3rd Jun 2010 14:23
SCOTTISH AND SOUTHERN ENERGY PLC
TRANSACTIONS BY DIRECTORS AND PDMRS
DISCLOSURE PURSUANT TO DISCLOSURE AND TRANSPARENCY RULE 3.1.4R(1)(a)
(i) PERFORMANCE SHARE PLAN ("PSP")
VESTING OF 2007 AWARDS
On 26 July 2007 the Company granted awards of shares under its PSP. The vesting of these awards was subject to the achievement of relevant performance conditions in respect of Total Shareholder Return and Earnings Per Share over the three year performance period ended 31 March 2010. These awards have vested in respect of 16.2% of the total award. The Company announces the following transactions:
|
Participant |
No of Shares Awarded 26/07/07 |
Accruing Dividend Shares |
Total Shares |
Total Shares Due to Vest at 16.2% |
No of Shares Sold at £10.764 on 02/06/10 |
Net Shares Acquired |
Revised Beneficial Interest at 02/06/10 |
||
|
EXECUTIVE DIRECTOR |
|
|
|
|
|
||||
|
Ian Marchant |
75,313 |
11,733 |
87,046 |
14,101 |
7,207 |
6,894 |
225,430 |
||
|
Colin Hood |
56,485 |
8,799 |
65,284 |
10,576 |
5,405 |
5,171 |
134,583 |
||
|
Gregor Alexander |
42,364 |
6,598 |
48,962 |
7,931 |
4,054 |
3,877 |
89,843 |
||
|
Alistair Phillips-Davies |
42,364 |
6,598 |
48,962 |
7,931 |
4,054 |
3,877 |
98,543 |
||
|
PDMRs |
|
|
|
|
|
||||
|
Mark Mathieson |
13,729 |
2,136 |
15,865 |
2,570 |
1,314 |
1,256 |
N/A |
||
|
Adrian Pike |
13,729 |
2,136 |
15,865 |
2,570 |
1,314 |
1,256 |
N/A |
||
|
Paul Smith |
14,121 |
2,198 |
16,319 |
2,643 |
1,351 |
1,292 |
N/A |
||
(ii) PERFORMANCE SHARE PLAN
GRANT OF AWARDS 2 JUNE 2010
VESTING NO EARLIER THAN PRELIM ANNOUNCEMENT 2013
On 2 June 2010 the Company granted the following awards under the PSP. 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 the mid market closing price on 1 June 2010 of £10.79 per share.
Vesting of these awards will be conditional on the satisfaction of financial performance conditions over the three year performance period 1 April 2010 to 31 March 2013 and subject to continued employment. The earliest date on which participants will normally become entitled to the shares comprised in the award is the date of announcement of results for the financial year ending 31 March 2013, or as otherwise determined by the rules of the PSP.
|
EXECUTIVE DIRECTOR |
NUMBER OF SHARES GRANTED UNDER AWARD |
|
Ian Marchant |
116,774 |
|
Colin Hood |
89,770 |
|
Gregor Alexander |
68,824 |
|
Alistair Phillips-Davies |
68,824 |
|
|
|
|
PDMR |
NUMBER OF SHARES GRANTED UNDER AWARD |
|
Paul Dowling |
20,757 |
|
Mark Mathieson |
19,545 |
|
Adrian Pike |
19,545 |
|
Paul Smith |
20,046 |
(iii) DEFERRED BONUS SCHEME (DBS)
GRANT OF AWARDS
VESTING NO EARLIER THAN 2 JUNE 2013
On 2 June 2010 the Company granted the following awards under the DBS. The number of shares under each award has been calculated by reference to the mid market closing price on 1 June 2010 of £10.79 per share.
|
EXECUTIVE DIRECTOR |
NUMBER OF SHARES GRANTED UNDER AWARD |
|
Ian Marchant |
11,482 |
|
Colin Hood |
8,612 |
|
Gregor Alexander |
6,602 |
|
Alistair Phillips-Davies |
6,602 |
|
|
|
|
PDMR |
NUMBER OF SHARES GRANTED UNDER AWARD |
|
Paul Dowling |
3,113 |
|
Mark Mathieson |
2,773 |
|
Adrian Pike |
2,846 |
|
Paul Smith |
2,919 |
Awards granted under the DBS represent a deferral of a proportion of the cash bonus earned for the financial year ended 31 March 2010 which is converted into shares. These shares will vest after a period of three years from date of grant subject to continued employment.
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