Last checked at 8 Mar 2019 15:50
8 March 2019
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 407,919,462 shares in issue immediately prior to dealing.
On 7 March 2019, the individuals detailed in this notice, each a PDMR, had nil cost conditional share awards vest in relation to the matching share awards made on 2 March 2016 under the Company's Bonus Matching Plan ("the Plan"). In addition, Will Gardiner had an award vesting in relation to the deferred element of his 2015 annual bonus.
The Company was notified that today, 8 March 2019, the individuals had completed transactions in the Company's ordinary shares as detailed in the tables below:
Director/PDMR | Matching share awards vested1 | Matching share awards lapsed2 | Deferred share awards vested1 | Total share awards vested |
Will Gardiner | 217,211 | 149,780 | 5,395 | 222,606 |
Andy Koss | 38,090 | 26,270 | - | 38,090 |
Jonathan Kini | 53,817 | 37,117 | - | 53,817 |
Notes:
1. Includes shares in lieu of accrued dividends throughout the performance period.
2. Due to the performance conditions not being fully met.
Each of the PDMRs listed below sold sufficient of the shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares at 373.2876 pence per share, as explained below:
Director/PDMR | Total vested shares | Number of shares sold to meet the Tax Liability | Net shares held |
Will Gardiner | 222,606 | 104,993 | 117,613 |
Andy Koss | 38,090 | 17,966 | 20,124 |
Jonathan Kini | 53,817 | 25,384 | 28,433 |
Immediately following the sale of shares to meet the tax liability, Andy Koss transferred the balance of the shares to his spouse.
Brett Gladden
Group Company Secretary
Notification of dealing form
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| Will Gardiner | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| Group Chief Executive 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
| ZGEN8HJFCYNRVN1XCJ08 | ||||
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, type of instrument
Identification code | Ordinary shares of 11 16/29 pence each
GB00B1VNSX38 | ||||
b) | Nature of the transaction
|
Shares acquired pursuant to the vesting of 2016 awards under the Bonus Matching Plan, including accrued dividend shares.
Will Gardiner sold 104,993 shares to cover applicable taxes and costs and retained the balance of 117,613 shares
| ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
-Aggregated volume -Price
|
N/A (single transaction) | ||||
e) | Date of the transaction
| 7-8 March 2019 | ||||
f) | Place of the transaction
| XLON | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| Andy Koss | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| Chief Executive, Drax Power | ||||
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
| ZGEN8HJFCYNRVN1XCJ08 | ||||
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, type of instrument
Identification code | Ordinary shares of 11 16/29 pence each
GB00B1VNSX38 | ||||
b) | Nature of the transaction
|
Shares acquired pursuant to the vesting of 2016 awards under the Bonus Matching Plan, including accrued dividend shares.
Andy Koss sold 17,966 shares to cover applicable taxes and costs and immediately transferred the balance of 20,124 shares to his spouse.
| ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
-Aggregated volume -Price
|
N/A (single transaction) | ||||
e) | Date of the transaction
| 7-8 March 2019 | ||||
f) | Place of the transaction
| XLON | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| Jonathan Kini | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| Chief Executive, Drax Retail | ||||
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
| ZGEN8HJFCYNRVN1XCJ08 | ||||
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, type of instrument
Identification code | Ordinary shares of 11 16/29 pence each
GB00B1VNSX38 | ||||
b) | Nature of the transaction
|
Shares acquired pursuant to the vesting of 2016 awards under the Bonus Matching Plan, including accrued dividend shares.
Jonathan Kini sold 25,384 shares to cover applicable taxes and costs and retained the balance of 28,433 shares
| ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
-Aggregated volume -Price
|
N/A (single transaction) | ||||
e) | Date of the transaction
| 7-8 March 2019 | ||||
f) | Place of the transaction
| XLON | ||||
END