Exercise of Options and Issue of Equity

RNS Number : 0979W

Strix Group PLC

21 April 2021

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

21 April 2021

Strix Group plc

("Strix" or the "Company")

Exercise of Options, Issue of Equity and Grant of Options

Exercise of Options

Strix Group Plc (AIM: KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water products used in temperature control, steam management and water filtration, announces that today Mark Bartlett, Chief Executive officer, Raudres Wong, Chief Financial Officer and Frank Gao, Chief Operating Officer, exercised share options over 110,878, 102,075 and 46,173 ordinary shares of £0.01 each ("Ordinary Shares") respectively. These share options were granted on 1 November 2018 under the Strix Group Plc Long Term Incentive Plan ("LTIP").

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	3,400,000	1.65%	110,878	3,510,878	1.70%
Raudres Wong1	Chief Financial Officer	2,200,000	1.07%	102,075	2,302,075	1.11%
Frank Gao	Chief Operating Officer	360,000	0.17%	46,173	406,173	0.20%
TOTAL		5,960,000	2.89%	259,126	6,219,126	3.01%

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

In addition, certain other employees of the Company have exercised share options over 352,161 Ordinary Shares.

Issue of Equity

Strix has made application to the London Stock Exchange for the issue of securities in respect of 611,287 new Ordinary Shares to be admitted to trading on AIM in relation to the exercise of these share options and it is expected that admission will become effective on 22 April 2021.

Total voting rights

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 206,496,375 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 1,027,736 Ordinary Shares under the Strix Group Plc Long Term Incentive Plan.

Included within the 1,027,736 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	123,995	519,531
Raudres Wong	Chief Financial Officer	107,593	499,920
Frank Gao	Chief Operating Officer	63,720	285,415
Harry Kyriacou	Chief Commercial Officer	45,207	277,036
TOTAL		340,515	1,581,902

Of the remaining 687,221 options granted, 87,221 have been awarded to members of the Company's trading board and 600,000 to other employees. 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. Those granted to other employees are subject to remaining in employment with the Company for two years post being granted or specific individual strategic objectives and will vest in two to three years depending on specific strategic targets being met.

Following these grants the total number of options over Ordinary Shares in issue is 3,593,131 representing 1.74 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 110,878
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2021
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 102,075
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2021
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 46,173
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2021
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	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	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 123,995
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2021
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	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	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 107,593
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2021
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	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	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 63,720
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2021
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	Chief Commercial Officer
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 45,207
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	21 April 2021
f)	Place of the transaction	London Stock Exchange, AIM

Further enquiries, please contact:

Strix Group Plc Mark Bartlett, CEO Raudres Wong, CFO	[phone]
Zeus Capital Limited (Nominated Advisor and Joint Broker) Nick Cowles / Jamie Peel / Jordan Warburton (Corporate Finance)	[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).

 

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