Volex PLC Director/PDMR Shareholding (7931X)

TIDMVLX

RNS Number : 7931X

Volex PLC

22 December 2023

Volex plc

("Volex" or the "Company")

Director / PDMR Shareholding

Volex plc (AIM: VLX) announces that on Wednesday 20 December 2023, Nat Rothschild, Executive Chairman, exercised a nil-cost award over ordinary shares of 25 pence each in the company ("Ordinary Shares") granted to him under the Volex plc Long Term Incentive Plan (the 'LTIP Award').

The LTIP Award was granted on 18 December 2020 subject to performance conditions being met relating to profit and relative total shareholder return ("TSR"). The Company's remuneration committee assessed the performance conditions and determined that 401,760 awards should be granted pursuant to the LTIP Award, and consequently, Nat Rothschild has exercised 401,760 LTIP Awards over Ordinary Shares.

The LTIP Award will be satisfied using existing shares purchased in the market by the trustee of the Company's employee benefit trust. In accordance with the rules of the LTIP, the Ordinary Shares acquired on exercise will be subject a two-year holding period expiring 18 December 2025.

Following the exercise of the LTIP Award, Nat Rothschild(1) is interested in 45,671,057 shares Ordinary Shares (save for unvested or unexercised awards), representing approximately 25.18 per cent. of the Company's issued share capital.

(1) Including those shares held through NR Holdings Ltd, of which Nat Rothschild is a beneficiary.

For further information please contact:

 
 Volex plc                              [phone] 
  Nat Rothschild, Executive Chairman     431 
  Jon Boaden, Chief Financial Officer    [e-mail] 
 
 
 Peel Hunt LLP - Nominated Adviser & 
  Joint Broker 
  Ed Allsopp 
  Tom Ballard                           [phone] 
  Ben Harrington                         8900 
 
 
 HSBC Bank plc - Joint Broker 
  Simon Alexander                [phone] 
  Joe Weaving                     8888 
 
 
 Powerscourt - Media Enquiries    [phone] 
  James White                      1446 
 

The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:

 
 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                      Initial Notification 
       /Amendment 
 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                            Ordinary Shares of 25 pence each 
       the financial 
       instrument, type 
       of instrument 
       Identification 
       code 
     ======================================== 
 b)   Nature of the                             Exercise of award granted under the Volex 
       transaction                               plc Long Term Incentive Plan to acquire 
                                                 ordinary shares 
 c)   Price(s) and volume(s)                          Price(s)              Volume(s) 
                                                        GBPnil                401,760 
     ========================================  ===================== 
 d)   Aggregated information 
       - Aggregated volume 
       - Price                                    401,760 
                                                  GBPnil 
 e)   Date of the transaction                   20 December 2023 
     ======================================== 
 f)   Place of the transaction                  Outside a trading venue 
===  ========================================  ============================================ 
 

About Volex

Volex plc (AIM: VLX) is a global leader in integrated manufacturing for performance-critical applications and a supplier of power products. We serve a diverse range of markets and customers, with particular expertise in cable assemblies, higher-level assemblies, data centre power and connectivity, electric vehicles, and consumer electricals. We are headquartered in the UK and operate from 27 manufacturing locations with a global workforce of over 11,500 people across 24 countries. Our products are sold through our own locally based sales teams and through authorised distributor partners to Original Equipment Manufacturers ('OEMs') and Electronic Manufacturing Services ('EMS') companies worldwide. All of the products and services that we offer are integral to the increasingly complex digital world in which we live, providing power and connectivity from the most common household items to the most complex medical equipment. For more information, please visit www.volex.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHBLLFLXLLXFBB

(END) Dow Jones Newswires

December 22, 2023 06:00 ET (11:00 GMT)