DRAX GROUP PLC 
By
13 March 2014
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 402,570,658 shares in issue immediately prior to dealing. There are 404,697,592 shares in issue post dealing.
The Company was notified today, 13 March 2014, that on 10 March 2014, 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 7 March 2011 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 | |||
Dorothy Thompson | 277,367 | 3,452 | 46,893 |
Tony Quinlan | 174,100 | 2,167 | 29,434 |
Peter Emery | 143,376 | 1,785 | 24,239 |
Paul Taylor | 87,474 | 1,089 | 14,788 |
Other PDMRs | |||
Philip Hudson | 83,208 | 1,036 | 14,067 |
Andrew Koss | 36,785 | 304 | - |
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 Tax Liability .
In addition, the Company was notified today that between 10 March 2014 and 12 March 2014, the individuals have sold further shares. All shares were sold at 783.4702 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 | ||
Dorothy Thompson | 154,845 | 40,000 |
Tony Quinlan | 97,196 | 40,000 |
Peter Emery | 80,043 | 60,000 |
Paul Taylor | 48,834 | 20,000 |
Other PDMRs | ||
Philip Hudson | 46,453 | 40,000 |
Andrew Koss | 17,567 | 10,000 |
The total holdings of each of the PDMRs following the transactions detailed above are:
Total shares held following transactions | |
Directors | |
Dorothy Thompson | 229,124 |
Tony Quinlan | 85,253 |
Peter Emery | 75,867 |
Paul Taylor | 49,915 |
Other PDMRs | |
Philip Hudson | 24,273 |
Andrew Koss | 17,863 |
Enquiries:
Drax Investor Relations: Michael Scott
+44 (0) 1757 612 230
Media:
Drax Communications: Melanie Wedgbury
+44 (0) 1757 612 438
Brunswick: Richard Jacques / Nina Coad
+44 (0) 207 404 5959
Website: www.drax.com
END
This information is provided by RNS
|
distributed by
|
