30th Aug 2017 12:08
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 Article19 (3) of the EU Market Abuse Regulation.
On 25 August 2017, Mr Anil Agarwal and Mr Navin Agarwal were granted forfeitable shares 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 | 85,861 |
Navin Agarwal | 47,563 |
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 2017.
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.
1. 40% of the total number of shares held shall vest on 25 August 2018;
2. 30% of the total number of shares held shall vest on 25 August 2019; and
3. 30% of the total number of shares held shall vest on 25 August 2020.
The forfeitable shares will be held by and on behalf of each of the executives 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 middle market quotation of a Vedanta share over the five dealing days immediately prior to the payment of the cash element of his bonus on 19 June 2017 and, in the case of the shares awarded to Mr Navin Agarwal, the average middle market quotation of a Vedanta share over the five dealing days immediately before the date of payment of his cash bonus on 5 August 2017.
The Company was informed of the above transactions on 25 August 2017.
For any queries in respect of the above, please contact:
Vedanta Resources plc
Tel: 020 7499 5900
Deepak Kumar, Company Secretary
30 August 2017
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
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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 | 2138007MYEKPEAZQTW83 | ||||
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)
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e) | Aggregated information - Aggregated volume - Price |
Single Transaction | ||||
f) | Date of the transaction | 2017.08.25 | ||||
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: 30 August 2017 | ||||||
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") |
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a) | Name | Navin Agarwal |
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2 | Reasons for the Notification |
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a) | Position / status | Executive Vice Chairman
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b) | Initial notification / amendment | Initial Notification |
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3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a | Name | Vedanta Resources plc ("Vedanta") |
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b | LEI | 2138007MYEKPEAZQTW83 |
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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 |
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a) | Description of the financial instrument | Vedanta Ordinary Shares of US$0.10 each ISIN:GB0033277061 |
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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
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c) | Currency | GBP - British Pound |
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d) | Price(s) and volume(s)
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|
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e) | Aggregated information - Aggregated volume - Price |
Single Transaction |
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f) | Date of the transaction | 2017.08.25 |
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g) | Place of the transaction | London Stock Exchange (XLON) (Main Market) |
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Name of authorised official of issuer responsible for making notification
DEEPAK KUMAR, COMPANY SECRETARY
Date of notification: 30 August 2017 | |||||||
For any queries in respect of the above, please contact:
Vedanta Resources plc
Tel: 020 7499 5900
Deepak Kumar, Company Secretary
Related Shares:
Vedanta Resources