REG - Severn Trent PLC - Director/PDMR Shareholding
RNS Number : 8078GSevern Trent PLC28 July 2021LEI: 213800RPBXRETY4A4C59
Severn Trent Plc (the "Company") - Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and their Closely Associated Persons
This notification is made in accordance with the Market Abuse Regulation.
Vesting of Shares under the Long Term Incentive Plan 2014 ("LTIP")
On 27 July 2021, the following Directors and PDMRs received a transfer of Shares from the Company (which it held as treasury shares) for nil consideration on the vesting of awards made under the LTIP in 2018, and subsequently sold Shares in order to cover tax liabilities:
Director / PDMR (date of award)
Number of conditional shares awarded
Number of shares released to PDMR*
Number of shares sold to cover tax liability
Price at which shares sold
Net number of shares acquired
O Garfield
Director
(24.07.18)
72,880
82,249
38,407
2738.26p
43,842
J Bowling
Director
(24.07.18)
32,941
37,174
17,359
2738.26p
19,815
S Anderson
PDMR
(24.07.18)
2,574
2,902
1,356
2738.26p
1,546
J Jesic
PDMR
(24.07.18)
7,387
8,335
3,893
2738.26p
4,442
B Kennedy
PDMR
(24.07.18)
11,802
13,317
6,219
2738.26p
7,098
H Miles
PDMR
(24.07.18)
16,953
19,131
8,934
2738.26p
10,197
N Morrison
PDMR
(24.07.18)
8,679
9,792
4,573
2738.26p
5,219
A P Smith
PDMR
(24.07.18)
12,663
14,289
6,673
2738.26p
7,616
*The number of shares released includes additional shares calculated to reflect dividends declared during the period from grant until vesting, in accordance with the LTIP rules.
The 2018 LTIP award made under the 2018 Remuneration Policy introduced a stretch award comparative element to Return on Regulatory Equity ('RoRE'), measured by Upper Quartile ('UQ') comparison against other Water and Sewerage Companies ('WaSCs'). As all WaSCs have now published their Annual Performance Reports, it has been determined that Severn Trent's three-year average RoRE during the performance period was UQ, meaning awards vested in full at 100%.
Notifications set out below, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail.
For further information please contact:
Stuart Howell, Head of Investor Relations
+44 (0)770 371 8361
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Olivia Garfield
2
Reason for the notification
a)
Position/status
Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Severn Trent Plc
b)
LEI
213800RPBXRETY4A4C59
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, type of instrument
Identification code
Ordinary Shares of 97 17/19 pence each in Severn Trent Plc
Identification code for Severn Trent Plc shares: GB00B1FH8J72
b)
Nature of the transaction
Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2018 and sale of shares to cover tax and national insurance liabilities.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Acquisition of shares on vesting of LTIP
Sale of shares to cover tax and NI liabilities
Nil
£27.3826
82,249
38,407
d)
Aggregated information
- Aggregated volume
- Price
Acquisition: Volume 82,249 / Price GBP Nil
Tax/NI Sale: Volume 38,407 / Price GBP £27.3826
e)
Date of the transaction
2021-07-27
f)
Place of the transaction
London Stock Exchange, Main Market (XLON)
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
James Bowling
2
Reason for the notification
a)
Position/status
Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Severn Trent Plc
b)
LEI
213800RPBXRETY4A4C59
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, type of instrument
Identification code
Ordinary Shares of 97 17/19 pence each in Severn Trent Plc
Identification code for Severn Trent Plc shares: GB00B1FH8J72
b)
Nature of the transaction
Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2018 and sale of shares to cover tax and national insurance liabilities.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Acquisition of shares on vesting of LTIP
Sale of shares to cover tax and NI liabilities
Nil
£27.3826
37,174
17,359
d)
Aggregated information
- Aggregated volume
- Price
Acquisition: Volume 37,174 / Price GBP Nil
Tax/NI Sale: Volume 17,359 / Price GBP £27.3826
e)
Date of the transaction
2021-07-27
f)
Place of the transaction
London Stock Exchange, Main Market (XLON)
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Shane Anderson
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Severn Trent Plc
b)
LEI
213800RPBXRETY4A4C59
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, type of instrument
Identification code
Ordinary Shares of 97 17/19 pence each in Severn Trent Plc
Identification code for Severn Trent Plc shares: GB00B1FH8J72
b)
Nature of the transaction
Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2018 and sale of shares to cover tax and national insurance liabilities.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Acquisition of shares on vesting of LTIP
Sale of shares to cover tax and NI liabilities
Nil
£27.3826
2,902
1,356
d)
Aggregated information
- Aggregated volume
- Price
Acquisition: Volume 2,902 / Price GBP Nil
Tax/NI Sale: Volume 1,356 / Price GBP £27.3826
e)
Date of the transaction
2021-07-27
f)
Place of the transaction
London Stock Exchange, Main Market (XLON)
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
James Jesic
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Severn Trent Plc
b)
LEI
213800RPBXRETY4A4C59
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, type of instrument
Identification code
Ordinary Shares of 97 17/19 pence each in Severn Trent Plc
Identification code for Severn Trent Plc shares: GB00B1FH8J72
b)
Nature of the transaction
Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2018 and sale of shares to cover tax and national insurance liabilities.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Acquisition of shares on vesting of LTIP
Sale of shares to cover tax and NI liabilities
Nil
£27.3826
8,335
3,893
d)
Aggregated information
- Aggregated volume
- Price
Acquisition: Volume 8,335 / Price GBP Nil
Tax/NI Sale: Volume 3,893 / Price GBP £27.3826
e)
Date of the transaction
2021-07-27
f)
Place of the transaction
London Stock Exchange, Main Market (XLON)
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Bronagh Kennedy
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Severn Trent Plc
b)
LEI
213800RPBXRETY4A4C59
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, type of instrument
Identification code
Ordinary Shares of 97 17/19 pence each in Severn Trent Plc
Identification code for Severn Trent Plc shares: GB00B1FH8J72
b)
Nature of the transaction
Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2018 and sale of shares to cover tax and national insurance liabilities.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Acquisition of shares on vesting of LTIP
Sale of shares to cover tax and NI liabilities
Nil
£27.3826
13,317
6,219
d)
Aggregated information
- Aggregated volume
- Price
Acquisition: Volume 13,317 / Price GBP Nil
Tax/NI Sale: Volume 6,219 / Price GBP £27.3826
e)
Date of the transaction
2021-07-27
f)
Place of the transaction
London Stock Exchange, Main Market (XLON)
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Helen Miles
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Severn Trent Plc
b)
LEI
213800RPBXRETY4A4C59
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, type of instrument
Identification code
Ordinary Shares of 97 17/19 pence each in Severn Trent Plc
Identification code for Severn Trent Plc shares: GB00B1FH8J72
b)
Nature of the transaction
Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2018 and sale of shares to cover tax and national insurance liabilities.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Acquisition of shares on vesting of LTIP
Sale of shares to cover tax and NI liabilities
Nil
£27.3826
19,131
8,934
d)
Aggregated information
- Aggregated volume
- Price
Acquisition: Volume 19,131 / Price GBP Nil
Tax/NI Sale: Volume 8,934 / Price GBP £27.3826
e)
Date of the transaction
2021-07-27
f)
Place of the transaction
London Stock Exchange, Main Market (XLON)
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Neil Morrison
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Severn Trent Plc
b)
LEI
213800RPBXRETY4A4C59
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, type of instrument
Identification code
Ordinary Shares of 97 17/19 pence each in Severn Trent Plc
Identification code for Severn Trent Plc shares: GB00B1FH8J72
b)
Nature of the transaction
Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2018 and sale of shares to cover tax and national insurance liabilities.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Acquisition of shares on vesting of LTIP
Sale of shares to cover tax and NI liabilities
Nil
£27.3826
9,792
4,573
d)
Aggregated information
- Aggregated volume
- Price
Acquisition: Volume 9,792 / Price GBP Nil
Tax/NI Sale: Volume 4,573 / Price GBP £27.3826
e)
Date of the transaction
2021-07-27
f)
Place of the transaction
London Stock Exchange, Main Market (XLON)
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Andrew Smith
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Severn Trent Plc
b)
LEI
213800RPBXRETY4A4C59
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, type of instrument
Identification code
Ordinary Shares of 97 17/19 pence each in Severn Trent Plc
Identification code for Severn Trent Plc shares: GB00B1FH8J72
b)
Nature of the transaction
Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2018 and sale of shares to cover tax and national insurance liabilities.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Acquisition of shares on vesting of LTIP
Sale of shares to cover tax and NI liabilities
Nil
£27.3826
14,289
6,673
d)
Aggregated information
- Aggregated volume
- Price
Acquisition: Volume 14,289 / Price GBP Nil
Tax/NI Sale: Volume 6,673 / Price GBP £27.3826
e)
Date of the transaction
2021-07-27
f)
Place of the transaction
London Stock Exchange, Main Market (XLON)
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