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

StrixAnnouncement

25/04/2024 07:00

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RNS Number : 8982L  Strix Group PLC  25 April 2024

25 April 2024

Strix Group plc

 

("Strix" or the "Company")

 

Exercise and Grant of Options and Issue of Equity

 

 

Strix Group Plc (AIM:KETL), the 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 209,890
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 2021 ("2021 LTIP Award") and vested and became exercisable from 25 April
2024 in accordance with the rules of the LTIP. The Option Shares were awarded
to Strix employees and not to Strix's directors. The remainder of the 2021
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 209,890 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 26 April 2024. 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 218,924,238 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 1,940,812
Ordinary Shares under the LTIP.

 

Included within the 1,940,812 options granted are the following to
Directors/PDMR 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  659,050                                           123,995                                  528,972                    1,064,027
 Clare Foster   Chief Financial Officer  225,089                                           -                                        458,741                    683,830
 TOTAL                                   884,139                                           123,995                                  987,713                    1,747,857

 

 

In addition to the options awarded to Directors, 953,099 options have been
awarded to the Company's key employees. All options have been granted at nil
cost and 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  5,320,571 representing 2.4% 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                                              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                                                         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         528,972
 d)   Aggregated information                                       N/A - single transaction

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      25/04/24
 f)   Place of the transaction                                     London Stock Exchange, AIM

d)

Aggregated information

- Aggregated volume

- Price

N/A - single transaction

e)

Date of the transaction

25/04/24

f)

Place of the transaction

London Stock Exchange, AIM

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Clare Foster
 2    Reason for the notification
 a)   Position/status                                              Chief Financial Officer
 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         458,741
 d)   Aggregated information                                       N/A - single transaction

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      25/04/24
 f)   Place of the transaction                                     London Stock Exchange, AIM

d)

Aggregated information

- Aggregated volume

- Price

N/A - single transaction

e)

Date of the transaction

25/04/24

f)

Place of the transaction

London Stock Exchange, AIM

 

 

 

Further enquiries, please contact:

 Strix Group Plc                                       +44 (0) 1624 829829

 Mark Bartlett, CEO

 Clare Foster, CFO

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

 Nick Cowles / 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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