Last checked at 20 Jul 2017 17:15
LEI: 213800RPBXRETY4A4C59
Severn Trent Plc (the "Company") - Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and their Closely Associated Persons
This notification is made in accordance with the Market Abuse Regulation.
Vesting of Awards held by Executive Directors
In accordance with the terms of individual agreements between the Company and the following Executive Directors ("Agreements"), Shares have vested and on 18 July 2017 the independent trustee of the Severn Trent Plc Employee Share Ownership Trust ("Trustee") transferred the beneficial interest in a total of 30,969 Shares to the Executive Directors for nil consideration in satisfaction of the following Tranches of their Award.
PDMRs are potential beneficiaries under the Trust and, therefore, (except as disclosed below) their interests in shares held by the Trust ceased on such transfer.
Participant and date of individual Agreement | Number of conditional shares awarded | Number of shares released to Executive Director*
| Number of shares sold to cover tax liability | Number of additional shares sold | Price at which shares sold | Net number of shares acquired |
J Bowling (29.05.15) | 14,116 Tranche 3 | 15,449
| 7,248 | N/A | £22.369 | 8,201 |
E FitzGerald (21.07.15) | 14,498 Tranche 2 | 15,520
| 7,282 | N/A | £22.369 | 8,238 |
\* The number of shares released includes additional shares calculated to reflect dividends declared during the period from grant until vesting, in accordance with the LTIP rules.
Notifications set out below, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail.
Vesting of Shares under the Long Term Incentive Plan 2014 ("LTIP")
On 18 July 2017, the Trustee transferred the beneficial interest in a total of 11,913 Shares for nil consideration to Martin Kane, being a Person Discharging Managerial Responsibilities (PDMR), pursuant to awards made under the LTIP in 2014.
PDMRs are potential beneficiaries under the Trust and, therefore, (except as disclosed below) Martin Kane's interest in shares held by the Trust ceased on such transfer.
Participant and date of award | Number of conditional shares awarded | Number of shares released to PDMR*
| No. of Shares sold to cover tax liability | Number of additional shares sold | Price at which shares sold | Net number of shares acquired |
M J Kane (16.07.14) | 10,720 | 11,909 | 5,588 | N/A | £22.369 | 6,321 |
\* The number of shares released includes additional shares calculated to reflect dividends declared during the period from grant until vesting, in accordance with the LTIP rules.
The notification set out below, made in accordance with the requirements of the EU Market Abuse Regulation, gives further detail.
On 18 July 2017, the Company transferred a total of 132,399 Shares (which it held as treasury shares) for nil consideration to participants in the LTIP, pursuant to awards made under the LTIP in 2014, including 105,673 Shares to PDMRs as indicated in the table below.
Participant and date of award | Number of conditional shares awarded | Number of shares released to PDMR*
| Number of shares sold to cover tax liability | Number of additional shares sold | Price at which shares sold | Net number of shares acquired |
A Ballance (16.07.14) | 8,817 | 9,796
| 4,596 | N/A | £22.369 | 5,200 |
E Dickey (16.07.14) | 5,594 | 6,214
| 2,916 | N/A | £22.369 | 3,298 |
O Garfield (16.07.14) | 42,383 | 47,097 | 22,096 | N/A | £22.369 | 25,001 |
B Kennedy (16.07.14) | 7,347 | 8,162
| 3,830 | N/A | £22.369 | 4,332 |
A P Smith (16.07.14) | 11,459 | 12,732
| 5,974
| N/A | £22.369 | 6,758 |
S Bentley (03.12.14) | 12,221 | 13,578
| 6,371
| N/A | £22.369 | 7,207 |
H Miles (03.12.14) | 7,271 | 8,078
| 3,790
| N/A | £22.369 | 4,288 |
\* The number of shares released includes additional shares calculated to reflect dividends declared during the period from grant until vesting, in accordance with the LTIP rules.
Notifications set out below, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail.
For further information please contact:
Ruban Chandran, Head of Investor Relations
07957 166 615
ruban.chandran@severntrent.co.uk
www.severntrent.com
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
a) | Name | James Bowling | ||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||
a) | Position/status | Director | ||||||||||||||||||||
b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
a) | Name | Severn Trent Plc | ||||||||||||||||||||
b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
b) | Nature of the transaction | Following the release of shares from Trust under a conditional award granted by Agreement on 29 May 2015, the sale of shares to fund the associated income tax and national insurance liability. | ||||||||||||||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 15,449 / Price GBP Nil Tax/NI Sale: Volume 7,248 / Price GBP £22.369
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e) | Date of the transaction | 2017-07-18 | ||||||||||||||||||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
a) | Name | Emma FitzGerald | ||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||
a) | Position/status | Director | ||||||||||||||||||||
b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
a) | Name | Severn Trent Plc | ||||||||||||||||||||
b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
b) | Nature of the transaction | Following the release of shares from Trust under a conditional award granted by Agreement on 21 July 2015, the sale of shares to fund the associated income tax and national insurance liability. | ||||||||||||||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 15,520 / Price GBP Nil Tax/NI Sale: Volume 7,282 / Price GBP £22.369
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e) | Date of the transaction | 2017-07-18 | ||||||||||||||||||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
a) | Name | Martin Kane | ||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||
a) | Position/status | PDMR | ||||||||||||||||||||
b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
a) | Name | Severn Trent Plc | ||||||||||||||||||||
b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
b) | Nature of the transaction | Following the release of shares from Trust to satisfy a conditional award granted on 16 July 2014 under the LTIP, the sale of shares to fund the associated income tax and national insurance liability. | ||||||||||||||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 11,909 Price GBP Nil Tax/NI Sale: Volume 5,588 / Price GBP £22.369
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e) | Date of the transaction | 2017-07-18 | ||||||||||||||||||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
a) | Name | Anthony Ballance | ||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||
a) | Position/status | PDMR | ||||||||||||||||||||
b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
a) | Name | Severn Trent Plc | ||||||||||||||||||||
b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
b) | Nature of the transaction | Following the transfer of treasury shares to satisfy a conditional award granted on 16 July 2014 under the LTIP, the sale of shares to fund the associated income tax and national insurance liability. | ||||||||||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||||||||||
d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 9,796 / Price GBP Nil Tax/NI Sale: Volume 4,596 / Price GBP £22.369
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e) | Date of the transaction | 2017-07-18 | ||||||||||||||||||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
a) | Name | Evelyn Dickey | ||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||
a) | Position/status | PDMR | ||||||||||||||||||||
b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
a) | Name | Severn Trent Plc | ||||||||||||||||||||
b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
b) | Nature of the transaction | Following the transfer of treasury shares to satisfy a conditional award granted on 16 July 2014 under the LTIP, the sale of shares to fund the associated income tax and national insurance liability. | ||||||||||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||||||||||
d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 6,214 / Price GBP Nil Tax/NI Sale: Volume 2,916 / Price GBP £22.369
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e) | Date of the transaction | 2017-07-18 | ||||||||||||||||||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
a) | Name | Olivia Garfield | ||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||
a) | Position/status | PDMR | ||||||||||||||||||||
b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
a) | Name | Severn Trent Plc | ||||||||||||||||||||
b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
b) | Nature of the transaction | Following the transfer of treasury shares to satisfy a conditional award granted on 16 July 2014 under the LTIP, the sale of shares to fund the associated income tax and national insurance liability. | ||||||||||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||||||||||
d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 47,097 / Price GBP Nil Tax/NI Sale: Volume 22,096 / Price GBP £22.369
| ||||||||||||||||||||
e) | Date of the transaction | 2017-07-18 | ||||||||||||||||||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
a) | Name | Bronagh Kennedy | ||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||
a) | Position/status | PDMR | ||||||||||||||||||||
b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
a) | Name | Severn Trent Plc | ||||||||||||||||||||
b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
b) | Nature of the transaction | Following the transfer of treasury shares to satisfy a conditional award granted on 16 July 2014 under the LTIP, the sale of shares to fund the associated income tax and national insurance liability. | ||||||||||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||||||||||
d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 8,162 / Price GBP Nil Tax/NI Sale: Volume 3,830 / Price GBP £22.369
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e) | Date of the transaction | 2017-07-18 | ||||||||||||||||||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
a) | Name | Andrew Smith | ||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||
a) | Position/status | PDMR | ||||||||||||||||||||
b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
a) | Name | Severn Trent Plc | ||||||||||||||||||||
b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
b) | Nature of the transaction | Following the transfer of treasury shares to satisfy a conditional award granted on 16 July 2014 under the LTIP, the sale of shares to fund the associated income tax and national insurance liability. | ||||||||||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||||||||||
d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 12,732 / Price GBP Nil Tax/NI Sale: Volume 5,974 / Price GBP £22.369
| ||||||||||||||||||||
e) | Date of the transaction | 2017-07-18 | ||||||||||||||||||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
a) | Name | Sarah Bentley | ||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||
a) | Position/status | PDMR | ||||||||||||||||||||
b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
a) | Name | Severn Trent Plc | ||||||||||||||||||||
b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
b) | Nature of the transaction | Following the transfer of treasury shares to satisfy a conditional award granted on 3 December 2014 under the LTIP, the sale of shares to fund the associated income tax and national insurance liability. | ||||||||||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||||||||||
d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 13,578 / Price GBP Nil Tax/NI Sale: Volume 6,371 / Price GBP £22.369
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e) | Date of the transaction | 2017-07-18 | ||||||||||||||||||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
a) | Name | Helen Miles | ||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||
a) | Position/status | PDMR | ||||||||||||||||||||
b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
a) | Name | Severn Trent Plc | ||||||||||||||||||||
b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
b) | Nature of the transaction | Following the transfer of treasury shares to satisfy a conditional award granted on 3 December 2014 under the LTIP, the sale of shares to fund the associated income tax and national insurance liability. | ||||||||||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||||||||||
d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 8,078 / Price GBP Nil Tax/NI Sale: Volume 3,790 / Price GBP £22.369
| ||||||||||||||||||||
e) | Date of the transaction | 2017-07-18 | ||||||||||||||||||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||