Director/PDMR Shareholding

Released : 05/07/2017

RNS Number : 2526K
Severn Trent PLC
05 July 2017
 

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.

 

Severn Trent Plc ("the Company") has appointed Neil Morrison as its new HR Director, replacing Evelyn Dickey who retires on 31 August 2017.  Neil previously worked as Director for Strategy, Culture and Innovation at Penguin Random House UK.  On starting with the Company, Neil has been enrolled into the Company's Long Term Incentive Plan 2014 (the "Plan") and will be subject to the same performance conditions made to other senior executives in the Plan.

 

On his commencement, the Company granted an award to Neil on 3 July 2017 over 5,830 Ordinary Shares under the terms of the Plan (in line with the Directors' Remuneration Policy approved by shareholders at the Company's 2015 Annual General Meeting), as a Person Discharging Managerial Responsibility ("PDMR") of the Company as set out below.  These Ordinary Shares will vest at the end of a three year performance period, depending on the achievement of performance targets and service with the Company.  No consideration was paid for the grant of these awards and no payment is due on the release of any shares.  The share price used to calculate these awards was based on the average of the mid-market price for an Ordinary Share in the Company over 28, 29 and 30 June 2017.

 

Name

Status

No. of LTIP Shares Subject to Award

 

N Morrison

PDMR

5,830

 

The following notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives 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

Neil Morrison

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

Award of conditional shares under the Severn Trent Long Term Incentive Plan 2014.

c)

Price(s) and volume(s)


Price(s)

Volume(s)


Nil

5,830

d)

Aggregated information

- Aggregated volume

- Price

Volume 5,830 / Price GBP Nil

 

e)

Date of the transaction

2017-07-03

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

 

 


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