REG - Power Probe PLC - Director/PDMR Shareholding & Concert Party Update

Power ProbeAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260327:nRSa3348Ya&default-theme=true

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                                                 https://powerprobe.com/en/ (https://powerprobe.com/en/)

 Chema Garcia, Chief Executive Officer                       c/o Sodali & Co

 Fabio Medina, Chief Financial Officer

 Tom Marsh, Corporate Development & Investor Relations

 Shore Capital (Nominated Adviser & Broker)                  +44 (0)20 7408 4090

 Toby Gibbs / Harry Davies-Ball (Corporate Advisory)

 William Marshall (Corporate Broking)

 Sodali & Co                                                 +44 (0)78 5543 2699

 James White / Tilly Abraham / James Whitaker                powerprobe@client.sodali.com (mailto: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

Type      Aggregate Price  Aggregate Volume
                                              Purchase  71.0             52,000

      Aggregated volume
 

      Price
 g)  Date of the transaction                  26 March 2026
 h)  Place of the transaction                 London Stock Exchange (XLON)

 

 

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

Type      Aggregate Price  Aggregate Volume
                                              Purchase  71.0             14,000

      Aggregated volume
 

      Price
 g)  Date of the transaction                  26 March 2026
 h)  Place of the transaction                 London Stock Exchange (XLON)

 

 

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

Type      Aggregate Price  Aggregate Volume
                                              Purchase  70.0             7,132

      Aggregated volume
 

      Price
 g)  Date of the transaction                  25 March 2026
 h)  Place of the transaction                 London Stock Exchange (XLON)

 

 

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

Type      Aggregate Price  Aggregate Volume
                                              Purchase  71.0             4,100

      Aggregated volume
 

      Price
 g)  Date of the transaction                  26 March 2026
 h)  Place of the transaction                 London Stock Exchange (XLON)

 

 

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

Type      Aggregate Price  Aggregate Volume
                                              Purchase  71.0             1,350

      Aggregated volume
 

      Price
 g)  Date of the transaction                  26 March 2026
 h)  Place of the transaction                 London Stock Exchange (XLON)

 

 

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)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHFLFERVFIRFIR



            Copyright 2019 Regulatory News Service, all rights reserved