Director/PDMR Shareholding

RNS Number : 2327N

SSE PLC

26 September 2012

 



SSE PLC (SSE/the Company)

PDMR TRANSACTIONS

DISCLOSURE PURSUANT TO DISCLOSURE AND TRANSPARENCY RULE 3.1.4R(1)(a)

PERFORMANCE SHARE PLAN (PSP)

GRANT OF AWARD

SSE announces the grant, on 26 September 2012, of an award of 19,770 ordinary shares to Will Morris, MD Retail and PDMR, under the Company's PSP.

The number of shares stated is the maximum which will become available to Mr Morris if the performance targets applicable to the award are achieved in full.  The number of shares under this award has been calculated by reference to the price of £13.91 per share, being the average of the mid market closing prices over the period 17 September to 21 September 2012 inclusive.

Vesting of this award will only take place if the financial performance conditions over the three year performance period 1 April 2012 to 31 March 2015 are satisfied and Mr Morris remains in employment.  The earliest date on which Mr Morris will normally become entitled to the shares comprised in this award is the date of announcement of results for the financial year ending 31 March 2015, or as otherwise determined by the rules of the PSP.

 

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