11th Jun 2008 17:11
SCOTTISH AND SOUTHERN ENERGY PLC
PERFORMANCE SHARE PLAN AWARDS
The Company wishes to notify the following awards to the Executive directors and persons discharging managerial responsibility ("PDMR"s) in ordinary shares in the Company ("Shares") arising out of the operation of the Scottish and Southern Energy plc Performance Share Plan (the "PSP").
On 10 June 2008, awards were granted under the PSP to the following executive directors and PDMRs, as set out below. The number of Shares stated is the maximum available to each director or PDMR on satisfaction in full of the performance targets applicable to the Award. The number of Shares under each Award has been calculated by reference to £15.45, being the price paid per Share on 10 June 2008.
|
Executive Director |
Shares granted under award |
|
Ian Marchant |
77,670 |
|
Colin Hood |
58,253 |
|
Alistair Phillips-Davies |
44,661 |
|
Gregor Alexander |
44,661 |
|
PDMR |
|
|
Vincent Donnelly |
9,062 |
|
Paul Isgar |
12,298 |
|
Graham Juggins |
9,709 |
|
Anthony Keeling |
12,622 |
|
Ian Manson |
9,062 |
|
Mark Mathieson |
12,298 |
|
Robert McDonald |
10,486 |
|
Jim McPhillimy |
12,945 |
|
Adrian Pike |
12,622 |
|
Brian Smith |
8,415 |
|
James Smith |
10,486 |
|
Paul Smith |
12,945 |
|
Alan Young |
10,486 |
Vesting of these Awards will be conditional on the satisfaction of financial performance targets and other criteria. The earliest date on which the participants could normally become entitled to the Shares comprised in the Award is the date of announcement of results for the financial year ending 31 March 2011, or as otherwise determined by the rules of the PSP.
The Plan is in line with the company's remuneration policy, as set out in its Annual Report 2008, which was published on the company's website on Thursday 5 June 2008.
DEFERRED BONUS PLAN
The company announces the purchase on 10 June 2008, by the Trustees of the Scottish and Southern Energy Deferred Bonus Plan, of ordinary shares in the Company at a price of £15.45 per share and the share awards on 10 June 2008 to Executive Directors and Persons Discharging Managerial Responsibility (PDMR) under the Plan as follows:
|
Ian Marchant |
9,709 |
|
Colin Hood |
7,087 |
|
Alistair Phillips-Davies |
5,463 |
|
Gregor Alexander |
5,493 |
|
Vincent Donnelly |
1,236 |
|
Paul Isgar |
1,735 |
|
Graham Juggins |
1,347 |
|
Anthony Keeling |
1,781 |
|
Ian Manson |
1,257 |
|
Mark Mathieson |
1,677 |
|
Robert McDonald |
1,479 |
|
James McPhillimy |
1,796 |
|
Adrian Pike |
1,751 |
|
Brian Smith |
1,187 |
|
James Smith |
1,455 |
|
Paul Smith |
1,796 |
|
Alan Young |
1,455 |
The Plan is designed to contribute to increasing shareholder return and motivation of senior management over the longer-term. Awards to participants in the Plan are based on the performance by individuals and by the Company and will vest after 3 years.
Related Shares:
SSE