REG - Strix Group PLC - Exercise of Options and Issue of Equity
RNS Number : 0979WStrix Group PLC21 April 2021This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
21 April 2021
Strix Group plc
("Strix" or the "Company")
Exercise of Options, Issue of Equity and Grant of Options
Exercise of Options
Strix Group Plc (AIM: KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water products used in temperature control, steam management and water filtration, announces that today Mark Bartlett, Chief Executive officer, Raudres Wong, Chief Financial Officer and Frank Gao, Chief Operating Officer, exercised share options over 110,878, 102,075 and 46,173 ordinary shares of £0.01 each ("Ordinary Shares") respectively. These share options were granted on 1 November 2018 under the Strix Group Plc Long Term Incentive Plan ("LTIP").
Following the exercise of the options, the below directors and PDMRs have the following interests in the share capital of the Company:
Director / PDMR
Position
Ordinary Shares held previously
% of total issued share capital
Number of Ordinary Shares over which options exercised
Resulting total number of Ordinary Shares held
% of enlarged issued share capital
Mark Bartlett
Chief Executive Officer
3,400,000
1.65%
110,878
3,510,878
1.70%
Raudres Wong1
Chief Financial Officer
2,200,000
1.07%
102,075
2,302,075
1.11%
Frank Gao
Chief Operating Officer
360,000
0.17%
46,173
406,173
0.20%
TOTAL
5,960,000
2.89%
259,126
6,219,126
3.01%
1 Shares held in the name of her husband, Wing Yip Fong
In addition, certain other employees of the Company have exercised share options over 352,161 Ordinary Shares.
Issue of Equity
Strix has made application to the London Stock Exchange for the issue of securities in respect of 611,287 new Ordinary Shares to be admitted to trading on AIM in relation to the exercise of these share options and it is expected that admission will become effective on 22 April 2021.
Total voting rights
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 206,496,375 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 today over a total of 1,027,736 Ordinary Shares under the Strix Group Plc Long Term Incentive Plan.
Included within the 1,027,736 options granted are the following to Directors and PDMRs of the Company as part of their annual remuneration and incentivisation packages:
Director / PDMR
Position
Number of options granted
Total number of unvested share options held
Mark Bartlett
Chief Executive Officer
123,995
519,531
Raudres Wong
Chief Financial Officer
107,593
499,920
Frank Gao
Chief Operating Officer
63,720
285,415
Harry Kyriacou
Chief Commercial Officer
45,207
277,036
TOTAL
340,515
1,581,902
Of the remaining 687,221 options granted, 87,221 have been awarded to members of the Company's trading board and 600,000 to other employees. All options have been granted at nil cost and for those granted to the Company's trading board these are subject to performance conditions as determined by the Company's Remuneration Committee. Those granted to other employees are subject to remaining in employment with the Company for two years post being granted or specific individual strategic objectives and will vest in two to three years depending on specific strategic targets being met.
Following these grants the total number of options over Ordinary Shares in issue is 3,593,131 representing 1.74 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.
1Details 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
Identification code
Ordinary shares of £0.01
ISIN: IM00BF0FMG91
b)
Nature of the transaction
Exercise of Share Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
110,878
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transactione)
Date of the transaction
21 April 2021
f)
Place of the transaction
London Stock Exchange, AIM
1Details 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
Identification code
Ordinary shares of £0.01
ISIN: IM00BF0FMG91
b)
Nature of the transaction
Exercise of Share Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
102,075
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transactione)
Date of the transaction
21 April 2021
f)
Place of the transaction
London Stock Exchange, AIM
1Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Frank Gao
2
Reason for the notification
a)
Position/status
COO
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
Identification code
Ordinary shares of £0.01
ISIN: IM00BF0FMG91
b)
Nature of the transaction
Exercise of Share Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
46,173
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transactione)
Date of the transaction
21 April 2021
f)
Place of the transaction
London Stock Exchange, AIM
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
Identification code
Ordinary shares of £0.01
ISIN: IM00BF0FMG91
b)
Nature of the transaction
Grant of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
123,995
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transactione)
Date of the transaction
21 April 2021
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
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
Identification code
Ordinary shares of £0.01
ISIN: IM00BF0FMG91
b)
Nature of the transaction
Grant of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
107,593
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transactione)
Date of the transaction
21 April 2021
f)
Place of the transaction
London Stock Exchange, AIM
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Frank Gao
2
Reason for the notification
a)
Position/status
Chief Operating 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
Identification code
Ordinary shares of £0.01
ISIN: IM00BF0FMG91
b)
Nature of the transaction
Grant of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
63,720
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transactione)
Date of the transaction
21 April 2021
f)
Place of the transaction
London Stock Exchange, AIM
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Harry Kyriacou
2
Reason for the notification
a)
Position/status
Chief Commercial 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
Identification code
Ordinary shares of £0.01
ISIN: IM00BF0FMG91
b)
Nature of the transaction
Grant of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
45,207
d)
Aggregated information
- Aggregated volume
- Price
N/A - single transactione)
Date of the transaction
21 April 2021
f)
Place of the transaction
London Stock Exchange, AIM
Further enquiries, please contact:
Strix Group Plc
Mark Bartlett, CEO
Raudres Wong, CFO
+44 (0) 1624 829829
Zeus Capital Limited (Nominated Advisor and Joint Broker)
Nick Cowles / Jamie Peel / Jordan Warburton (Corporate Finance)
+44 (0) 20 3829 5000
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 is admitted to trading on the AIM Market of the London Stock Exchange (AIM: KETL).
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