Director/PDMR Dealings

RNS Number : 7765B

Volex PLC

15 February 2022

 

Volex plc

("Volex" or the "Company")

Director/PDMR Dealings

Exercise of options

Volex plc (AIM:VLX) announces that it was notified on Monday 14 February 2022 that the following directors/persons discharging managerial responsibilities ('PDMRs') had exercised the following awards over (in aggregate) 1,080,000 ordinary shares in the capital of the Company granted to them under the Volex plc Performance Share Plan in FY2018 and FY2019 respectively (the 'PSP Awards').  The awards have an exercise price of 25p per share.  Details of the exercised PSP Awards are summarised below:

PDMR	Number of Shares	Financial Year of Grant
Nat Rothschild	340,000	FY2019
John Molloy	340,000	FY2019
John Molloy	400,000	FY2018

The PSP Awards will be satisfied using existing shares purchased in the market by the trustee of the Company's employee benefit trust.

Grant of options

Volex also announces that it was notified on Tuesday 15 February 2022 that the following directors/PDMRs were granted the following nil-cost awards ('the LTIP Awards') over ordinary shares in the capital of the Company (the 'Shares') under the Company's Long Term Incentive Plan.

PDMR	Type of Award	Number of Shares
Nat Rothschild	Nil-cost option	142,500
John Molloy	Nil-cost option	132,500
Jon Boaden	Nil-cost option	82,500

In the ordinary course, the LTIP Awards will vest and become exercisable on 7 December 2024, subject to the PDMRs continuing employment with the Company and the satisfaction of TSR performance conditions measured over FY22, FY23 and FY24.  If certain stretching conditions are met an absolute TSR performance multiplier will also apply, whereby if the Company achieves 100% growth in absolute TSR over the three year vesting period a multiplier of up to 2.5x will be applied to the Awards.  Following vesting, the Shares will be subject to a two-year holding period (net of tax).

This announcement is made in accordance with Article 19 of the UK version of the EU Market Abuse Regulation 596/2014 which has effect in English law by virtue of the European Union (Withdrawal) Act 2018.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Nat Rothschild
2	Reason for the notification
a)	Position/status	PDMR, Executive Chairman
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Volex PLC
b)	LEI	213800HBLQNH5FXXGE63
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 25 pence each
b)	Nature of the transaction	Exercise of awards under the Volex plc Performance Share Plan
c)	Price(s) and volume(s)	Price(s)   25p per share	Volume(s) 340,000
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	14 February 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	John Molloy
2	Reason for the notification
a)	Position/status	PDMR, 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	Volex PLC
b)	LEI	213800HBLQNH5FXXGE63
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 25 pence each
b)	Nature of the transaction	Exercise of awards under the Volex plc Performance Share Plans
c)	Price(s) and volume(s)	Price(s)   25p per share	Volume(s) 740,000
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	14 February 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Nat Rothschild
2	Reason for the notification
a)	Position/status	PDMR, Executive Chairman
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Volex PLC
b)	LEI	213800HBLQNH5FXXGE63
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 25 pence each
b)	Nature of the transaction	Grant of awards under the Volex plc Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s)   £nil	Volume(s) 142,500
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	15 February 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	John Molloy
2	Reason for the notification
a)	Position/status	PDMR, 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	Volex PLC
b)	LEI	213800HBLQNH5FXXGE63
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 25 pence each
b)	Nature of the transaction	Grant of awards under the Volex plc Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s)   £nil	Volume(s) 132,500
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	15 February 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jon Boaden
2	Reason for the notification
a)	Position/status	PDMR, 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	Volex PLC
b)	LEI	213800HBLQNH5FXXGE63
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 25 pence each
b)	Nature of the transaction	Grant of awards under the Volex plc Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s)   £nil	Volume(s) 82,500
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	15 February 2022
f)	Place of the transaction	Outside a trading venue

For further information please contact:

Volex plc	[phone]
Nat Rothschild, Executive Chairman
Jon Boaden, Chief Financial Officer
Christian Bedford, Group General Counsel and Company Secretary

Singer Capital Markets - Nominated Adviser & Joint Broker	[phone]
Shaun Dobson
George Tzimas

HSBC Bank plc - Joint Broker	[phone]
Simon Alexander
Joe Weaving

Powerscourt - Media Enquiries	[phone]
James White
Ollie Head

 

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