Issue of Equity & Directors' Dealings

Solid State PLC

23 October 2024

 

23 October 2024

Solid State plc

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

Exercise of Options

Issue of Equity

&

Directors' Dealings

Solid State plc (AIM: SOLI), the specialist value added component supplier and design-in manufacturer of computing, power, and communications products, announces that on 18 October 2024, options over a total of 133,500 new ordinary shares of 5p each in Solid State Plc ("Ordinary Shares") were exercised under the Company's Enterprise Management Incentive Scheme and the Company's Long Term Incentive Plan by certain Directors.

The Company has also been notified that, to cover the costs associated with these exercises and to mitigate the potential Capital Gains Tax increase impact expected to be announced in the UK budget on 30 October 2024, 49,500 Ordinary Shares have been sold, in aggregate, by these Directors. Further details of these transactions are set out below.

Director	Type of Exercise (option scheme)	Number of options over new Ordinary Shares exercised	Total number of Ordinary Shares sold following exercise	Sale price per ordinary share
Gary Marsh (Chief Executive Officer)	EMI options	40,000	40,000	240p
Gary Marsh (Chief Executive Officer)	Long Term Incentive Plan	53,500	0	N/A
John Macmichael (Director)	EMI Options	40,000	9,500	240p

Furthermore, Gary Marsh has transferred 2,000 Ordinary Shares to his spouse, Laura Marsh, for nil consideration on 18 October, who subsequently sold 1,750 Ordinary Shares at a price of 221.5p per share, on 23 October.

Following these transactions, Gary Marsh and John Macmichael hold, together with their persons closely associated, 1,320,680 Ordinary Shares and 538,280 Ordinary Shares respectively. Both Directors will increase their respective shareholdings following this exercise.

Application has been made for the admission of the 133,500 new Ordinary Shares to trading on AIM. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares. It is expected that Admission will become effective and that dealings in the new Ordinary Shares will commence at 8.00 a.m. on 25 October 2024. 

Total Voting Rights

Following Admission, the Company's issued share capital will consist of 57,081,720 Ordinary Shares of which 35,980 Ordinary Shares are held in treasury. Therefore, the total number of voting rights in the Company is 57,045,740. 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 FCA's Disclosure Guidance and Transparency Rules.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gary Marsh
2	Reason for the notification
a)	Position/status	Chief Executive Officer
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	Exercise of options under the Company's Enterprise Management Incentive (EMI) Scheme
c)	Price(s) and volume(s)	Type Price(s) Volume(s) Exercise of options Exercise price of 0.0002p per share 40,000
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	18 October 2024
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gary Marsh
2	Reason for the notification
a)	Position/status	Chief Executive Officer
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	Exercise of options under the Company's Long Term Incentive Plan
c)	Price(s) and volume(s)	Type Price(s) Volume(s) Exercise of options Exercise price of 5p per share 53,500
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	18 October 2024
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gary Marsh
2	Reason for the notification
a)	Position/status	Chief Executive Officer
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 of ordinary shares
c)	Price(s) and volume(s)	Type Price(s) Volume(s) Sale of shares 240p 40,000
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	18 October 2024
f)	Place of the transaction	London Stock Exchange - AIMX

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gary Marsh
2	Reason for the notification
a)	Position/status	Chief Executive Officer
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	Transfer of ordinary shares to spouse for nil consideration
c)	Price(s) and volume(s)	Type Price(s) Volume(s) Transfer of shares Nil consideration 2,000
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	18 October 2024
f)	Place of the transaction	Outside a trading venue
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John 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	Exercise of options under the Company's Enterprise Management Incentive (EMI) Scheme
c)	Price(s) and volume(s)	Type Price(s) Volume(s) Exercise of options Exercise price of 0.0002p per share 40,000
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	18 October 2024
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John 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 of ordinary shares
c)	Price(s) and volume(s)	Type Price(s) Volume(s) Sale of shares 240p 9,500
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	18 October 2024
f)	Place of the transaction	London Stock Exchange - AIMX

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Laura Marsh
2	Reason for the notification
a)	Position/status	Wife of Gary Marsh, Chief Executive Officer of Solid State PLC
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	Acquisition of ordinary shares from spouse by way of transfer for nil consideration
c)	Price(s) and volume(s)	Type Price(s) Volume(s) Acquisition of shares Nil consideration 2,000
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	18 October 2024
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Laura Marsh
2	Reason for the notification
a)	Position/status	Wife of Gary Marsh, Chief Executive Officer of Solid State PLC
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 of ordinary shares
c)	Price(s) and volume(s)	Type Price(s) Volume(s) Sale of shares 221.5p per share 1,750
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	23 October 2024
f)	Place of the transaction	London Stock Exchange - AIMX

For further information please contact:

Solid State plc Gary Marsh - Chief Executive Peter James - Group Finance Director	Via Walbrook
Cavendish Capital Markets Limited (Nominated Adviser & Broker) Adrian Hadden / Callum Davidson (Corporate Finance) Jasper Berry / Tim Redfern (Sales / ECM)	020 7220 0500
Walbrook PR (Financial PR)                Tom Cooper / Nick Rome / Joe Walker	020 7933 8780 0797 122 1972 [e-mail]

Analyst Research Reports: For further analyst information and research see the Solid State plc website: https://solidstateplc.com/research/

Notes to Editors:

Solid State plc (AIM: SOLI) is a leading value-added electronics group supplying industrial and defence markets with durable components, assemblies and manufactured systems for use in critical applications, with a particular emphasis on harsh operational environments. Solid State's products are found around the world, from the ocean floor and into space, ensuring the smooth operation of systems that augment our everyday lives.

The Company has a core focus on industrial and ruggedised computing, battery power solutions, antennas, secure radio systems, imaging technologies, and electronic components & displays.

Operating through two divisions (Systems and Components) the Group thrives on complex engineering challenges, often requiring design-in support and component sourcing. Serving a wide range of industries, with a particular focus on defence, energy production, aerospace, environmental, oceanographic, industrial, robotics, medical, life sciences, and transportation, the Solid State trading brands have become synonymous with quality and reliability. The Group operates under the brands of Steatite, Solsta, Custom Power, Pacer, Active Silicon, Gateway and Durakool.

Solid State plc is headquartered in Redditch, UK, and employs over 400 people around the world. The business has seven production facilities in the UK and two in the USA. In total, including all office locations, the Group operates from 15 national and international sites.

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

Take a look at the videos below for more insight into the Solid State Group.

Introduction to Solid State - https://youtu.be/1M_Q_B1mYic

Why invest in Solid State? - https://youtu.be/ShmTz6005ws

 

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