Exercise and Grant of Options and Issue of Equity

RNS Number : 9561I

Strix Group PLC

21 April 2022

 

21 April 2022

Strix Group plc

("Strix" or the "Company")

Exercise of Options, Issue of Equity and Grant of Options

Strix Group Plc (AIM:KETL), the AIM quoted global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, announces the Company has today issued 734,608 new ordinary shares of £0.01 each ("Ordinary Shares") in the Company (the "Option Shares") pursuant to the exercise of options ("Options") under the Strix Group Plc Long Term Incentive Plan ("LTIP"). The Options were granted in May 2019 and April 2020 and vested and became exercisable from 21 April 2022 in accordance with the rules of the LTIP.

The Options were exercised by Mark Bartlett (Chief Executive Officer), Raudres Wong (Chief Financial Officer), Frank Gao (Chief Operating Officer), Harry Kyriacou (Chief Commercial Officer) and other employees.

Following the exercise of the options, the below directors and PDMRs have the following interests in the share capital of the Company:

Director / PDMR	Position	Ordinary Shares held previously	% of total issued share capital	Number of Ordinary Shares over which options exercised	Resulting total number of Ordinary Shares held	% of enlarged issued share capital
Mark Bartlett	Chief Executive Officer	2,545,127	1.23%	66,860	2,611,987	1.26%
Raudres Wong1	Chief Financial Officer	1,824,275	0.88%	66,142	1,890,417	0.91%
Frank Gao	Chief Operating Officer	-	-	37,878	37,878	0.02%
Harry Kyriacou	Chief Commercial Officer	-	-	97,133	97,133	0.05%
TOTAL		4,369,402	2.11%	268,013	4,637,415	2.24%

¹ Shares held in the name of her husband, Wing Yip Fong

Admission and Total voting rights

Strix has made application to the London Stock Exchange for the issue of securities in respect of 734,608 new Ordinary Shares to be admitted to trading on AIM in relation to the exercise of the Option Shares and it is expected that admission will become effective on 22 April 2022.

Following the admission of the new Ordinary Shares pursuant to the exercise of share options and the issue of equity, the Company's issued share capital will comprise 207,406,554 Ordinary Shares and may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.

Grant of Options

Strix also announces that it granted options today over a total of 590,967 Ordinary Shares under the LTIP.

Included within the 590,967 options granted are the following to Directors and PDMRs of the Company as part of their annual remuneration and incentivisation packages:

Director / PDMR	Position	Number of options granted	Total number of unvested share options held
Mark Bartlett	Chief Executive Officer	148,760	496,893
Raudres Wong	Chief Financial Officer	131,262	434,915
Frank Gao	Chief Operating Officer	76,446	249,463
Harry Kyriacou	Chief Commercial Officer	54,236	175,360
TOTAL		410,704	1,329,631

In addition to the options awarded to Directors and PDMR's, 180,263 options have been awarded to the Company's trading board. All options have been granted at nil cost and for those granted to the Company's trading board these are subject to performance conditions as determined by the Company's Remuneration Committee.

Following these grants the total number of options over Ordinary Shares in issue is 2,386,016 representing 1.2 per cent. of the issued share capital of the Company.

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

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Bartlett
2	Reason for the notification
a)	Position/status	CEO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Strix Group plc
b)	LEI	213800KZEW5W6BZMNT62
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 £0.01 ISIN: IM00BF0FMG91
b)	Nature of the transaction	Exercise of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 66,860
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Raudres Wong
2	Reason for the notification
a)	Position/status	CFO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Strix Group plc
b)	LEI	213800KZEW5W6BZMNT62
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 £0.01 ISIN: IM00BF0FMG91
b)	Nature of the transaction	Exercise of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 66,142
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Frank Gao
2	Reason for the notification
a)	Position/status	COO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Strix Group plc
b)	LEI	213800KZEW5W6BZMNT62
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 £0.01 ISIN: IM00BF0FMG91
b)	Nature of the transaction	Exercise of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 37,878
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Harry Kyriacou
2	Reason for the notification
a)	Position/status	CCO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Strix Group plc
b)	LEI	213800KZEW5W6BZMNT62
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 £0.01 ISIN: IM00BF0FMG91
b)	Nature of the transaction	Exercise of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 97,133
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Bartlett
2	Reason for the notification
a)	Position/status	CEO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Strix Group Plc
b)	LEI	213800KZEW5W6BZMNT62
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 £0.01 ISIN: IM00BF0FMG91
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 148,760
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Raudres Wong
2	Reason for the notification
a)	Position/status	CFO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Strix Group Plc
b)	LEI	213800KZEW5W6BZMNT62
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 £0.01 ISIN: IM00BF0FMG91
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 131,262
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Frank Gao
2	Reason for the notification
a)	Position/status	COO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Strix Group Plc
b)	LEI	213800KZEW5W6BZMNT62
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 £0.01 ISIN: IM00BF0FMG91
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 76,446
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Harry Kyriacou
2	Reason for the notification
a)	Position/status	CCO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Strix Group Plc
b)	LEI	213800KZEW5W6BZMNT62
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 £0.01 ISIN: IM00BF0FMG91
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 54,236
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2022
f)	Place of the transaction	London Stock Exchange, AIM

Further enquiries, please contact:

Strix Group Plc Mark Bartlett, CEO Raudres Wong, CFO	[phone]
Zeus (Nominated Adviser and Joint Broker) Nick Cowles / Jamie Peel / Jordan Warburton (Investment Banking)	[phone]
Stifel Nicolaus Europe Limited (Joint Broker)	[phone]
Matthew Blawat / Francis North
IFC Advisory Limited (Financial PR and IR)	[phone]
Graham Herring / Tim Metcalfe / Florence Chandler

ABOUT STRIX GROUP PLC

Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.

Strix's core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly. Strix has built up market leading capability and know-how in this field since being founded in 1982.

Strix is admitted to trading on the AIM Market of the London Stock Exchange (AIM: KETL).

 

END

 

 

IOEFLFESSIILFIF