REG - Solid State PLC - Directors’ Subscriptions

Solid StateAnnouncement

27/07/2022 15:00

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RNS Number : 9669T  Solid State PLC  27 July 2022

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE EU
REGULATION 596/2014 AS IT FORMS PART OF THE UK LAW BY VIRTUE OF THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT
VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN
THE PUBLIC DOMAIN.

 

 

27 July 2022

 

Solid State plc

 ("Solid State", the " Group " or the "Company")

 

 

Directors' Subscriptions

 

 

Solid State plc (AIM: SOLI), the specialist value added component supplier and
design-in manufacturer of computing, power and communications products, is
pleased to announce that pursuant to the Fundraising announced on 12 July 2022
and the release of the Company's results earlier today, the Directors of the
Company have subscribed for 14,146 New Ordinary Shares at the same issue price
as the Placing and Open Offer Shares of 1,025 pence.   Further details on
the Directors' individual subscription are set out in the table below.

 

                     Number of Director Subscription Shares Subscribed for  Number of existing shares held by the Directors as at 27 July 2022
 Nigel Rogers                      1,951*                                   4,400
 Gary Marsh                            976                                  280,892
 Peter James                       2,439*                                   3,205
 Peter Magowan                     2,927                                    4,000
 Matthew Richards                  1,951                                    10,376
 Peter Haining                     1,951                                    54,627
 John Macmichael                   1,951                                    122,491
 Total                           14,146

* shares to be held in their spouses name

 

The Directors' Subscriptions together with the Placing and Open Offer, as
previously announced, are conditional on, amongst other matters, the passing
of the Resolution at the General Meeting to be held on 29 July 2022 and upon
the Placing and Open Offer Agreement between the Company, WH Ireland and
finnCap becoming unconditional and not being terminated in accordance with its
terms.  A further notification regarding the Directors' Subscriptions will be
made following Admission which is scheduled for 2 August 2022.

 

Definitions

 

Capitalised terms used in this announcement have the meanings given to them in
the Circular, published on 13 July 2022, unless the context provides
otherwise.

 

For further information please contact:

 

 

 Solid State plc                                    01527 830 630
 Gary Marsh - Chief Executive                       investor.information@solidstateplc.com

                                                  (mailto:investor.information@solidstateplc.com)
 Peter James - Group Finance Director

 WH Ireland (Nominated Adviser & Joint Broker)      0202 220 1666
 Mike Coe / Sarah Mather (Corporate Finance)

 Fraser Marshall (Corporate Broking / Sales)

 finnCap (Joint Broker)                             020 7220 0500
 Ed Frisby / Kate Bannatyne (Corporate Finance)

 Rhys Williams / Tim Redfern (Sales / ECM)

 Walbrook PR (Financial PR)                         020 7933 8780
 Tom Cooper / Paul Vann                             0797 122 1972
                                                    tom.cooper@walbrookpr.com (mailto:tom.cooper@walbrookpr.com)

 

Analyst Research Reports: For further analyst information and research see
the Solid State plc website: https://solidstateplc.com/research/
(https://urldefense.proofpoint.com/v2/url?u=https-3A__solidstateplc.com_research_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=JmX-gQVke87P3UDBxQzNglNm9FfzH5yZtIa_SmElSS4&s=ib8r3ul2tCaEvJ39SnR1LT7nCa7gAcRQzgO-kNoyZoM&e=)

 Notes to Editors:

Solid State plc (SOLI) is a value added electronics group supplying
commercial, industrial and military markets with durable components,
assemblies and manufactured units for use in specialist and harsh
environments.  The Group's mantra is - 'Trusted technology for demanding
applications'.  To see an introductory video on the Group
-  https://bit.ly/3kzddx7 (https://bit.ly/3kzddx7)

Operating through two main divisions: Systems (Steatite & Active Silicon)
and Components (Solid State Supplies, Pacer, Willow Technologies & AEC);
the Group specialises in complex engineering challenges often requiring
design-in support and component sourcing for computing, power, communications,
electronic, electro-mechanical and opto-electronic products.

Headquartered in Redditch, UK, Solid State employs approximately 300 staff
across UK and US, serving specialist markets in industrial, defence and
security, transportation, medical and energy.

Solid State was established in 1971 and admitted to AIM in June 1996.  The
Group has grown organically and by acquisition - having made 12 acquisitions
since 2002.

 

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