20th Sep 2006 12:40
Drax Group PLC20 September 2006 20 September 2006 Drax Group plc ("DRAX" or the "Company") (Symbol: DRX) Notification of Transactions of Directors/Persons Discharging Managerial Responsibility ("PDMRS") and Connected Persons Executive Share Incentive Plan On 19 September 2006 the following awards under the Drax Executive ShareIncentive Plan (the "ESIP") were made to executive directors and to personsdischarging managerial responsibility ("PDMRs") of the Company: Name Award of ESIP Shares (see note below) Gordon Boyd 32,597Peter Emery 30,024Dorothy Thompson 60,048 Note: Under the Drax ESIP, awards are made as a conditional allocation, where aparticipant will receive free Ordinary Shares in the Company on the vesting ofan award on the third anniversary of the award being made, subject to continuingemployment. The vesting of an award will depend on the Company's TotalShareholder Return as compared to the Total Shareholder Return of a comparatorgroup over a fixed three-year performance period starting on 1 July 2006 andending on 30 June 2009. For the purposes of the calculation, the award was madeat a share price of £8.743, being the average of the closing middle marketquotations of a share as derived from the Daily Official List of the LondonStock Exchange for the five business days immediately preceding the date of theaward. --ENDS-- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Drax