This notification is made in accordance with the Market Abuse Regulation.
Severn Trent Annual Bonus Scheme 2020 Deferred Share Awards
These awards were granted under the terms of the Severn Trent Annual Bonus Scheme, in respect of the year ended
The Ordinary Shares will vest on the third anniversary of grant subject to continued employment. No consideration was paid for the grant of these awards and no payment is due on the release of any shares. The share price used to calculate these awards was based on the average of the mid-market price for an Ordinary Share in the Company over 11, 12 and
As outlined in the Company's Annual Report and Accounts, the 2019/20 annual bonus for both the CEO and CFO will be paid wholly in shares, at their request. 50% of which is deferred for three years under the terms of the Annual Bonus Scheme. Acquisition of shares with the remaining 50% will be separately notified the week commencing
The Remuneration Committee has the discretion to reduce the number of deferred shares subject to award before vesting or claw back shares acquired (or their equivalent value) following vesting, including in circumstances where it is determined that windfall gains have resulted from share price volatility.
The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail.
Contact:
Tel: +44 (0)7889 806578
Email: richard.eadie@severntrent.co.uk
Web: www.severntrent.com
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