Director/PDMR Dealings

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

Identification code

Ordinary Shares of 25 pence each

 

 

b)

Nature of the transaction

Exercise of awards under the Volex plc Performance Share Plan

c)

Price(s) and volume(s)

Price(s)

  25p per share

Volume(s)

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

Identification code

Ordinary Shares of 25 pence each

 

 

b)

Nature of the transaction

Exercise of awards under the Volex plc Performance Share Plans

c)

Price(s) and volume(s)

Price(s)

  25p per share

Volume(s)

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

Identification code

Ordinary Shares of 25 pence each

 

 

b)

Nature of the transaction

Grant of awards under the Volex plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

  £nil

Volume(s)

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

Identification code

Ordinary Shares of 25 pence each

 

 

b)

Nature of the transaction

Grant of awards under the Volex plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

  £nil

Volume(s)

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

Identification code

Ordinary Shares of 25 pence each

 

 

b)

Nature of the transaction

Grant of awards under the Volex plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

  £nil

Volume(s)

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 or visit 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.
 
END
 
 
DSHUVVVRUNUUAAR

Companies

Volex (VLX)
UK 100

Latest directors dealings