Director/PDMR Shareholding

RNS Number : 1215E

Solid State PLC

01 April 2011

 



1 April 2011

Solid State plc (the "Company")

Grant of Options

Solid State plc (AIM:SSP), the AIM listed supplier of battery products, specialist electronic components and industrial/rugged computers to the electronics market, announces that it has today allocated John Macmichael 88,085 share options to subscribe for new ordinary shares at a price of 94 pence per  share in accordance with the EMI Share Option contract dated 1 April 2011.

44,042 of these options will become exercisable once revenues at Solid State Supplies (the Company's specialist components division) reach, or exceed, £5 million per annum (based on the audited results for any year to 31 March) and the remaining 44,043 options will become exercisable once revenues at Solid State Supplies reach, or exceed, £6 million per annum.  For the year ended 31 March 2010, revenues at Solid State Supplies were £3.5 million and revenues for the six months ended 30 September 2010 were £2 million. 

For further information please contact:

Solid State plc

Gary Marsh - Chief Executive     01892 836 836

FoxDavies                                           020 3463 5010

(Nominated Adviser)

Philip Davies

Notes to Editors:

Solid State plc (SSP) is a leading value added group of companies providing specialist distribution, design-in and manufacturing services to those acquiring batteries, electronic components and industrial/rugged computing products for use in harsh environments. 

Serving niche markets in oil & gas production, medical, construction, security, military and field maintenance, Solid State acts as both a distributor to OEMs and bespoke manufacturer of specialist units to clients with complex requirements.

Headquartered in Paddock Wood in Kent, Solid State employs 75 staff across 3 sites.  Solid State operates through three main divisions: Solid State Supplies, Steatite and Rugged Systems.

Solid State was established in 1971 and admitted to AIM in June 1996.

 

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