REG - Volex PLC - Director/PDMR Dealings

VolexAnnouncement

15/02/2022 16:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220215:nRSO7765Ba&default-theme=true

RNS Number : 7765B  Volex PLC  15 February 2022

Volex plc

("Volex" or the "Company")

Director/PDMR Dealings

Exercise of options

Volex plc (AIM:VLX) announces that it was notified on Monday 14 February 2022
that the following directors/persons discharging managerial responsibilities
('PDMRs') had exercised the following awards over (in aggregate) 1,080,000
ordinary shares in the capital of the Company granted to them under the Volex
plc Performance Share Plan in FY2018 and FY2019 respectively (the 'PSP
Awards').  The awards have an exercise price of 25p per share.  Details of
the exercised PSP Awards are summarised below:

 PDMR            Number of Shares  Financial Year of Grant
 Nat Rothschild  340,000           FY2019
 John Molloy     340,000           FY2019
 John Molloy     400,000           FY2018

 

The PSP Awards will be satisfied using existing shares purchased in the market
by the trustee of the Company's employee benefit trust.

Grant of options

Volex also announces that it was notified on Tuesday 15 February 2022 that the
following directors/PDMRs were granted the following nil-cost awards ('the
LTIP Awards') over ordinary shares in the capital of the Company (the
'Shares') under the Company's Long Term Incentive Plan.

 

 PDMR            Type of Award    Number of Shares
 Nat Rothschild  Nil-cost option  142,500
 John Molloy     Nil-cost option  132,500
 Jon Boaden      Nil-cost option  82,500

 

In the ordinary course, the LTIP Awards will vest and become exercisable on 7
December 2024, subject to the PDMRs continuing employment with the Company and
the satisfaction of TSR performance conditions measured over FY22, FY23 and
FY24.  If certain stretching conditions are met an absolute TSR performance
multiplier will also apply, whereby if the Company achieves 100% growth in
absolute TSR over the three year vesting period a multiplier of up to 2.5x
will be applied to the Awards.  Following vesting, the Shares will be subject
to a two-year holding period (net of tax).

 

This announcement is made in accordance with Article 19 of the UK version of
the EU Market Abuse Regulation 596/2014 which has effect in English law by
virtue of the European Union (Withdrawal) Act 2018.

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Nat Rothschild
 2   Reason for the notification
 a)  Position/status                                              PDMR, Executive Chairman
 b)  Initial notification /Amendment                              Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Volex PLC
 b)  LEI                                                          213800HBLQNH5FXXGE63
 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 25 pence each

     Identification code

 b)  Nature of the transaction                                    Exercise of awards under the Volex plc Performance Share Plan
 c)  Price(s) and volume(s)                                       Price(s)                                     Volume(s)

                                                                                 25p per share                 340,000
 d)  Aggregated information

     - Aggregated volume

     - Price                                                      N/A - single transaction
 e)  Date of the transaction                                      14 February 2022
 f)  Place of the transaction                                     Outside a trading venue

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         John Molloy
 2   Reason for the notification
 a)  Position/status                                              PDMR, 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                                                         Volex PLC
 b)  LEI                                                          213800HBLQNH5FXXGE63
 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 25 pence each

     Identification code

 b)  Nature of the transaction                                    Exercise of awards under the Volex plc Performance Share Plans
 c)  Price(s) and volume(s)                                       Price(s)                                     Volume(s)

                                                                                 25p per share                 740,000
 d)  Aggregated information

     - Aggregated volume

     - Price                                                      N/A - single transaction
 e)  Date of the transaction                                      14 February 2022
 f)  Place of the transaction                                     Outside a trading venue

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Nat Rothschild
 2   Reason for the notification
 a)  Position/status                                              PDMR, Executive Chairman
 b)  Initial notification /Amendment                              Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Volex PLC
 b)  LEI                                                          213800HBLQNH5FXXGE63
 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 25 pence each

     Identification code

 b)  Nature of the transaction                                    Grant of awards under the Volex plc Long Term Incentive Plan
 c)  Price(s) and volume(s)                                       Price(s)                             Volume(s)

                                                                                 £nil                  142,500
 d)  Aggregated information

     - Aggregated volume

     - Price                                                      N/A - single transaction
 e)  Date of the transaction                                      15 February 2022
 f)  Place of the transaction                                     Outside a trading venue

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         John Molloy
 2   Reason for the notification
 a)  Position/status                                              PDMR, 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                                                         Volex PLC
 b)  LEI                                                          213800HBLQNH5FXXGE63
 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 25 pence each

     Identification code

 b)  Nature of the transaction                                    Grant of awards under the Volex plc Long Term Incentive Plan
 c)  Price(s) and volume(s)                                       Price(s)                             Volume(s)

                                                                                 £nil                  132,500
 d)  Aggregated information

     - Aggregated volume

     - Price                                                      N/A - single transaction
 e)  Date of the transaction                                      15 February 2022
 f)  Place of the transaction                                     Outside a trading venue

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Jon Boaden
 2   Reason for the notification
 a)  Position/status                                              PDMR, 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                                                         Volex PLC
 b)  LEI                                                          213800HBLQNH5FXXGE63
 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 25 pence each

     Identification code

 b)  Nature of the transaction                                    Grant of awards under the Volex plc Long Term Incentive Plan
 c)  Price(s) and volume(s)                                       Price(s)                             Volume(s)

                                                                                 £nil                  82,500
 d)  Aggregated information

     - Aggregated volume

     - Price                                                      N/A - single transaction
 e)  Date of the transaction                                      15 February 2022
 f)  Place of the transaction                                     Outside a trading venue

 

For further information please contact:

 Volex plc                                                       +44 (0)7971 156 431
 Nat Rothschild, Executive Chairman
 Jon Boaden, Chief Financial Officer
 Christian Bedford, Group General Counsel and Company Secretary

 

 Singer Capital Markets - Nominated Adviser & Joint Broker      +44 (0)20 7496 3000
 Shaun Dobson
 George Tzimas

 

 HSBC Bank plc - Joint Broker  +44 (0)20 7991 8888
 Simon Alexander
 Joe Weaving

 

 Powerscourt - Media Enquiries    +44 (0)20 7250 1446
 James White
 Ollie Head

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHUVVVRUNUUAAR