Director/PDMR Share Dealing

RNS Number : 2877D

Inspecs Group PLC

02 March 2022

 

2 March 2022

Inspecs Group Plc

("Inspecs" the "Company" or "Group")

Director/PDMR Share Dealing

On 28 February 2022, the following options to acquire Ordinary Shares of 1 pence each in the capital of the Company ("Ordinary Shares") were granted under the Inspecs Long Term Incentive Plan 2020 ("LTIP") to Chris Kay, the Chief Financial Officer of the Group. The option entitles the optionholder to acquire 183,153 Ordinary Shares at an exercise price of 375 pence per Ordinary Share. The option vests on the 28 February 2025, being the third anniversary of grant, subject to the optionholder's continued employment with the Group.

1.  Details of the person discharging managerial responsibilities/person closely associated
a)  Name	Christopher Kay
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	Inspecs Group plc
b)  LEI	2138008Z4S4DHR6NE933
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 1 pence
b)  Identification code	GB00BK6JPP03
c)  Nature of the transaction	Grant of options over 183,153 ordinary shares with an exercise price of £3.75 per share under the Inspecs Long Term Incentive Plan
d)  Price(s) and volume(s)	Price(s) Volume(s) £3.75 183,153
e)  Aggregated information: i. Aggregated volume ii. price	N/A
f)  Date of the transaction	28 February 2022
g)  Place of the transaction	Outside a trading venue

For further information please contact:

Inspecs Group plc Robin Totterman (CEO) Chris Kay (CFO)	via FTI Consulting Tel: [phone]
Peel Hunt (Nominated Adviser and Broker) Adrian Trimmings Andrew Clark	Tel: [phone]
FTI Consulting (Financial PR) Alex Beagley Alice Newlyn Harriet Jackson	Tel: [phone]

About Inspecs Group plc

INSPECS is a Bath-based designer, manufacturer and distributor of eyewear frames and optically advanced spectacle lenses. The Group produces a broad range of frames and lenses, covering optical, sunglasses and safety, which are either "Branded" (either under licence or under the Group's own proprietary brands), or "OEM" (including private label on behalf of retail customers and un-branded).

INSPECS aims to be the leader in eyewear solutions through its vertically-integrated business model and has adopted a three pillar growth strategy to achieve this: (i) continue to grow organically; (ii) undertake further acquisitions (and drive value through leveraging the Group's internal capabilities); and (iii) extend the Group's manufacturing capacity.

The Group has completed a number of significant acquisitions since its IPO in February 2020. In December 2020, INSPECS acquired Eschenbach, a leading, global, eyewear supplier headquartered in Nuremberg, Germany, which includes the American company Tura. This followed the acquisition of lens maker Norville in July 2020, whereby INSPECS combined two heritage brands in British optical, Savile Row frame maker, and Norville lens maker, further enhancing its vertically integrated business model. In December 2021 the Group acquired Ego Eyewear, a design and licensing company which uses third party eyewear manufacturers to produce premium fashion brands, and BoDe, a distributor of optical and sunglasses frames principally to the German market.

INSPECS customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 70,000 points of sale.

INSPECS has operations across the globe: with offices in the UK, Portugal, Scandinavia, the US and China (Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China, the UK and Italy. With the acquisition of Eschenbach, the Group's international reach further extends across Europe and the American markets.

More information is available at: https://inspecs.com 

 

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