Source - RNS
RNS Number : 6037J
Vedanta Resources PLC
12 September 2016
 

VEDANTA RESOURCES PLC

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons- Grant of Forfeitable Shares Awards

This notification is made in accordance with Market Abuse Regulation 19 (3)

On 12 September 2016, Mr Anil Agarwal and Mr Navin Agarwal were granted forfeitable share awards over ordinary shares of US$0.10 each in Vedanta Resources plc (the "Company") under the Vedanta Resources Deferred Share Bonus Plan 2015, as follows

Name of PDMR

Number of Shares granted under Forfeitable Shares Awards

Anil Agarwal

119,084

Navin Agarwal

57,697

 

No consideration has been paid for the grant of the awards of forfeitable shares. 

The awards were granted in respect of annual bonuses earned for the Financial Year ended 31 March 2016.

Subject to the executive continuing to be a director or employee in the Vedanta Resources Plc group of companies, the shares held under the forfeitable shares awards shall normally cease to be subject to restrictions and at risk of forfeiture ("vest") on the dates and over the proportions of shares set out below.

(a)   Awards to Mr Anil Agarwal shall normally vest over the proportions of shares and on the dates set out below:

 

1.    40% of the total number of shares held shall vest on 19 May 2017

2.    30% of the total number of shares held shall vest on 19  May 2018; and

3.    30% of the total number of shares held shall vest on 19 May 2019; and

 

(b)   Awards to Mr Navin Agarwal shall normally vest over the proportions of shares and on the dates set out below:

 

1.    40% of the total number of shares held shall vest on 1 September 2017;

2.    30% of the total number of shares held shall vest on 1 September 2018 ; and

3.    30% of the total number of shares held shall vest on 1 September 2019.

The forfeitable shares will be held by and on behalf of the executive by Sanne Fiduciary Services Limited, acting as the executive's nominee (the "Nominee"). On vesting, the Nominee will transfer legal ownership of the shares to the executive.

The number of shares over which awards were granted was calculated by reference to, in the case of Mr Anil Agarwal, the average closing price of a share over the five dealing days immediately prior to the payment of his cash bonus on 19 May 2016 and, in the case of the shares awarded to Mr Navin Agarwal, the average closing price of a share over the five dealing days immediately before the date of payment of his cash bonus on 1 September 2016

 

Notification and public disclosure of transactions by persons discharging managerial Responsibilities and persons closely associated with them  

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Anil Agarwal

2

Reasons for  the Notification

a)

Position / status

Executive Chairman

 

b)

Initial notification / amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a

Name

Vedanta Resources plc ("Vedanta")

b

LEI

N/A

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

Vedanta Ordinary Shares of US$0.10 each

ISIN:GB0033277061

b)

Nature of the transaction

Grant of Forfeitable share awards over Ordinary Shares of US$0.10 under the Vedanta Resources Deferred Share Bonus Plan 2015

c)

Currency

GBP - British Pound

d)

Price(s) and volume(s)

 

 

 

 

Price(s)

Volume(s)

0.00

119,084

 

e)

Aggregated information

-     Aggregated volume

-     Price

 

 

Single Transaction

f)

Date of the transaction

2016.09.12

g)

Place of the transaction

London Stock Exchange (XLON) (Main Market)

Name of authorised official of issuer responsible for making notification

 

DEEPAK KUMAR, COMPANY SECRETARY

 

Date of notification: 12 September 2016

Notification and public disclosure of transactions by persons discharging managerial Responsibilities and persons closely associated with them  

1.

Details of PDMR / person closely associated with them ("PCA")

 

a)

Name

Navin Agarwal

 

2

Reasons for  the Notification

 

a)

Position / status

Vice Chairman

 

 

b)

Initial notification / amendment

Initial Notification

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a

Name

Vedanta Resources plc ("Vedanta")

 

b

LEI

N/A

 

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

Vedanta Ordinary Shares of US$0.10 each

ISIN:GB0033277061

 

b)

Nature of the transaction

Grant of Forfeitable share awards over Ordinary Shares of US$0.10 under the Vedanta Resources Deferred Share Bonus Plan 2015

 

 

c)

Currency

GBP - British Pound

 

d)

Price(s) and volume(s)

 

 

 

 

Price(s)

Volume(s)

0.00

57,697

 

 

e)

Aggregated information

-     Aggregated volume

-     Price

 

 

Single Transaction

 

f)

Date of the transaction

2016.09.12

 

g)

Place of the transaction

London Stock Exchange (XLON) (Main Market)

 

Name of authorised official of issuer responsible for making notification

 

DEEPAK KUMAR, COMPANY SECRETARY

 

Date of notification: 12 September 2016

 

For any queries in respect of the above, please contact:

Vedanta Resources plc

Tel: 020 7459 5900

Deepak Kumar, Company Secretary

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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