1 April 2021
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"). As at the date of announcement, there are in issue 411,732,605 shares ordinary shares of 11 16/29 pence each, of which 13,841,295 ordinary shares are held in treasury. Treasury shares do not carry voting rights.
On 1 April 2021, awards over shares were made under the Company's Long Term Incentive Plan 2020 ("LTIP") and Deferred Share Plan ("DSP"). Consequently, the share interests of the under-noted directors and persons discharging managerial responsibility (PDMRs) have changed following the granting of these awards.
Awards made under the LTIP
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 an additional two-year holding period following the date of Vesting.
| Director/PDMR | Number of shares over which LTIP award made |
| Will Gardiner | 266,650 |
| Andy Skelton | 152,022 |
| Clare Harbord | 65,058 |
| Esa Heiskanen | 67,293 |
| Mike Maudsley | 59,394 |
| Paul Sheffield | 67,186 |
| Jason Shipstone | 58,622 |
| Penny Small | 66,662 |
Awards made under the DSP
The deferred awards, made under the DSP for nil consideration as conditional awards, were made in respect of the deferred element of the annual bonus for the financial year ended 31 December 2020. Vesting of the DSP shares is normally deferred for three years and subject to the participant remaining in employment until the vesting date.
| Director/PDMR | Number of shares over which Deferred Awards made |
| Will Gardiner | 54,498 |
| Andy Skelton | 30,441 |
Brett Gladden
Group Company Secretary
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 | (i) Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP") (ii) Deferred award made pursuant to the Drax Group plc Deferred Share Plan ("DSP")
| |||||||||
| c) | Price(s) and volume(s) |
| |||||||||
| d) | Aggregated information - Aggregated volume - Price |
N/A | |||||||||
| e) | Date of the transaction | 1 April 2021 | |||||||||
| 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 | (i) Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP") (ii) Deferred award made pursuant to the Drax Group plc Deferred Share Plan ("DSP")
| |||||||||
| c) | Price(s) and volume(s) |
| |||||||||
| d) | Aggregated information - Aggregated volume - Price |
N/A | |||||||||
| e) | Date of the transaction | 1 April 2021 | |||||||||
| 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 | 1 April 2021 | ||||
| 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 | 1 April 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | Mike Maudsley | ||||
| 2. | Reason for the notification | |||||
| a) | Position / status | UK Portfolio Generation Director | ||||
| 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 | 1 April 2021 | ||||
| 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 | 1 April 2021 | ||||
| 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 | Chief Innovation 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 | 1 April 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | Penelope Small | ||||
| 2. | Reason for the notification | |||||
| a) | Position / status | Chief Transformation 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 | Performance awards made pursuant to the Drax Group plc Long Term Incentive Plan ("LTIP") | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
N/A | ||||
| e) | Date of the transaction | 1 April 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
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