Director/PDMR Shareholding

RNS Number : 9890U

Drax Group PLC

31 March 2023

 

31 March 2023

Drax Group plc

("Drax" or "the Company")

Symbol: DRX

Notification of Transactions of Directors,

Persons Discharging Managerial Responsibility or Connected Persons

Vesting of Deferred Share Plan Shares

On 30 March 2023, shares in Drax Group plc were issued to Will Gardiner (CEO) and Andy Skelton (CFO) as set forth in the table below.

The issuance was an automatic vesting on conclusion of a three-year vesting period of awards originally granted on 30 March 2020 under the Drax Group plc Deferred Share Plan (the "DSP"). The shares granted in March 2020 represented the deferred element of the annual bonus for the financial year ended 31 December 2019.

The Company was notified on 30 March 2023 that Will Gardiner and Andy Skelton each sold sufficient shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares   at 529.43 pence per share. Both Will Gardiner and Andy Skelton retained the balance of the shares as explained below.

Director/PDMR	Total DSP award vesting1	Number of shares sold to meet the tax liability	Net shares retained
Will Gardiner	93,616	44,120	49,496
Andy Skelton	56,930	26,834	30,096

Notes:

1.  Includes shares in lieu of accrued dividends throughout the holding period.

Following the vesting, Will Gardiner holds 742,871 shares in the Company.

Following the vesting, Andy Skelton holds 264,821 shares in the Company.

The information below is provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.

Details of PDMR / person closely associated with them ("PCA")
Name	Will Gardiner
Reason for the notification
Position / status	Group Chief Executive
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 GB00B1VNSX38
Nature of the transaction	Automatic vesting of the 2020 DSP award and sale of sufficient shares to cover taxes due.
Price(s) and volume(s)	Price(s) Volume(s) 529.43 pence per share 44,120
Aggregated information -  Aggregated volume -  Price	n/a
Date of the transaction	30 March 2023
Place of the transaction	XLON

Details of PDMR / person closely associated with them ("PCA")
Name	Andy Skelton
Reason for the notification
Position / status	Chief Financial 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 GB00B1VNSX38
Nature of the transaction	Automatic vesting of the 2020 DSP award and sale of sufficient shares to cover taxes due.
Price(s) and volume(s)	Price(s) Volume(s) 529.43 pence per share 26,834
Aggregated information -  Aggregated volume -  Price	n/a
Date of the transaction	30 March 2023
Place of the transaction	XLON

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