REG - Volex PLC - Director/PDMR Shareholding

VolexAnnouncement

30/01/2026 16:30

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RNS Number : 1653R  Volex PLC  30 January 2026

30 January 2026

Volex plc

("Volex" or the "Company")

Director / PDMR Dealing

Volex plc (AIM:VLX) announces that on 27 January 2026 the following
directors/persons discharging managerial responsibility ("PDMRs") were granted
nil-cost options (the "LTIP Awards") over ordinary shares of 25 pence each in
the capital of the Company (the "Shares") under the Company's Long Term
Incentive Plan.

  PDMR            Position                 Number of LTIP Awards
 Lord Rothschild  Chief Executive Officer  616,740
 John Molloy      Chief Operating Officer  528,634
 Jon Boaden       Chief Financial Officer  440,528

 

The performance targets for the LTIP Awards are based on achieving and
outperforming the Company's new five-year plan, which will be announced
alongside a capital markets event to be hosted in April 2026 (the "New Plan").

In addition to the above-named PDMRs, a small number of senior leaders within
the business, who are expected to make a significant contribution to the
delivery of the New Plan, have been granted awards, totalling in aggregate, a
maximum of 1,550,000 LTIP Awards.  This will align the senior team with the
strategy and provide an important retention mechanism over the duration of the
New Plan period.

Consistent with the last 5-year LTIP award granted in December 2022, rather
than receiving annual awards, participants have received a single cumulative
award that reflects the fact that further LTIP awards will not be granted to
these participants until at least FY2029.

In the ordinary course, if the performance targets are met, up to 50% of the
Shares subject to the LTIP Awards will vest and become exercisable on 31
December 2030 ("Tranche 1"), and the remaining number of Shares subject to the
LTIP Awards (including any that did not vest on 31 December 2030) will vest
and become exercisable on 31 December 2031 ("Tranche 2").  Vesting of the
LTIP Awards is subject to the individual's continuing employment with the
Company.

For each Tranche, the performance targets for the LTIP Awards will be weighted
as follows:

·    50% on the achievement of underlying operating profit targets;

·    25% on the achievement of return on capital employed targets; and

·    25% on the achievement of relative TSR targets.

These performance targets will be tested at the end of FY2030 and FY2031,
respectively.

Subject to the achievement of significant absolute TSR growth by the end of
FY2030 and FY2031 respectively, the number of LTIP Awards granted to the
above-named PDMRs could be increased by up to 50%.  The threshold for the
additional LTIP Awards requires average annual TSR growth of 15%, resulting in
an additional 30% uplift to the LTIP Awards.  The full additional 50% uplift
to the LTIP Awards will vest on achievement of an average annual TSR growth of
25%.  Where the Company's average yearly TSR growth is between the Target and
Stretch, as set out below, there will be a straight-line vesting of between
30% and 50% for the LTIP Awards between these points.

 Performance level    Average TSR growth     Number of additional Shares available for vesting (as a percentage of the
                                             total LTIP Awards)
 Below target         <15% per annum         0%
 Target               15% per annum          30%
 At or above Stretch  25% or more per annum  50%

 

Following the grant of these LTIP Awards, the aggregate number of Shares which
have been or may be issued in connection with awards granted during the
previous ten years under the LTIP, together with any other employee share plan
adopted by the Company, will not exceed 10% of the Company's issued share
capital.

 

 For further information please contact:

 Volex plc                                                     +44 (0) 1256 442570
 Lord Rothschild, Chief Executive Officer                      investor.relations@volex.com
 Jon Boaden, Chief Financial Officer
 Chris Bedford, Group General Counsel & Company Secretary

 Peel Hunt LLP - Nominated Adviser & Joint Broker              +44 (0) 20 7418 8900
 Ed Allsopp
 Dom Convey
 Tom Graham

 Jeffries - Joint Broker                                       +44 (0) 20 7029 8000
 Philip Noblet
 Sam Barnett
 Harry Le May

 Sodali & Co. - Media Enquiries                                +44 (0) 20 7250 1446
 James White
 Nicholas Johnson

 

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

 1   Details of the Director / person discharging managerial responsibilities /
     person closely associated
 a)  Name                                                           Nat Rothschild
 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                                                           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    Options over ordinary shares of 25 pence each
     Identification code                                            GB0009390070
 b)  Nature of the transaction                                      Grant of options under the Volex plc Long Term Incentive Plan
 c)  Price(s) and volume(s)                                         Volume   Price
                                                                    1)  616,740  £nil

 d)  Aggregated information
     - Aggregated volume                                            n/a - single transaction
     - Aggregated price
 e)  Date of the transaction                                        27 January 2026
 f)  Place of the transaction                                       Outside a trading venue

d)

Aggregated information

- Aggregated volume

n/a - single transaction

- Aggregated price

e)

Date of the transaction

27 January 2026

f)

Place of the transaction

Outside a trading venue

 

 1   Details of the Director / person discharging managerial responsibilities /
     person closely associated
 a)  Name                                                           John Molloy
 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                                                           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    Options over ordinary shares of 25 pence each
     Identification code                                            GB0009390070
 b)  Nature of the transaction                                      Grant of options under the Volex plc Long Term Incentive Plan
 c)  Price(s) and volume(s)                                         Volume   Price
                                                                    1)  528,634  £nil

 d)  Aggregated information
     - Aggregated volume                                            n/a - single transaction
     - Aggregated price
 e)  Date of the transaction                                        27 January 2026
 f)  Place of the transaction                                       Outside a trading venue

d)

Aggregated information

- Aggregated volume

n/a - single transaction

- Aggregated price

e)

Date of the transaction

27 January 2026

f)

Place of the transaction

Outside a trading venue

 

 1   Details of the Director / person discharging managerial responsibilities /
     person closely associated
 a)  Name                                                           Jon Boaden
 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                                                           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    Options over ordinary shares of 25 pence each
     Identification code                                            GB0009390070
 b)  Nature of the transaction                                      Grant of options under the Volex plc Long Term Incentive Plan
 c)  Price(s) and volume(s)                                         Volume   Price
                                                                    1)  440,528  £nil

 d)  Aggregated information
     - Aggregated volume                                            n/a - single transaction
     - Aggregated price
 e)  Date of the transaction                                        27 January 2026
 f)  Place of the transaction                                       Outside a trading venue

d)

Aggregated information

- Aggregated volume

n/a - single transaction

- Aggregated price

e)

Date of the transaction

27 January 2026

f)

Place of the transaction

Outside a trading venue

 

 

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