18 March 2024
DRAX GROUP
PLC
Symbol: DRX
("Drax", "the Group", "Drax
Group", "the Company")
Notification of Transactions
of Directors,
Persons Discharging
Managerial Responsibility or Connected Persons
On Friday 15 March 2024, 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), as
part of the normal annual cycle of grants. 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*
|
292,225
|
|
Andy Skelton*
|
162,649
|
|
Paul Sheffield
|
70,413
|
|
Laurie Fitzmaurice
|
91,167
|
*Executive Directors of Drax Group
plc.
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 2023. Vesting of the DSP shares is
normally deferred for three years and subject 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 DSP award made
|
|
Will Gardiner
|
68,818
|
|
Andy Skelton
|
37,523
|
Awards made pursuant to a share award buyout
Laurie Fitzmaurice joined the Group
in February 2024. In accordance with the terms of the contract of
employment, a "buyout" award of 102,626 shares was made to Ms
Fitzmaurice under the LTIP to replace awards forfeited with her
previous employer. Vesting of the awards which were forfeited were
solely subject to continued employment. Vesting of the replacement
award is also solely subject to continued employment within the
Group. The vesting will be in tranches, taking account of the
vesting dates of the forfeited awards, as set out below.
|
Date of vesting
|
Number of shares over which
share award made
|
|
15 April 2024
|
16,420
|
|
15 March 2025
|
43,396
|
|
15 March 2026
|
42,810
|
Brett Gladden
Group Company Secretary
The notifications below are all in
accordance with the requirements of Article 19 of the UK Market
Abuse Regulation.
|
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)
|
|
|
Price(s)
|
Volume(s)
|
|
(i)
|
Nil
|
292,225
|
|
(ii)
|
Nil
|
68,818
|
|
|
d)
|
Aggregated information
- Aggregated
volume
-
Price
|
N/A
|
|
e)
|
Date of the transaction
|
15 March 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1.
|
Details of PDMR / person closely associated with them
("PCA")
|
|
a)
|
Name
|
Andy 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)
|
|
|
Price(s)
|
Volume(s)
|
|
(i)
|
Nil
|
162,649
|
|
(ii)
|
Nil
|
37,523
|
|
|
d)
|
Aggregated information
- Aggregated
volume
-
Price
|
N/A
|
|
e)
|
Date of the transaction
|
15 March 2024
|
|
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
|
Awards made pursuant to The Drax
Group plc Long Term Incentive Plan 2020 (LTIP)
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
nil
|
70,413
|
|
|
d)
|
Aggregated information
- Aggregated
volume
-
Price
|
N/A
|
|
e)
|
Date of the transaction
|
15 March 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1.
|
Details of PDMR / person closely associated with them
("PCA")
|
|
a)
|
Name
|
Laurie Fitzmaurice
|
|
2.
|
Reason for the notification
|
|
a)
|
Position / status
|
President - Global BECCS
|
|
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) Buyout
award pursuant to the LTIP
|
|
c)
|
Price(s) and volume(s)
|
|
|
Price(s)
|
Volume(s)
|
|
(i)
|
Nil
|
91,167
|
|
(ii)
|
Nil
|
102,626
|
|
|
d)
|
Aggregated information
- Aggregated
volume
-
Price
|
N/A
|
|
e)
|
Date of the transaction
|
15 March 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
--ENDS--