Grant of LTIP Share Options

RNS Number : 1706M
Volex PLC
12 September 2019
 

 

12 September 2019

 

Volex plc

("Volex" or the "Company")

 

Grant of LTIP Share Options to PDMRs

 

Volex plc, the global supplier of complex assemblies for performance-critical applications and power products, announces that PDMRs were granted nil-cost options over ordinary shares of 25 pence each in the Company (the "Shares") on 10 September 2019 under the Company's new Long Term Incentive Plan ("LTIP").

 

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

340,000

Daren Morris

John Molloy

Chief Financial Officer

Chief Operating Officer

680,000

680,000

 

 

The new LTIP scheme, which replaces 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 total shareholder return targets and to the recipient's continued employment with the Company. The LTIP also includes 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 new LTIP scheme and the previous PSP as set out below:

 

 

PDMR

 

Position

 

Number of Options

Nat Rothschild

Executive Chairman

1,630,000

Daren Morris

John Molloy

Chief Financial Officer

Chief Operating Officer

2,720,000

1,915,256

 

This announcement is made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation No 596/2014.

 

Enquiries

For further information please contact: 

 

 

Volex plc                                                                                                            +44 7909 995 887

Nat Rothschild, Executive Chairman

Daren Morris, Chief Financial Officer and Company Secretary

 

N+1 Singer - Nominated Adviser & Joint Broker                                        +44 20 7496 3000

Shaun Dobson

 

Whitman Howard - Joint Broker                                                                    +44 20 7659 1234

Hugh Rich

Nick Lovering

 

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 - 340,000

 

 

d)

Aggregated information 

 

- Aggregated volume

See 4 c) above

- Price

See 4 c) above

e)

Date of the transactions

10 September 2019

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

Daren Morris

2

Reason for the notification

a)

Position/status

Chief Financial Officer and Company Secretary

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 - 680,000

 

 

d)

Aggregated information 

 

- Aggregated volume

See 4 c) above

- Price

See 4 c) above

e)

Date of the transactions

10 September 2019

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 - 680,000

 

 

d)

Aggregated information 

 

- Aggregated volume

See 4 c) above

- Price

See 4 c) above

e)

Date of the transactions

10 September 2019

f)

Place of the transactions

Outside a trading venue

 

 


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