REG - Strip Tinning Hldgs - Grant of Options and Director/PDMR Dealing

Strip Tinning HoldingsAnnouncement

06/03/2023 07:00

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RNS Number : 9009R  Strip Tinning Holdings PLC  06 March 2023

6 March 2023

Strip Tinning Holdings plc

("Strip Tinning" or the "Company")

Grant of Options under 2022 Performance Share Plan

Director/PDMR Dealing

Strip Tinning Holdings plc (AIM: STG), a leading supplier of specialist
connection systems to the automotive sector, announces that, under the terms
of the Company's 2022 Performance Share Plan (the "PSP") 1 , the Board has
granted nominal cost options (the "Options") over 960,908 ordinary shares of 1
pence each in the Company ("Ordinary Shares") to certain Directors and
employees discharging managerial responsibilities ("PDMRs"), as set out below.

The Board believes it is key that the Company retains and incentivises its
senior executive team to drive the business forward and align their interests
with those of shareholders. This forms the basis for the grant of the Options.
 

Richard Barton, Group CEO, has chosen not to accept any options under the PSP,
due to his already significant shareholding.

The Options will vest subject to the Company achieving certain financial
performance criteria for the financial year ending 31 December 2025. The
financial performance criteria are based on the Group as a whole, with 50% of
the Options awarded subject to achieving total shareholder return hurdles and
50% subject to achieving underlying operating profit hurdles. The Remuneration
Committee of the Board has discretion to amend these terms to take account of,
for example, corporate activities such as acquisitions, to ensure that the
performance targets remain appropriate.

The Options will vest from 3 March 2026 (the "Vesting Period"), being three
years from the grant date.

The Options awarded to PDMRs are set out in the table below.

 Director/ PDMR  Position                 Options granted
 Adam Robson     Executive Chair          413,636
 Mark Perrins    Managing Director        203,636
 Adam Le Van     Chief Financial Officer  171,818
 Steve O'Connor  Group Sales Director     171,818

 

Enquiries:

Strip Tinning Holdings plc

Adam Robson, Exec Chair
 
Via Alma PR

Richard Barton, Chief Executive
Officer

Adam Le Van, Chief Financial Officer

 

Singer Capital Markets (Nominated Adviser and Sole
Broker)                    +44 (0) 20 7496 3000

Rick Thompson

Alex Bond

James Fischer

 

Alma PR (Financial
PR)
striptinning@almapr.co.uk (mailto:striptinning@almapr.co.uk)

Josh
Royston
+44 (0) 20 3405 0205

Joe Pederzolli
 

 

About Strip Tinning:

Strip Tinning Holdings plc (AIM: STG), is a leading supplier of specialist
connection systems to the automotive sector.

Founded in 1957 the Company has a rich history in providing components to a
global Tier 1 OEM base for use in the world's most recognised car brands. In
2019, Strip Tinning adapted its expertise to create ST Flex, a growing range
of flexible printed circuits for use in the fast growing EV market.

Strip Tinning manufactures specialist flexible electrical connectors related
primarily to heating and antennae systems embedded within automotive glazing
and to the connection of the cells within electric vehicle (EV) battery packs,
increasingly using flexible and lightweight printed circuit technology.

The Company is headquartered and operates from its site at Arden Business Park
Birmingham with 95% of all sales exported worldwide to meet the needs of most
of the world's leading automotive OEMs.

For additional information please visit  www.striptinning.com

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         1.     Adam Robson

                                                                   2.     Mark Perrins

                                                                   3.     Adam Le Van

                                                                   4.     Steve O'Connor
 2    Reason for the notification

 a)   Position/status                                              1.     Executive Chairman

                                                                   2.     Managing Director

                                                                   3.     Chief Financial Officer

                                                                   4.     Group Sales Director
 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Strip Tinning Holdings plc

 b)   LEI                                                          894500GS6N5D41R6H966

 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 1 pence each

      Identification code                                          ISIN: GB00BMHN9M05

 b)   Nature of the transaction                                    Grant of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     1. £0.01          413,636
                                                                                     2. £0.01          203,636
                                                                                     3. £0.01          171,818
                                                                                     4. £0.01          171,818

 d)   Aggregated information

      - Aggregated volume                                          N/A - single transaction

      - Price

 e)   Date of the transaction                                      3 March 2023

 f)   Place of the transaction                                     Outside a trading venue

 

 1  Details of the PSP are to be found in the Admission Document dated 10
February 2022 which is available on the company website.

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