Share Name Share Symbol Market Type Share ISIN Share Description
Severn Trent LSE:SVT London Ordinary Share GB00B1FH8J72 ORD 97 17/19P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +130.00p +7.19% 1,938.00p 1,824.00p 1,825.50p 1,836.00p 1,786.00p 1,805.50p 558,023,084 11:32:45
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Gas Water & Utilities 1,694.1 302.4 107.8 18.0 4,568.01

Severn Trent PLC Section 430(2B) Companies Act 2006 Statement

22/12/2017 11:40am

UK Regulatory (RNS & others)


Severn Trent (LSE:SVT)
Historical Stock Chart

1 Year : From Nov 2017 to Nov 2018

Click Here for more Severn Trent Charts.

TIDMSVT

RNS Number : 2441A

Severn Trent PLC

22 December 2017

22 December 2017

Section 430(2B) Companies Act 2006 Statement

The following information is provided in accordance with section 430(2B) of the Companies Act 2006.

On 4 September 2017, the Company announced that Emma FitzGerald was stepping down as Managing Director of Wholesale Operations and from the Board of Severn Trent plc.

Ms FitzGerald has formally resigned as a Director of Severn Trent plc with effect from 31 December 2017. Her employment will end on 31 July 2018 unless this date is brought forward by mutual agreement. Remuneration arrangements in respect of her departure have been determined by the Group Remuneration Committee in line with the Directors' Remuneration Policy approved by shareholders at the AGM in July 2015. Further details will be included in Severn Trent's 2018 Annual Report, to be published in May 2018.

Salary, pension and benefits

Ms FitzGerald's salary, pension and benefits will be paid in monthly instalments until the end of her employment.

Should Ms FitzGerald request cessation of her employment earlier than 31 July 2018 she would waive entitlement to payment in lieu of any unexpired notice and she would waive her entitlement to the 2017/18 annual bonus in its entirety.

Incentives

Ms FitzGerald's unvested awards under the Severn Trent deferred annual bonus plan ("ABP") will be released on the cessation of her employment, and remain subject to malus and clawback provisions.

Ms FitzGerald's 2015 award granted under the Severn Trent Long-Term Incentive Plan ("LTIP") will vest subject to the satisfaction of the original performance conditions.

LTIP awards which will be outstanding on the date when Ms FitzGerald's employment is expected to end will be treated as follows:

-- Ms FitzGerald's 2016 and 2017 awards granted under the LTIP will vest in line with the original vesting dates, subject to the satisfaction of the original performance conditions and will be pro-rated up to the end of her employment.

-- These awards will continue to be subject to malus and clawback provisions.

Ms FitzGerald will receive an annual bonus for 2017/18. This bonus will be determined based on performance achieved, assessed when the 2017/18 results are known.

Ms FitzGerald will not receive a bonus for 2018/19 and she will not be made a LTIP award in 2018 or any subsequent year.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCTTBBTMBJTBRR

(END) Dow Jones Newswires

December 22, 2017 06:40 ET (11:40 GMT)

1 Year Severn Trent Chart

1 Year Severn Trent Chart

1 Month Severn Trent Chart

1 Month Severn Trent Chart
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:31 V:gb D:20181118 19:19:36