REG - Volex PLC - Grant of LTIP Share Options
RNS Number : 4349JVolex PLC21 December 2020
21 December 2020
Volex plc
("Volex" or the "Company")
Grant of LTIP Share Options to PDMRs
Volex plc (AIM:VLX), the global supplier of integrated manufacturing services and power products, today announces that certain PDMRs were granted nil-cost options over ordinary shares of 25 pence each in the Company (the "Shares") on 18 December 2020 by the Company's Remuneration Committee under the Company's Long Term Incentive Plan ("LTIP").
FY2021 Long Term Incentive Share Awards
The following options were granted over the Company's Shares:
PDMR
Position
Number of LTIP Options Granted
Nat Rothschild
Executive Chairman
240,000
Jon Boaden
John Molloy
Chief Financial Officer
Chief Operating Officer
115,000
130,000
The LTIP scheme, which replaced the expired Volex Group plc Performance Share Plan 2009 ("PSP"), was formally approved by the board of directors and the Company's shareholders at the AGM held on 30 July 2019. In line with the LTIP rules, these senior management options will vest and become exercisable after three years, subject to performance conditions being met relating to profit and relative total shareholder return ("TSR") targets and to the recipient's continued employment with the Company. The awards are also subject to a maximum 2x multiplier in the event of exceptional performance relating to absolute TSR. The awards also include provisions requiring retention of the shares for an additional period and for clawback of awards in specific circumstances. Exercise of the options may be satisfied by the transfer of new-issue shares, treasury shares or shares purchased for that purpose in the open market by the Company and/or an employee trust.
Following these awards, the Company's PDMRs will hold unvested and/or unexercised options over an aggregate of Shares under the previous PSP (FY2018 and FY2019) and the new LTIP (FY2020 and FY2021) as set out below:
PDMR
Position
Number of Options
Nat Rothschild
Executive Chairman
1,270,000
Jon Boaden
John Molloy
Chief Financial Officer
Chief Operating Officer
340,000
1,550,000
This announcement is made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation No 596/2014.
For further information please contact:
Volex plc
+44 (0)7747 488 785
Nat Rothschild, Executive Chairman
Jon Boaden, Chief Financial Officer
N+1 Singer - Nominated Adviser & Joint Broker
+44 (0)20 7496 3000
Shaun Dobson
Iqra Amin
Panmure Gordon - Joint Broker
+44 (0)20 7886 2500
Hugh Rich
Powerscourt - Media Enquiries
+44 (0)20 7250 1446
James White
Jack Holden
NOTIFICATION OF TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED
1
Details of the Director / person discharging managerial responsibilities / person closely associated
a)
Name
Nat Rothschild
2
Reason for the notification
a)
Position/status
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 25 pence Shares
Identification code
GB0009390070
b)
Nature of the transactions
Grant of LTIP Options
c)
Price(s) and volume(s)
Nil - 240,000
d)
Aggregated information
- Aggregated volume
See 4 c) above
- Price
See 4 c) above
e)
Date of the transactions
18 December 2020
f)
Place of the transactions
Outside a trading venue
NOTIFICATION OF TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED
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
Ordinary 25 pence Shares
Identification code
GB0009390070
b)
Nature of the transactions
Grant of LTIP Options
c)
Price(s) and volume(s)
Nil - 115,000
d)
Aggregated information
- Aggregated volume
See 4 c) above
- Price
See 4 c) above
e)
Date of the transactions
18 December 2020
f)
Place of the transactions
Outside a trading venue
NOTIFICATION OF TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED
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
Ordinary 25 pence Shares
Identification code
GB0009390070
b)
Nature of the transactions
Grant of LTIP Options
c)
Price(s) and volume(s)
Nil - 130,000
d)
Aggregated information
- Aggregated volume
See 4 c) above
- Price
See 4 c) above
e)
Date of the transactions
18 December 2020
f)
Place of the transactions
Outside a trading venue
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