1st Jul 2005 11:47
Scottish & Southern Energy PLC01 July 2005 Headline: Director Shareholding The company announces the purchase on 30 June 2005, by the Trustees of theScottish and Southern Energy Deferred Bonus Plan, of 181,780 ordinary shares of50p each in the Company at an average price of £10.094 per share. The Companyalso announces the performance-related awards to Executive Directors under thePlan. On 30 June 2005, the following share awards to the Executive Directors weremade: Ian Marchant 35,107Colin Hood 26,079Alistair Phillips-Davies 17,386Gregor Alexander 17,386 The Plan is designed to contribute to increasing shareholder return andmotivation of senior management over the longer-term. Awards to participants inthe Plan are dependent on the performance by individuals and by the Company.Participants are granted awards equivalent to their actual short-term bonus. Asstated in the Annual Report and Accounts 2005, the value of the award isadjusted by reference to three factors: the company's relative performance interms of Total Shareholder Return over a three-year period; safety (which isexternally verified and compared to other energy companies) and relativeperformance in terms of customer complaints as recorded by the independentregulatory body, energywatch. Each Executive Director will only receive from the Trust the number of shares towhich they are entitled under their award. For Companies Act purposes, theExecutive Directors are technically regarded as having an interest in all thoseshares held by the Trust. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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