Vedanta Resources PLC Director/PDMR Shareholding (6037J)
September 12 2016 - 11:15AM
UK Regulatory
TIDMVED
RNS Number : 6037J
Vedanta Resources PLC
12 September 2016
VEDANTA RESOURCES PLC
Notification of Transactions of Directors/Persons Discharging
Managerial Responsibility and Connected Persons- Grant of
Forfeitable Shares Awards
This notification is made in accordance with Market Abuse
Regulation 19 (3)
On 12 September 2016, Mr Anil Agarwal and Mr Navin Agarwal were
granted forfeitable share awards over ordinary shares of US$0.10
each in Vedanta Resources plc (the "Company") under the Vedanta
Resources Deferred Share Bonus Plan 2015, as follows
Name of PDMR Number of Shares granted under Forfeitable Shares Awards
--------------- ---------------------------------------------------------
Anil Agarwal 119,084
--------------- ---------------------------------------------------------
Navin Agarwal 57,697
--------------- ---------------------------------------------------------
No consideration has been paid for the grant of the awards of
forfeitable shares.
The awards were granted in respect of annual bonuses earned for
the Financial Year ended 31 March 2016.
Subject to the executive continuing to be a director or employee
in the Vedanta Resources Plc group of companies, the shares held
under the forfeitable shares awards shall normally cease to be
subject to restrictions and at risk of forfeiture ("vest") on the
dates and over the proportions of shares set out below.
(a) Awards to Mr Anil Agarwal shall normally vest over the
proportions of shares and on the dates set out below:
1. 40% of the total number of shares held shall vest on 19 May 2017
2. 30% of the total number of shares held shall vest on 19 May 2018; and
3. 30% of the total number of shares held shall vest on 19 May 2019; and
(b) Awards to Mr Navin Agarwal shall normally vest over the
proportions of shares and on the dates set out below:
1. 40% of the total number of shares held shall vest on 1 September 2017;
2. 30% of the total number of shares held shall vest on 1 September 2018 ; and
3. 30% of the total number of shares held shall vest on 1 September 2019.
The forfeitable shares will be held by and on behalf of the
executive by Sanne Fiduciary Services Limited, acting as the
executive's nominee (the "Nominee"). On vesting, the Nominee will
transfer legal ownership of the shares to the executive.
The number of shares over which awards were granted was
calculated by reference to, in the case of Mr Anil Agarwal, the
average closing price of a share over the five dealing days
immediately prior to the payment of his cash bonus on 19 May 2016
and, in the case of the shares awarded to Mr Navin Agarwal, the
average closing price of a share over the five dealing days
immediately before the date of payment of his cash bonus on 1
September 2016
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 Anil Agarwal
--- ------------------------------ -----------------------------------
2 Reasons for the Notification
--- -------------------------------------------------------------------
a) Position Executive Chairman
/ status
--- ------------------------------ -----------------------------------
b) Initial notification Initial Notification
/ amendment
--- ------------------------------ -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- -------------------------------------------------------------------
a Name Vedanta Resources plc ("Vedanta")
--- ------------------------------ -----------------------------------
b LEI N/A
--- ------------------------------ -----------------------------------
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 Vedanta Ordinary Shares of US$0.10
of the financial each
instrument ISIN:GB0033277061
--- ------------------------------ -----------------------------------
b) Nature of Grant of Forfeitable share awards
the transaction over Ordinary Shares of US$0.10
under the Vedanta Resources
Deferred Share Bonus Plan 2015
--- ------------------------------ -----------------------------------
c) Currency GBP - British Pound
--- ------------------------------ -----------------------------------
d) Price(s) Price(s) Volume(s)
and volume(s) --------- ----------
0.00 119,084
--------- ----------
--- ------------------------------ -----------------------------------
e) Aggregated
information
* Aggregated volume Single Transaction
* Price
--- ------------------------------ -----------------------------------
f) Date of the 2016.09.12
transaction
--- ------------------------------ -----------------------------------
g) Place of London Stock Exchange (XLON)
the transaction (Main Market)
--- ------------------------------ -----------------------------------
Name of authorised official of issuer responsible
for making notification
DEEPAK KUMAR, COMPANY SECRETARY
Date of notification: 12 September 2016
------------------------------------------------------------------------
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 Navin Agarwal
--- ------------------------------ -----------------------------------
2 Reasons for the Notification
--- -------------------------------------------------------------------
a) Position Vice Chairman
/ status
--- ------------------------------ -----------------------------------
b) Initial notification Initial Notification
/ amendment
--- ------------------------------ -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- -------------------------------------------------------------------
a Name Vedanta Resources plc ("Vedanta")
--- ------------------------------ -----------------------------------
b LEI N/A
--- ------------------------------ -----------------------------------
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 Vedanta Ordinary Shares of US$0.10
of the financial each
instrument ISIN:GB0033277061
--- ------------------------------ -----------------------------------
b) Nature of Grant of Forfeitable share awards
the transaction over Ordinary Shares of US$0.10
under the Vedanta Resources
Deferred Share Bonus Plan 2015
--- ------------------------------ -----------------------------------
c) Currency GBP - British Pound
--- ------------------------------ -----------------------------------
d) Price(s) Price(s) Volume(s)
and volume(s) --------- ----------
0.00 57,697
--------- ----------
--- ------------------------------ -----------------------------------
e) Aggregated
information
* Aggregated volume Single Transaction
* Price
--- ------------------------------ -----------------------------------
f) Date of the 2016.09.12
transaction
--- ------------------------------ -----------------------------------
g) Place of London Stock Exchange (XLON)
the transaction (Main Market)
--- ------------------------------ -----------------------------------
Name of authorised official of issuer responsible
for making notification
DEEPAK KUMAR, COMPANY SECRETARY
Date of notification: 12 September 2016
--------------------------------------------------------------------------
For any queries in respect of the above, please contact:
Vedanta Resources plc
Tel: 020 7459 5900
Deepak Kumar, Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END
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