Grant of LTIP Share Options

RNS Number : 4349J
Volex PLC
21 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

3 40,000

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

 

 

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
 
 
DSHFZMZZNMMGGZM

Companies

Volex (VLX)
UK 100

Latest directors dealings