Exercise of Options, PDMR Dealings & TVR
22 September 2026
Solid State plc
(“Solid State”, the “Group” or the “Company”)
Exercise of Options & PDMR Dealings
Solid State plc (AIM: SOLI), the specialist value added component supplier and design-in manufacturer of computing, power, and communications products, announces that on 22 September 2026, the Company was notified by certain employee and PDMR option holders to exercise a total of 158,500 ordinary shares of 5p each in the Company ("Ordinary Shares").
This included PDMRs Matthew Richards (CRO) and Peter James (CFO) who exercised options over 50,000 and 37,500 ordinary shares of 5p each in the Company ("Ordinary Shares") respectively, pursuant to the Company’s Enterprise Management Incentive Scheme, at an exercise price of 0.02p per share.
To satisfy these option exercises, the Company has transferred a total of 158,500 existing ordinary shares from Treasury to the beneficiaries.
Following the exercise, Peter James has gifted 12,500 Ordinary Shares to his wife, Rosemary James and Matthew Richards gifted 12,500 Ordinary Shares to his wife, Lynette Richards.
As a result of these exercises, Peter James’ total beneficial shareholding, including those held by his persons associated, has increased to 192,904 Ordinary Shares and Matthew Richards’ total shareholdings, including those persons closely associated has increased to 198,517 Ordinary Shares.
Total Voting Rights
Following the exercise of options, the Company's issued share capital remains the same at 57,081,720 Ordinary Shares and the number of shares held in Treasury has reduced to 123,508 Ordinary Shares. Accordingly, the total number of voting rights in the Company is now 56,958,212. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Peter James
2
Reason for the notification
a)
Position/status
CFO
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Solid State plc
b)
LEI
213800QUHS9QTN5T1P62
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 5p each
GB0008237132
b)
Nature of the transaction
- Exercise of options under the Company’s Enterprise Management Incentive (EMI) Scheme
- Gift of ordinary shares to Rosemary James, spouse and PCA
c)
Price(s) and volume(s)
Transaction
Type
Price(s)
Volume(s)
Exercise of options
Exercise price of 0.02p per share
37,500
Gift of ordinary shares to spouse
Nil
12,500
d)
Aggregated information
- Aggregated volume
- Price
- N/A – single transaction
- N/A – single transaction
e)
Date of the transaction
- 22 September 2026
- 22 September 2026
f)
Place of the transaction
- Outside a trading venue
- Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Rosemary James
2
Reason for the notification
a)
Position/status
Spouse and PCA of Pete James, CFO
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Solid State plc
b)
LEI
213800QUHS9QTN5T1P62
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 5p each
GB0008237132
b)
Nature of the transaction
Acquisition of shares from Pete James via transfer for nil consideration
c)
Price(s) and volume(s)
Type
Price(s)
Volume(s)
Gift of shares from Peter James
Nil
12,500
d)
Aggregated information
- Aggregated volume
- Price
N/A – single transaction
e)
Date of the transaction
22 September 2026
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Matthew Richards
2
Reason for the notification
a)
Position/status
CRO
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Solid State plc
b)
LEI
213800QUHS9QTN5T1P62
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 5p each
GB0008237132
b)
Nature of the transaction
Exercise of options under the Company’s Enterprise Management Incentive (EMI) Scheme
c)
Price(s) and volume(s)
Transaction
Type
Price(s)
Volume(s)
1
Exercise of options
Exercise price of 0.02p per share
50,000
2
Gift of ordinary shares to spouse
Nil
12,500
d)
Aggregated information
- Aggregated volume
- Price
N/A – single transaction
e)
Date of the transaction
22 September 2026
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Lynette Richards
2
Reason for the notification
a)
Position/status
Spouse and PCA of Matthew Richards CRO
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Solid State plc
b)
LEI
213800QUHS9QTN5T1P62
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 5p each
GB0008237132
b)
Nature of the transaction
Acquisition of shares from Pete James via transfer for nil consideration
c)
Price(s) and volume(s)
Type
Price(s)
Volume(s)
Gift of shares from Matthew Richards
Nil
12,500
d)
Aggregated information
- Aggregated volume
- Price
N/A – single transaction
e)
Date of the transaction
22 September 2026
f)
Place of the transaction
Outside a trading venue
For further information please contact:
Solid State plc
John Macmichael - Chief Executive Officer
Peter James - Group Finance Director
Via Walbrook
Cavendish Capital Markets Limited
(Nominated Adviser & Broker)
Adrian Hadden / Callum Davidson (Corporate Finance)
Jasper Berry (Sales / ECM)
020 7220 0500
Walbrook PR (Financial PR)
Tom Cooper / Nick Rome / Marcus Ulker
020 7933 8780
0797 122 1972
Analyst Research Reports: For further analyst information and research see the Solid State plc website: https://solidstateplc.com/research/
Notes to Editors:
Solid State plc (AIM: SOLI) is a leading value-added electronics group supplying industrial and defence markets with durable components, assemblies and manufactured systems for use in critical applications, with a particular emphasis on harsh operational environments. Solid State's products are found around the world, from the ocean floor and into space, ensuring the smooth operation of systems that augment our everyday lives.
The Company has a core focus on industrial and ruggedised computing, battery power solutions, antennas, secure radio systems, imaging technologies, and electronic components & displays.
Operating through three divisions (Systems, Power and Components) the Group thrives on complex engineering challenges, often requiring design-in support and component sourcing. Serving a wide range of industries, with a particular focus on defence, energy production, aerospace, environmental, oceanographic, industrial, robotics, medical, life sciences, and transportation, the Solid State trading brands have become synonymous with quality and reliability. The Group operates under the brands of Steatite, Solsta, Custom Power, Pacer, Active Silicon, Gateway, Durakool and Q-Par.
Solid State plc is headquartered in Redditch, UK, and employs over 425 people around the world. The business has seven production facilities in the UK and one in the USA. In total, including all office locations, the Group operates from 13 national and international sites.
Solid State was established in 1971 and admitted to AIM in June 1996. The Group has grown organically and by acquisition - having made five acquisitions in the last five years.
Take a look at the videos below for more insight into the Solid State Group.
Introduction to Solid State - https://youtu.be/1M_Q_B1mYic
Why invest in Solid State? - https://youtu.be/ShmTz6005ws
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