27th Jul 2007 15:14
Scottish & Southern Energy PLC27 July 2007 SCOTTISH AND SOUTHERN ENERGY PLC PERFORMANCE SHARE PLAN AWARDS Following notifications made in accordance with DR 3.1.4 (R)(1)(a) and section324 of the Companies Act 1985, Scottish and Southern Energy plc (the "Company")wishes to notify the following changes in the interests of executive directorsand persons discharging managerial responsibility ("PDMR"s) in ordinary sharesin the Company ("Shares") arising out of the operation of the Scottish andSouthern Energy plc Performance Share Plan (the "PSP"). On 26 July 2007, awards over Shares ("Awards") were granted under the PSP to thefollowing executive directors and PDMRs, as set out below. The number of Sharesstated is the maximum available to each director or PDMR on satisfaction in fullof the performance targets applicable to the Award. The number of Shares undereach Award has been calculated by reference to £14.34, being the mid-marketprice for a Share on 26 July 2007. Executive Director Shares granted under award Colin Hood 56,485Ian Marchant 75,313Alistair Phillips-Davies 42,364Gregor Alexander 42,364 PDMR Vincent Donnelly 10,002Paul Isgar 13,729Graham Juggins 9,414Anthony Keeling 13,729Ian Manson 10,198Mark Mathieson 13,729Robert McDonald 11,767Jim McPhillimy 14,121Adrian Pike 13,729Brian Smith 9,414James Smith 11,767Paul Smith 14,121Alan Young 11,767 Vesting of these Awards will be conditional on the satisfaction of financialperformance targets and other criteria. The earliest date on which theparticipants could normally become entitled to the Shares comprised in the Awardis the date of announcement of results for the financial year ending 31 March2010, or as otherwise determined by the rules of the PSP. DEFERRED BONUS SCHEME MATURITY On 27 July 2007 the Company was notified by the Trustees of the Scottish andSouthern Energy Deferred Bonus Plan ("the Plan") of the following changes indirectors'/PDMRs' interests in the Company's ordinary shares ("the Shares")arising out of the operation of the Plan. Awards of Shares under the Plan can be unconditionally released to participantsfollowing the third anniversary of grant ("the Maturity Date"). A) The following directors/PDMRs elected to call for the release of the Sharesset out below following the Maturity Date. On 26 July 2007, sufficient Shareswere sold at £14.30 per share in order to discharge income tax and NationalInsurance contribution liabilities arising on their release from the DeferredBonus Plan Trust ("the Trust"). Executive director Shares released Shares sold at Shares from the Trust £14.30 to remaining satisfy the tax liability Ian Marchant 39,937 16,451 23,486Gregor Alexander 18,350 7,573 10,777 PDMR Vincent Donnelly 4,151 1,724 2,427Paul Isgar 4,126 1,713 2,413Tony Keeling 4,385 1,820 2,565Ian Manson 4,126 1,713 2,413Mark Mathieson 989 414 575Robert McDonald 1,721 719 1,002Adrian Pike 4,385 1,820 2,565Brian Smith 3,533 1,468 2,065James Smith 1,782 744 1,038Paul Smith 4,207 1,747 2,460Alan Young 3,666 1,523 2,143 B) Also, Graham Juggins, PDMR, elected to call for the release of the Shares setout below following the Maturity Date. On 27 July 2007, sufficient Shares weresold at £14.18 per share in order to discharge income tax and National Insurancecontribution liabilities arising on their release from the Deferred Bonus PlanTrust ("the Trust"). PDMR Shares released Shares sold at Shares from the Trust £14.18 to remaining satisfy the tax liabilityGraham Juggins 3,676 1,527 2,149 The Trustees have transferred the Shares to satisfy these entitlements out ofthe Trust. The executive directors shareholdings are as follows: Executive director Total holding Total holding following this as a percentage notification of shares in issue Ian Marchant 118,312 0.014%Gregor Alexander 32,406 0.004% This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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