Director/PDMR Shareholding & Concert Party Update

Power Probe

27/03/2026 07:00

RNS Number : 3348Y

Power Probe PLC

27 March 2026

 

27 March 2026

Power Probe PLC

Director/PDMR Shareholding

and

Changes to concert party

 

Power Probe ("Power Probe", the "Group" or the "Company"), a leading producer of automotive electrical diagnostic tools for professional service technicians, was notified yesterday, 26 March 2026, of the following purchases of ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares"):

Name
Ordinary Shares purchased
Price per Ordinary Share (pence)
Resulting shareholding
Resulting shareholding (%)
Chema Garcia, Chief Executive Officer*
52,000
71.0
3,279,749
4.45
Michael Sherwin, Independent Non-Executive Chairman
14,000
71.0
62,780
0.09
Fabio Medina, Chief Financial Officer
4,100
71.0
49,770
0.07
Cynthia Alers, Independent Non-Executive Director
7,132
70.0
25,424
0.03
Colin Fielding, Independent Non-Executive Director
1,350
71.0
1,350
0.00

*Purchased via CHR International Projects Limited, a company wholly owned by Chema Garcia

Further details of the above dealings are set out at the end of this announcement.

The Concert Party

The Company has agreed with the Panel on Takeovers and Mergers that CHR International Projects (a company wholly owned by Chema Garcia) is presumed to be acting in concert with the members of the Concert Party (as defined below) in relation to the Company. Accordingly, there is presumed to be a single concert party, who together hold 53.4 per cent. of the Company's issued share capital (the "Concert Party"):

Shareholder
No. Ordinary Shares
%
JNC Ever Limited
9,981,980
13.54
Superb Wealth Limited
9,516,440
12.91
Jubilant Inspirations Limited
7,486,480
10.16
Noble Character Limited
7,486,480
10.16
CHEN, Wang-Chuan
912,400
1.24
SO, Wan
638,680
0.87
CHEN, Yen-Lei
91,240
0.12
IP, Foo Wing
None
Nil
CHEN, Yen-Chen
None
Nil
CHR International Projects Limited
3,279,749
4.45
Total
39,393,449
53.45

 

As set out in the Company's admission document dated 5 December 2025, it is the intention of So Wan to place in trust the shareholdings of JNC Ever Limited, Jubilant Inspirations Limited and Noble Character Limited for the benefit of So Wan, Ip Foo Wing, his spouse and their children (the "Ip Foo Wing Family Trust").

Upon the establishment of the Ip Foo Wing Family Trust, the aggregate interest of the Concert Party will be unchanged, but the individual interest of Ip Foo Wing and his spouse will increase to 24,954,940 Ordinary Shares, representing 33.9 per cent. of the voting rights of the Company.

Furthermore, Chema Garcia was granted an award under the Long Term Incentive Performance Share Plan adopted by the Company on 4 December 2025 (the "Performance Share Plan"), subject to certain performance-based and other vesting criteria, to receive nominal cost new Ordinary Shares, representing in aggregate 0.8 per cent. of the Company's issued share capital.

Following the establishment of the Ip Foo Wing Family Trust, and assuming full vesting of such awards under the Performance Share Plan, the Concert Party would be interested in aggregate in a maximum of 39,952,963 Ordinary Shares representing 53.8 per cent. of the Company's issued share capital at that time, assuming no other Ordinary Shares are issued.

The members of the Concert Party hold shares carrying more than 50 per cent. of the voting rights of the Company and (for so long as they continue to be acting in concert) no obligation to make an offer under Rule 9 of the City Code on Takeovers and Mergers will normally arise from acquisitions of interests in shares carrying voting rights by any member of the Concert Party.

ENDS

 

CONTACT DETAILS

Power Probe
Chema Garcia, Chief Executive Officer
Fabio Medina, Chief Financial Officer
Tom Marsh,Corporate Development & Investor Relations
https://powerprobe.com/en/
c/o Sodali & Co
Shore Capital (Nominated Adviser & Broker)
Toby Gibbs / Harry Davies-Ball (Corporate Advisory)
William Marshall (Corporate Broking)
+44 (0)20 7408 4090
Sodali & Co
James White / Tilly Abraham / James Whitaker
+44 (0)78 5543 2699
powerprobe@client.sodali.com

 

About Power Probe

Power Probe is a leading producer of automotive electrical diagnostic tools for professional service technicians.

The Group was founded in 1992 in California, USA, and has grown to become an internationally renowned brand, designing and distributing over 120 products. It is driven by a relentless focus on product quality, continuous innovation and customer care, as captured in its mission statement: "Simplifying Automotive Diagnostics".

 

1.
Details of PDMR / person closely associated with them ('PCA')
a)
Name
Chema Garcia
2.
Details of PDMR / person closely associated with them ('PCA')
a)
Position / status
Chief Executive Officer
b)
Initial notification / amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Power Probe PLC
b)
LEI
2138008NNTZ6JFU6J368
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
c)
Description of the financial instrument
Ordinary shares of 0.1 pence each in the capital of Power Probe PLC
ISIN: GB00BSDYS558
d)
Nature of the transaction
Purchase of Ordinary Shares
e)
Price and volume
Type
Price (PENCE)
Volume
Purchase
71.0
52,000
f)
Aggregated information
Aggregated volume
Price
Type
Aggregate Price
Aggregate Volume
Purchase
71.0
52,000
g)
Date of the transaction
26 March 2026
h)
Place of the transaction
London Stock Exchange (XLON)

 

1.
Details of PDMR / person closely associated with them ('PCA')
a)
Name
Michael Sherwin
2.
Details of PDMR / person closely associated with them ('PCA')
a)
Position / status
Independent Non-Executive Chairman
b)
Initial notification / amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Power Probe PLC
b)
LEI
2138008NNTZ6JFU6J368
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
c)
Description of the financial instrument
Ordinary shares of 0.1 pence each in the capital of Power Probe PLC
ISIN: GB00BSDYS558
d)
Nature of the transaction
Purchase of Ordinary Shares
e)
Price and volume
Type
Price (PENCE)
Volume
Purchase
71.0
14,000
f)
Aggregated information
Aggregated volume
Price
Type
Aggregate Price
Aggregate Volume
Purchase
71.0
14,000
g)
Date of the transaction
26 March 2026
h)
Place of the transaction
London Stock Exchange (XLON)

 

1.
Details of PDMR / person closely associated with them ('PCA')
a)
Name
Cynthia Alers
2.
Details of PDMR / person closely associated with them ('PCA')
a)
Position / status
Independent Non-Executive Director
b)
Initial notification / amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Power Probe PLC
b)
LEI
2138008NNTZ6JFU6J368
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
c)
Description of the financial instrument
Ordinary shares of 0.1 pence each in the capital of Power Probe PLC
ISIN: GB00BSDYS558
d)
Nature of the transaction
Purchase of Ordinary Shares
e)
Price and volume
Type
Price (PENCE)
Volume
Purchase
70.0
7,132
f)
Aggregated information
Aggregated volume
Price
Type
Aggregate Price
Aggregate Volume
Purchase
70.0
7,132
g)
Date of the transaction
25 March 2026
h)
Place of the transaction
London Stock Exchange (XLON)

 

1.
Details of PDMR / person closely associated with them ('PCA')
a)
Name
Fabio Medina
2.
Details of PDMR / person closely associated with them ('PCA')
a)
Position / status
Chief Financial Officer
b)
Initial notification / amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Power Probe PLC
b)
LEI
2138008NNTZ6JFU6J368
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
c)
Description of the financial instrument
Ordinary shares of 0.1 pence each in the capital of Power Probe PLC
ISIN: GB00BSDYS558
d)
Nature of the transaction
Purchase of Ordinary Shares
e)
Price and volume
Type
Price (PENCE)
Volume
Purchase
71.0
4,100
f)
Aggregated information
Aggregated volume
Price
Type
Aggregate Price
Aggregate Volume
Purchase
71.0
4,100
g)
Date of the transaction
26 March 2026
h)
Place of the transaction
London Stock Exchange (XLON)

 

1.
Details of PDMR / person closely associated with them ('PCA')
a)
Name
Colin Fielding
2.
Details of PDMR / person closely associated with them ('PCA')
a)
Position / status
Independent Non-Executive Director
b)
Initial notification / amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Power Probe PLC
b)
LEI
2138008NNTZ6JFU6J368
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
c)
Description of the financial instrument
Ordinary shares of 0.1 pence each in the capital of Power Probe PLC
ISIN: GB00BSDYS558
d)
Nature of the transaction
Purchase of Ordinary Shares
e)
Price and volume
Type
Price (PENCE)
Volume
Purchase
71.0
1,350
f)
Aggregated information
Aggregated volume
Price
Type
Aggregate Price
Aggregate Volume
Purchase
71.0
1,350
g)
Date of the transaction
26 March 2026
h)
Place of the transaction
London Stock Exchange (XLON)

 

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