are in issue413,101,440 shares ordinary shares of 11  16 / 29  pence each, of which 13,841,295 ordinary shares are held in treasury.  Treasury  shares do not carry voting rights .

 

On Friday 18 March 2022, awards over shares were made under the Drax Group plc Long Term Incentive Plan 2020 ("LTIP") and the Drax Group plc Deferred Share Plan ("DSP"). Consequently, the share interests of the under-noted directors and persons discharging managerial responsibility (PDMRs) have changed following the granting of these awards.

 

 

Awards made under the LTIP

 

The performance awards, made for nil consideration under the LTIP, are conditional awards. Vesting of the LTIP 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. Awards to executive directors are subject to an additional two-year holding period following the date of Vesting.

 

Director/PDMR

Number of shares over which LTIP award made

Will Gardiner

174,119

Andy Skelton

96,907

Paul Sheffield

41,168

Penny Small

43,529

Matt White

40,275

 

 

Awards made under the DSP

 

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 the financial year ended 31 December 2021. Vesting of the DSP shares is normally deferred for three years and subject to the participant remaining in employment until the vesting date. 

 

Director/PDMR

Number of shares over which DSP award made

Will Gardiner

45,809

Andy Skelton

25,590

 

Brett Gladden

Group Company Secretary

 

 

 

 

The information below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) 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)  Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

(ii)  Deferred award made pursuant to the Drax Group plc Deferred Share Plan ("DSP")

 

c)

Price(s) and volume(s)

 


Price(s)

Volume(s)

(i) 

Nil

174,119

(ii) 

Nil

45,809

d)

Aggregated information

-  Aggregated volume

-  Price

 

N/A

e)

Date of the transaction

 18 March 2022

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

(i)  Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

(ii)  Deferred award made pursuant to the Drax Group plc Deferred Share Plan ("DSP")

 

c)

Price(s) and volume(s)

 


Price(s)

Volume(s)

(i) 

Nil

96,907

(ii) 

Nil

25,590

d)

Aggregated information

-  Aggregated volume

-  Price

 

N/A

e)

Date of the transaction

18 March 2022

f)

Place of the transaction

Outside a trading venue

 

 

 

1.

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

a)

Name

Paul Sheffield

2.

Reason for the notification

a)

Position / status

Chief Commercial 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

Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)

Volume(s)

nil

41,168

 

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

N/A

e)

Date of the transaction

18 March 2022

f)

Place of the transaction

Outside a trading venue

 

 

1.

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

a)

Name

Penelope Small

2.

Reason for the notification

a)

Position / status

Group Generation Director

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

Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)

Volume(s)

nil

43,529

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

N/A

e)

Date of the transaction

18 March 2022

f)

Place of the transaction

Outside a trading venue

 

 

 

1.

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

a)

Name

Matt White

2.

Reason for the notification

a)

Position / status

Senior Vice President, North America

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

Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)

Volume(s)

nil

40,275

 

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

N/A

e)

Date of the transaction

 18 March 2022

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

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