Director/PDMR Shareholding

RNS Number : 7702R

Solid State PLC

02 July 2020

 

2 July 2020

Solid State plc

("Solid State", the "Group" or the "Company")

Exercise of options, Total Voting Rights and director dealing.

Solid State plc (AIM: SOLI), the AIM listed manufacturer of computing, power and communications products, and value added distributor of electronic components , announces that it has issued and allotted 16,000 ordinary shares of 5 pence each ("Ordinary Shares") to John L Macmichael  (Divisional MD) pursuant to the exercise of share options at 0.1 pence per share under the Company's LTIP EMI Option Agreement.

Accordingly, application has been made for the 16,000 new Ordinary Shares to be admitted to trading on AIM and it is expected that admission will take place on or about 8.00 a.m. on 6 July 2020 ("Admission").

In accordance with the Disclosure and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following this transaction its issued share capital will consist of 8,564,878 Ordinary Shares of 5 pence each of which 7,374 are held in Treasury. Therefore, the total number of voting rights in the Company is 8,557,504. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.  

The Company has been informed that on 1 July 2020, John L Macmichael  (Divisional MD), sold 16,000 Ordinary Shares at 520 pence per share.

Following the exercise and sale John L Macmichael  (Divisional MD) continues to hold 122,373 Ordinary Shares, representing 1.43%. of the Company's voting share capital.

The below notification made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mr John L Macmichael
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Solid State plc
b)	LEI	213800QUHS9QTN5T1P62
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 5p each GB0008237132
b)	Nature of the transaction	Sale
c)	Price(s) and volume(s) Exercise Sale	Price(s) Volume(s) 0.1p 520p 16,000 16,000
d)	Aggregated information - Aggregated exercise volume - Aggregated sale volume - Aggregated exercise price - Aggregated sale price	16,000 16,000 £16 £83,200
e)	Date of the transaction	1 July 2020
f)	Place of the transaction	London Stock Exchange, AIM

For further information please contact:

Solid State plc	01527 830 630
Gary Marsh - Chief Executive Peter James - Group Finance Director	[e-mail]
WH Ireland (Nominated Adviser & Joint Broker)	0117 945 3470
Mike Coe / Ed Allsopp (Corporate Finance) Jasper Berry / David Kilbourn (Corporate Broking / Sales)
finnCap (Joint Broker) Ed Frisby / Kate Bannatyne (Corporate Finance) Emily Morris / Rhys Williams (Corporate Broking / Sales)	020 7220 0500
Walbrook PR (Financial PR)	020 7933 8780
Tom Cooper / Paul Vann	0797 122 1972
	[e-mail]

Notes to Editors:

Solid State plc (SOLI) is a value added electronics group supplying industrial and military markets with ruggedised/durable components, assemblies and manufactured units for use in harsh environments.  The Group's mantra is - 'Trusted technology for demanding applications'.  To see an introductory video on the Group - https://youtu.be/bp4WfLCEc5Y  

Operating through two main divisions: Manufacturing (Steatite) and Value Added Distribution (Solid State Supplies & Pacer); the Group specialises in complex engineering challenges often requiring design-in support and component sourcing for computing, power, communications, electronic and optoelectronic products.

Headquartered in Redditch, Solid State employs over 200 staff across the UK with a branch office in the USA, serving specialist markets in oil & gas production, transportation, medical, construction, security, military and field maintenance. 

Solid State was established in 1971 and admitted to AIM in June 1996.  The Group has grown organically and by acquisition - having made 10 acquisitions.

 

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