REG - Solid State PLC - Issue of Equity & Directors' Dealings
23/10/2024 17:00
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RNS Number : 3626J Solid State PLC 23 October 2024
23 October 2024
Solid State plc
("Solid State", the "Group" or the "Company")
Exercise of Options
Issue of Equity
&
Directors' 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 18 October 2024, options over a total of 133,500 new
ordinary shares of 5p each in Solid State Plc ("Ordinary Shares") were
exercised under the Company's Enterprise Management Incentive Scheme and the
Company's Long Term Incentive Plan by certain Directors.
The Company has also been notified that, to cover the costs associated with
these exercises and to mitigate the potential Capital Gains Tax increase
impact expected to be announced in the UK budget on 30 October 2024, 49,500
Ordinary Shares have been sold, in aggregate, by these Directors. Further
details of these transactions are set out below.
Director Type of Exercise (option scheme) Number of options over new Ordinary Shares exercised Total number of Ordinary Shares sold following exercise Sale price per ordinary share
Gary Marsh (Chief Executive Officer) EMI options 40,000 40,000 240p
Gary Marsh (Chief Executive Officer) Long Term Incentive Plan 53,500 0 N/A
John Macmichael (Director) EMI Options 40,000 9,500 240p
Furthermore, Gary Marsh has transferred 2,000 Ordinary Shares to his spouse,
Laura Marsh, for nil consideration on 18 October, who subsequently sold 1,750
Ordinary Shares at a price of 221.5p per share, on 23 October.
Following these transactions, Gary Marsh and John Macmichael hold, together
with their persons closely associated, 1,320,680 Ordinary Shares and 538,280
Ordinary Shares respectively. Both Directors will increase their respective
shareholdings following this exercise.
Application has been made for the admission of the 133,500 new Ordinary Shares
to trading on AIM. The new Ordinary Shares will rank pari passu with the
existing Ordinary Shares. It is expected that Admission will become effective
and that dealings in the new Ordinary Shares will commence at 8.00 a.m. on 25
October 2024.
Total Voting Rights
Following Admission, the Company's issued share capital will consist of
57,081,720 Ordinary Shares of which 35,980 Ordinary Shares are held in
treasury. Therefore, the total number of voting rights in the Company is
57,045,740. 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 Gary Marsh
2 Reason for the notification
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 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
Ordinary shares of 5p each
Identification code
GB0008237132
b) Nature of the transaction Exercise of options under the Company's Enterprise Management Incentive (EMI)
Scheme
c) Price(s) and volume(s)
Type Price(s) Volume(s)
Exercise of options Exercise price of 0.0002p per share 40,000
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
e) Date of the transaction 18 October 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transaction
e)
Date of the transaction
18 October 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gary Marsh
2 Reason for the notification
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 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
Ordinary shares of 5p each
Identification code
GB0008237132
b) Nature of the transaction Exercise of options under the Company's Long Term Incentive Plan
c) Price(s) and volume(s)
Type Price(s) Volume(s)
Exercise of options Exercise price of 5p per share 53,500
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
e) Date of the transaction 18 October 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transaction
e)
Date of the transaction
18 October 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gary Marsh
2 Reason for the notification
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 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
Ordinary shares of 5p each
Identification code
GB0008237132
b) Nature of the transaction Sale of ordinary shares
c) Price(s) and volume(s)
Type Price(s) Volume(s)
Sale of shares 240p 40,000
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
e) Date of the transaction 18 October 2024
f) Place of the transaction London Stock Exchange - AIMX
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transaction
e)
Date of the transaction
18 October 2024
f)
Place of the transaction
London Stock Exchange - AIMX
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gary Marsh
2 Reason for the notification
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 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
Ordinary shares of 5p each
Identification code
GB0008237132
b) Nature of the transaction Transfer of ordinary shares to spouse for nil consideration
c) Price(s) and volume(s)
Type Price(s) Volume(s)
Transfer of shares Nil consideration 2,000
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
e) Date of the transaction 18 October 2024
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name John Macmichael
2 Reason for the notification
a) Position/status Director
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
Ordinary shares of 5p each
Identification code
GB0008237132
b) Nature of the transaction Exercise of options under the Company's Enterprise Management Incentive (EMI)
Scheme
c) Price(s) and volume(s)
Type Price(s) Volume(s)
Exercise of options Exercise price of 0.0002p per share 40,000
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
e) Date of the transaction 18 October 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transaction
e)
Date of the transaction
18 October 2024
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely
associated
a)
Name
John Macmichael
2
Reason for the notification
a)
Position/status
Director
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)
Type Price(s) Volume(s)
Exercise of options Exercise price of 0.0002p per share 40,000
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transaction
e)
Date of the transaction
18 October 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name John Macmichael
2 Reason for the notification
a) Position/status Director
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
Ordinary shares of 5p each
Identification code
GB0008237132
b) Nature of the transaction Sale of ordinary shares
c) Price(s) and volume(s)
Type Price(s) Volume(s)
Sale of shares 240p 9,500
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
e) Date of the transaction 18 October 2024
f) Place of the transaction London Stock Exchange - AIMX
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transaction
e)
Date of the transaction
18 October 2024
f)
Place of the transaction
London Stock Exchange - AIMX
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Laura Marsh
2 Reason for the notification
a) Position/status Wife of Gary Marsh, Chief Executive Officer of Solid State PLC
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
Ordinary shares of 5p each
Identification code
GB0008237132
b) Nature of the transaction Acquisition of ordinary shares from spouse by way of transfer for nil
consideration
c) Price(s) and volume(s)
Type Price(s) Volume(s)
Acquisition of shares Nil consideration 2,000
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
e) Date of the transaction 18 October 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transaction
e)
Date of the transaction
18 October 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Laura Marsh
2 Reason for the notification
a) Position/status Wife of Gary Marsh, Chief Executive Officer of Solid State PLC
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
Ordinary shares of 5p each
Identification code
GB0008237132
b) Nature of the transaction Sale of ordinary shares
c) Price(s) and volume(s)
Type Price(s) Volume(s)
Sale of shares 221.5p per share 1,750
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
e) Date of the transaction 23 October 2024
f) Place of the transaction London Stock Exchange - AIMX
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transaction
e)
Date of the transaction
23 October 2024
f)
Place of the transaction
London Stock Exchange - AIMX
For further information please contact:
Solid State plc Via Walbrook
Gary Marsh - Chief Executive
Peter James - Group Finance Director
Cavendish Capital Markets Limited 020 7220 0500
(Nominated Adviser & Broker)
Adrian Hadden / Callum Davidson (Corporate Finance)
Jasper Berry / Tim Redfern (Sales / ECM)
Walbrook PR (Financial PR) 020 7933 8780
Tom Cooper / Nick Rome / Joe Walker 0797 122 1972
solidstate@walbrookpr.com (mailto:solidstate@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 (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 two divisions (Systems 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 and Durakool.
Solid State plc is headquartered in Redditch, UK, and employs over 400 people
around the world. The business has seven production facilities in the UK and
two in the USA. In total, including all office locations, the Group operates
from 15 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 four acquisitions
in the last four 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
(https://urldefense.proofpoint.com/v2/url?u=https-3A__youtu.be_1M-5FQ-5FB1mYic&d=DwMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=3dW1DsO04w3fOD5H-7rw_kFgcxacpqn1XcdwanaeIt0GZ7CA-Ex3GbIRbrY8H0Qp&s=At43cSgB_l2_aLDoWAG1btwtdQsj0fGFEOvZuRER61Y&e=)
Why invest in Solid State? - https://youtu.be/ShmTz6005ws
(https://urldefense.proofpoint.com/v2/url?u=https-3A__youtu.be_ShmTz6005ws&d=DwMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=3dW1DsO04w3fOD5H-7rw_kFgcxacpqn1XcdwanaeIt0GZ7CA-Ex3GbIRbrY8H0Qp&s=BRSABtV1H6lx3GEpH8ZgxTINGT_PRgrBvEbFa-O11Yg&e=)
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