Edition:
United States

Drax Group PLC (DRX.L)

DRX.L on London Stock Exchange

280.10GBp
17 Nov 2017
Change (% chg)

-- (--)
Prev Close
280.10
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
1,043,961
52-wk High
393.20
52-wk Low
269.87

Latest Key Developments (Source: Significant Developments)

Drax Group appoints Den Jones as interim CFO
Friday, 27 Oct 2017 02:00am EDT 

Oct 27 (Reuters) - Drax Group Plc ::DRAX GROUP PLC - APPOINTMENT OF INTERIM CHIEF FINANCIAL OFFICER.‍DEN JONES HAS BEEN APPOINTED AS INTERIM CFO OF GROUP FROM 1 NOVEMBER 2017 AND WILL WORK WITH WILL GARDINER TO ENSURE A SMOOTH TRANSITION​.  Full Article

Drax Group updates on ‍sale of Billington Bioenergy​
Wednesday, 25 Oct 2017 02:09am EDT 

Oct 25 (Reuters) - Drax Group Plc :‍SALE OF BILLINGTON BIOENERGY​.‍SALE TO AGGREGATED MICRO POWER HOLDINGS 2 AND DEAL VALUE IS 2 MILLION STG, COMPRISED OF 1.6 MILLION STG OF SHARES IN AMPH AND 0.4 MILLION STG CASH​.‍SALE OF BBE IS ALIGNED WITH DRAX'S RETAIL STRATEGY, FOCUSED ON I&C 3 AND SME 4 ENERGY MARKETS​.‍THROUGH ITS SHAREHOLDING IN AMPH, DRAX WILL RETAIN AN INTEREST IN UK HEATING MARKET.  Full Article

Drax comments on National Grid's winter outlook report
Thursday, 12 Oct 2017 07:04am EDT 

Oct 12 (Reuters) - DRAX GROUP PLC ::DRAX POWER CEO ANDY KOSS RESPONDS TO NATIONAL GRID'S WINTER OUTLOOK REPORT 2017/18.‍"HAS UPGRADED HALF OF POWER STATION IN NORTH YORKSHIRE TO RUN ON BIOMASS INSTEAD OF COAL - 70 PCT OF OUR OUTPUT IS NOW RENEWABLE" - DRAX POWER CEO​."‍EXPLORING LOW COST OPTIONS FOR UPGRADING A FOURTH GENERATING UNIT FROM COAL TO BIOMASS" - DRAX POWER CEO​.  Full Article

Drax Group says Will Gardiner to be appointed as group CEO
Thursday, 21 Sep 2017 02:00am EDT 

Sept 21 (Reuters) - Drax Group Plc :Will gardiner, currently group chief financial officer, is to be appointed as group chief executive with effect from 1 january 2018.Appointment results from dorothy thompson's decision to step down after 12 successful years as group chief executive.Dorothy will leave group at end of 2017.  Full Article

Drax Group starts planning process for battery storage and gas options
Wednesday, 13 Sep 2017 08:42am EDT 

Sept 13 (Reuters) - DRAX GROUP PLC ::STARTS PLANNING PROCESS FOR BATTERY STORAGE AND GAS OPTIONS.PLANNING INSPECTORATE OF ITS INTENTION TO CONSULT ON LONG-TERM OPTIONS TO REPOWER UP TO TWO COAL UNITS TO GAS, AND BUILD BATTERY STORAGE AT DRAX POWER STATION.EXPECTS TO BEGIN CONSULTING ON THESE OPTIONS WITH LOCAL COMMUNITIES AND NATIONAL STAKEHOLDERS OVER COMING WEEKS.  Full Article

Drax appoints David Nussbaum as a non-executive director
Wednesday, 19 Jul 2017 02:00am EDT 

July 19 (Reuters) - Drax Group Plc :David Nussbaum has been appointed as a non-executive director with effect from 1 August 2017.  Full Article

Drax Group posts H1 loss before tax of 83 mln pounds
Wednesday, 19 Jul 2017 02:00am EDT 

July 19 (Reuters) - Drax Group Plc ::H1 EBITDA 121 million stg versus 70 million stg year ago.Interim dividend 4.9 penceper share.H1 underlying earnings of 9 million stg versus 17 million stg in H1 2016.H1 loss before tax of 83 million stg versus profit of 184 million stg in H1 2016.H1 total dividend of 4.9 pence per share.Says 2017 expectations unchanged.Continue to expect FY ongoing core capital investment of 50 million stg per year.Says "continue to utilise medium-term foreign exchange hedges to help protect co from volatility in exchange rates leading to volatility in fuel costs".Says retail focus remains on B2B market.Says expecting government to announce plans for future carbon price support this autumn; maintaining dialogue with treasury, other government depts.For full year 2017, subject to continued operational performance, we expect ebitda to be in line with current market consensus.  Full Article

Drax expects to recommend dividend of 50 mln STG for 2017
Thursday, 15 Jun 2017 02:00am EDT 

June 15 (Reuters) - Drax Group Plc ::Outlining plan for 2025 EBITDA in excess of £425 million - more than third of which is expected to come from retail, biomass supply operations.Drax expects to pay a growing dividend consistent with maintaining its credit rating and investing in its business.Expects to recommend a dividend of 50 mln pounds with regards to 2017 financial year."Since publishing FY results on 16 Feb 2017, trading conditions in markets have remained unchanged; operational performance has been good".Expectations for full year EBITDA remain unchanged.  Full Article

Drax faces some investor opposition to annual remuneration report
Thursday, 13 Apr 2017 08:32am EDT 

Drax Group Plc : 77.03 percent of votes cast at AGM in favour of approval of directors' remuneration policy, 22.97 percent of votes cast against . 66.35 percent votes cast in favor of annual remuneration report at AGM, 33.65 percent against . Board of directors notes significant number of votes against 2016 directors' remuneration report and remuneration policy resolutions . Discussions have already taken place with a number of institutional shareholders who did not support remuneration report or remuneration policy resolutions .Feedback received will be discussed by remuneration committee in forthcoming meetings and further engagement is expected with shareholders.  Full Article

Kier Group says Phil White to retire as chairman
Thursday, 23 Mar 2017 03:41am EDT 

Kier Group Plc : Appointment of chairman designate . Phil White to retire as chairman and step down from board with effect from conclusion of the AGM on Nov 17 . White will be succeeded by Philip Cox CBE . Cox will retire as chairman of GPG by 10 September 2017 .Cox will join board as a non-executive director and chairman designate on 1 July 2017 and will assume chairman role immediately following AGM.  Full Article

Drax appoints Den Jones as interim CFO

Oct 27 Electric Utility company Drax Group on Friday appointed Den Jones as interim chief financial officer from Nov. 1.