21 March 2022
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 Market Abuse Regulation (EU) No 596/2014 as incorporated into the law of England and Wales, Scotland and Northern Ireland by the European Union (Withdrawal) Act 2018, 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 413,101,440 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 Friday 18 March 2022, awards over shares were made under the Drax Group plc Long Term Incentive Plan 2020 ("LTIP") and the Drax Group plc 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 | 174,119 |
| Andy Skelton | 96,907 |
| Paul Sheffield | 41,168 |
| Penny Small | 43,529 |
| Matt White | 40,275 |
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 2021. 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 DSP award made |
| Will Gardiner | 45,809 |
| Andy Skelton | 25,590 |
Brett Gladden
Group Company Secretary
The information below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) 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 | 18 March 2022 | |||||||||
| 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 | 18 March 2022 | |||||||||
| 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 | Chief Commercial 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 | 18 March 2022 | ||||
| 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 | Group 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 | 18 March 2022 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | Matt White | ||||
| 2. | Reason for the notification | |||||
| a) | Position / status | Senior Vice President, North America | ||||
| 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 | 18 March 2022 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
--ENDS--
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
