3rd Mar 2017 15:43
VEDANTA RESOURCES PLC
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons
This notification is made in accordance with Article 19(3) of the Market Abuse Regulation No 596/2014.
Vedanta Resources plc (the "Company") advises that on 2 March 2017 the individuals named below, each a person discharging managerial responsibility ("PDMR"), were granted Cash Conditional Awards ("Awards") under the Vedanta Group plc Performance Share plan ("the PSP") over 89,030 notional ordinary shares in the Company (also known as "units").
NAME | No. of units over which Awards granted under the PSP |
Steven Din | 24,960 |
P Ramnath | 22,290 |
Mansoor Siddiqi | 22,290 |
Deshnee Naidoo | 19,490 |
The average of the middle market quotations during the period of 5 dealing days ending with the dealing day before the grant date, was £8.92.
The performance conditions applying to the Awards made under the PSP is Total Shareholder Return over a three year period from 11 November 2016 to 10 November 2019 and Awards are normally also subject to continued employment within the Company's group. The number of units that will vest under the Award is conditional upon the satisfaction of the above. To the extent that the Award vests, the Award holder will be entitled to receive a cash payment of an amount equal to the market value of an ordinary share on the date that their Award vests multiplied by the number of units under the Award.
The Awards granted under the PSP will normally vest on the third anniversary of the date of grant subject to meeting the above performance conditions. Post vesting clawback applies to these Awards.
The Awards were approved by the Company's Remuneration Committee and the Company was notified of the grant of awards on 2 March 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 | Steven Din | ||||
2 | Reasons for the Notification | |||||
a) | Position / status | Chief Executive Officer KCM | ||||
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 notional Ordinary Shares with a nominal value of US$0.10 each ISIN:GB0033277061 | ||||
b) | Nature of the transaction | Grant of cash conditional awards over 24,960 notional Vedanta Ordinary Shares under the Vedanta Group plc Performance Share plan | ||||
c) | Currency | GBP - British Pound | ||||
d) | Price(s) and volume(s)
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e) | Aggregated information - Aggregated volume - Price |
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f) | Date of the transaction | 2017-03-02 | ||||
g) | Place of the transaction | This transaction took place outside of the trading venue. | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | P Ramnath | ||||
2 | Reasons for the Notification | |||||
a) | Position / status | Chief Executive Officer -Vedanta Limited- Copper Business | ||||
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 notional Ordinary Shares with a nominal value of US$0.10 each ISIN:GB0033277061 | ||||
b) | Nature of the transaction | Grant of cash conditional awards over 22,290 notional Vedanta Ordinary Shares under the Vedanta Group plc Performance Share plan | ||||
c) | Currency | GBP - British Pound , | ||||
d) | Price(s) and volume(s)
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e) | Aggregated information - Aggregated volume - Price |
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f) | Date of the transaction | 2017-03-02 | ||||
g) | Place of the transaction | This transaction took place outside of the trading venue. | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Mansoor Siddiqi | ||||
2 | Reasons for the Notification | |||||
a) | Position / status | Group Director Projects | ||||
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 notional Ordinary Shares with a nominal value of US$0.10 each ISIN:GB0033277061 | ||||
b) | Nature of the transaction | Grant of cash conditional awards over 22,290 notional Vedanta Ordinary Shares under the Vedanta Group plc Performance Share plan | ||||
c) | Currency | GBP - British Pound | ||||
d) | Price(s) and volume(s)
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e) | Aggregated information - Aggregated volume - Price |
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f) | Date of the transaction | 2017-03-02 | ||||
g) | Place of the transaction | This transaction took place outside of the trading venue. | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Deshnee Naidoo | ||||
2 | Reasons for the Notification | |||||
a) | Position / status | Chief Executive Officer Zinc International | ||||
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 notional Ordinary Shares with a nominal value of US$0.10 each ISIN:GB0033277061 | ||||
b) | Nature of the transaction | Grant of cash conditional awards over 19,490 notional Vedanta Ordinary Shares under the Vedanta Group plc Performance Share plan | ||||
c) | Currency | GBP - British Pound | ||||
d) | Price(s) and volume(s)
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e) | Aggregated information - Aggregated volume - Price |
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f) | Date of the transaction | 2017-03-02 | ||||
g) | Place of the transaction | This transaction took place outside of the trading venue. | ||||
Related Shares:
Vedanta Resources