Solid State PLC Directors' Subscriptions (9669T)

TIDMSOLI

RNS Number : 9669T

Solid State PLC

27 July 2022

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE EU REGULATION 596/2014 AS IT FORMS PART OF THE UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

27 July 2022

Solid State plc

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

Directors' Subscriptions

Solid State plc (AIM: SOLI), the specialist value added component supplier and design-in manufacturer of computing, power and communications products, is pleased to announce that pursuant to the Fundraising announced on 12 July 2022 and the release of the Company's results earlier today, the Directors of the Company have subscribed for 14,146 New Ordinary Shares at the same issue price as the Placing and Open Offer Shares of 1,025

pence.   Further details on the Directors' individual subscription are set out in the table below. 
 
                      Number of Director    Number of existing shares 
                      Subscription Shares     held by the Directors 
                        Subscribed for          as at 27 July 2022 
 Nigel Rogers                      1,951*                       4,400 
                    ---------------------  -------------------------- 
 Gary Marsh                           976                     280,892 
                    ---------------------  -------------------------- 
 Peter James                       2,439*                       3,205 
                    ---------------------  -------------------------- 
 Peter Magowan                      2,927                       4,000 
                    ---------------------  -------------------------- 
 Matthew Richards                   1,951                      10,376 
                    ---------------------  -------------------------- 
 Peter Haining                      1,951                      54,627 
                    ---------------------  -------------------------- 
 John Macmichael                    1,951                     122,491 
                    ---------------------  -------------------------- 
 Total                             14,146 
                    ---------------------  -------------------------- 
 

* shares to be held in their spouses name

The Directors' Subscriptions together with the Placing and Open Offer, as previously announced, are conditional on, amongst other matters, the passing of the Resolution at the General Meeting to be held on 29 July 2022 and upon the Placing and Open Offer Agreement between the Company, WH Ireland and finnCap becoming unconditional and not being terminated in accordance with its terms. A further notification regarding the Directors' Subscriptions will be made following Admission which is scheduled for 2 August 2022.

Definitions

Capitalised terms used in this announcement have the meanings given to them in the Circular, published on 13 July 2022, unless the context provides otherwise.

For further information please contact:

 
 Solid State plc                          01527 830 630 
 Gary Marsh - Chief Executive             [e-mail] 
  Peter James - Group Finance Director 
 
 WH Ireland (Nominated Adviser & 
  Joint Broker)                           0202 220 1666 
 Mike Coe / Sarah Mather (Corporate 
  Finance) 
  Fraser Marshall (Corporate Broking 
  / Sales) 
 
 finnCap (Joint Broker)                   020 7220 0500 
 Ed Frisby / Kate Bannatyne (Corporate 
  Finance) 
  Rhys Williams / Tim Redfern (Sales 
  / ECM) 
 
 Walbrook PR (Financial PR)               020 7933 8780 
 Tom Cooper / Paul Vann                   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 (SOLI) is a value added electronics group supplying commercial, industrial and military markets with durable components, assemblies and manufactured units for use in specialist and harsh environments. The Group's mantra is - 'Trusted technology for demanding applications'. To see an introductory video on the Group

-    https://bit.ly/3kzddx7 

Operating through two main divisions: Systems (Steatite & Active Silicon) and Components (Solid State Supplies, Pacer, Willow Technologies & AEC); the Group specialises in complex engineering challenges often requiring design-in support and component sourcing for computing, power, communications, electronic, electro-mechanical and opto-electronic products.

Headquartered in Redditch, UK, Solid State employs approximately 300 staff across UK and US, serving specialist markets in industrial, defence and security, transportation, medical and energy.

Solid State was established in 1971 and admitted to AIM in June 1996. The Group has grown organically and by acquisition - having made 12 acquisitions since 2002.

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July 27, 2022 10:00 ET (14:00 GMT)