REG - Strix Group PLC - Exercise and Grant of Options and Issue of Equity

StrixAnnouncement

20/04/2023 07:00

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RNS Number : 8257W  Strix Group PLC  20 April 2023

20 April 2023

Strix Group plc

 

("Strix" or the "Company")

 

Exercise and Grant of Options and Issue of Equity

 

 

Strix Group Plc (AIM:KETL), the AIM quoted global leader in the design,
manufacture and supply of kettle safety controls and other complementary water
temperature management components, announces the Company has issued 3,448 new
ordinary shares of £0.01 each ("Ordinary Shares") in the Company (the "Option
Shares") pursuant to the exercise of options ("Options") under the Strix Group
Plc Long Term Incentive Plan ("LTIP"). The Options were granted in April 2020
("2020 LTIP Award") and vested and became exercisable from 17 April 2023 in
accordance with the rules of the LTIP. The Option Shares were awarded to a
Strix employee and not to Strix's directors or key management whose awards
were linked to performance conditions. The remainder of the 2020 LTIP Awards,
including those held by Strix's directors, have lapsed.

 

Admission and Total voting rights

 

Strix has made application to the London Stock Exchange for the issue of
securities in respect of 3,448 new Ordinary Shares to be admitted to trading
on AIM in relation to the exercise of the Option Shares and it is expected
that admission will become effective on 21 April 2023. The Option Shares are
being issued to satisfy the exercise of Options by an employee under the LTIP.

 

Following the admission of the new Ordinary Shares pursuant to the exercise of
share options and the issue of equity, the Company's issued share capital will
comprise 218,714,348 Ordinary Shares and may be used by shareholders in the
Company as the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules. The Company does not hold any shares in
treasury.

 

Grant of Options

 

Strix also announces that it granted options over a total of 2,560,178
Ordinary Shares under the LTIP.

 

Included within the 2,560,178 options granted are the following to Directors
of the Company as part of their annual remuneration and incentivisation
packages:

 

 Director / PDMR  Position                 Number of unvested share options previously held  Number of unvested share options lapsed  Number of options granted  Total number of unvested share options held
 Mark Bartlett    Chief Executive Officer  496,893                                           197,138                                  359,295                    659,050
 Raudres Wong     Chief Financial Officer  434,915                                           196,060                                  311,615                    550,470
 TOTAL                                                                                                                                670,910                    1,209,520

 

 

In addition to the options awarded to Directors, 1,889,268 options have been
awarded to the Company's key employees, including 531,950 options granted to
senior Billi employees. All options have been granted at nil cost and,
excluding 531,950 granted to senior Billi employees, are subject to
performance conditions as determined by the Company's Remuneration Committee.

 

Following these grants, the total number of options over Ordinary Shares in
issue is 4,212,808 representing 1.9% per cent. of the issued share capital of
the Company.

 

The notification below, made in accordance with the requirements of the EU
Market Abuse Regulation, provides further detail.

 

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                                                         Mark Bartlett
 2    Reason for the notification
 a)   Position/status                                              CEO
 b)   Initial notification /Amendment                              Initial notification

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

    platform, auctioneer or auction monitor

 a)   Name                                                         Strix Group Plc
 b)   LEI                                                          213800KZEW5W6BZMNT62
 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 £0.01

      Identification code

                                                                   ISIN: IM00BF0FMG91
 b)   Nature of the transaction                                    Grant of Options
 c)   Price(s) and volume(s)                                        Price(s)   Volume(s)
                                                                   Nil         359,295
 d)   Aggregated information                                       N/A - single transaction

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      17 April 2023
 f)   Place of the transaction                                     London Stock Exchange, AIM

d)

Aggregated information

- Aggregated volume

- Price

N/A - single transaction

e)

Date of the transaction

17 April 2023

f)

Place of the transaction

London Stock Exchange, AIM

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Raudres Wong
 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                                                         Strix Group Plc
 b)   LEI                                                          213800KZEW5W6BZMNT62
 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 £0.01

      Identification code

                                                                   ISIN: IM00BF0FMG91

 b)   Nature of the transaction                                    Grant of Options
 c)   Price(s) and volume(s)                                        Price(s)   Volume(s)
                                                                   Nil         311,615
 d)   Aggregated information                                       N/A - single transaction

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      17 April 2023
 f)   Place of the transaction                                     London Stock Exchange, AIM

d)

Aggregated information

- Aggregated volume

- Price

N/A - single transaction

e)

Date of the transaction

17 April 2023

f)

Place of the transaction

London Stock Exchange, AIM

 

     Further enquiries, please contact:

 Strix Group Plc                                                    +44 (0) 1624 829829

 Mark Bartlett, CEO

 Raudres Wong, CFO

 Zeus (Nominated Adviser and Joint Broker)                          +44 (0) 20 3829 5000

 Nick Cowles / Jamie Peel / Jordan Warburton (Investment Banking)

 Stifel Nicolaus Europe Limited (Joint Broker)                       +44 (0) 20 7710 7600
 Matthew Blawat / Francis North

 IFC Advisory Limited (Financial PR and IR)                         +44 (0) 20 3934 6630
 Graham Herring / Tim Metcalfe / Florence Chandler

 

ABOUT STRIX GROUP PLC

 

 

 

Isle of Man based Strix, is a global leader in the design, manufacture and
supply of kettle safety controls and other components and devices involving
water heating and temperature control, steam management and water filtration.

 

Strix's core product range comprises a variety of safety controls for small
domestic appliances, primarily kettles. Kettle safety controls require
precision engineering and intricate knowledge of material properties in order
to repeatedly function correctly. Strix has built up market leading capability
and know-how in this field since being founded in 1982.

 

Strix trades on the AIM Market of the London Stock Exchange (AIM: KETL).

 

 

 

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