Last checked at 11 May 2020 07:00
11 May 2020
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 EU Market Abuse Regulation 596/2014 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").
On 22 April 2020, at the Annual General Meeting of the Company, shareholders approved the Remuneration Policy and the Drax Group plc Long Term Incentive Plan 2020.
On 7 May 2020, awards over shares were made under the Drax Group plc Long Term Incentive Plan 2020 ("LTIP"). Consequently, the share interests of the under-noted directors and persons discharging managerial responsibility (PDMRs) have changed following the granting of these awards.
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 a two-year holding period following the date of Vesting.
There may arise circumstances during the Vesting Period where adjustment or discretion is applied by the Remuneration Committee by reference to exceptional items and the Directors' Remuneration Policy. The application of such adjustments would be considered during and upon completion of the Vesting Period. In making their assessment, the Remuneration Committee will take into account appropriate advice (for example from the Company's auditors, the Remuneration Committee advisers or the Audit Committee), also giving due consideration to the shareholder experience and to what extent the outcome incorporates any windfall gain, which warrants adjustment. The Remuneration Committee would also take into account exceptional and unforeseen circumstances in assessing the appropriate level of Vesting judged against the performance of the Company and management at the end of the Vesting Period.
Director/PDMR | Number of shares over which LTIP award made |
Will Gardiner | 562,506 |
Andy Skelton | 320,697 |
Clare Harbord | 137,244 |
Esa Heiskanen | 141,958 |
Paul Sheffield | 141,733 |
Jason Shipstone | 123,665 |
Penny Small | 140,626 |
There were 410,571,755 shares in issue at the time of this notification.
The information below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation 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 | Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP") | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A | ||||
e) | Date of the transaction | 7 May 2020 | ||||
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 | Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP") | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A | ||||
e) | Date of the transaction | 7 May 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Clare Harbord | ||||
2. | Reason for the notification | |||||
a) | Position / status | Director of Corporate Affairs | ||||
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 | Performance awards made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP") | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A | ||||
e) | Date of the transaction | 7 May 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Esa Heiskanen | ||||
2. | Reason for the notification | |||||
a) | Position / status | Chief Officer Capital Projects | ||||
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) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A | ||||
e) | Date of the transaction | 7 May 2020 | ||||
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 | Managing Director Customers | ||||
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) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A | ||||
e) | Date of the transaction | 7 May 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Jason Shipstone | ||||
2. | Reason for the notification | |||||
a) | Position / status | EVP Innovation | ||||
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) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
N/A | ||||
e) | Date of the transaction | 7 May 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Details of PDMR / person closely associated with them ("PCA") | |||||
Name | Penelope Small | ||||
Reason for the notification | |||||
Position / status | Chief Transformation 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 GB00BIVNSX38 | ||||
Nature of the transaction | Performance awards made pursuant to the Drax Group plc Long Term Incentive Plan ("LTIP") | ||||
Price(s) and volume(s) |
| ||||
Aggregated information - Aggregated volume - Price |
N/A | ||||
Date of the transaction | 7 May 2020 | ||||
Place of the transaction | Outside a trading venue | ||||
--ENDS--