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Share Name Share Symbol Market Type Share ISIN Share Description
Volex Plc LSE:VLX London Ordinary Share GB0009390070 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.00 -0.87% 343.00 342.00 344.50 350.00 340.00 350.00 197,300 16:35:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 315.4 12.8 8.0 47.9 522

Volex PLC Grant of LTIP Share Options

21/12/2020 5:35pm

UK Regulatory (RNS & others)


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RNS Number : 4349J

Volex PLC

21 December 2020

21 December 2020

Volex plc

("Volex" or the "Company")

Grant of LTIP Share Options to PDMRs

Volex plc (AIM:VLX), the global supplier of integrated manufacturing services and power products, today announces that certain PDMRs were granted nil-cost options over ordinary shares of 25 pence each in the Company (the "Shares") on 18 December 2020 by the Company's Remuneration Committee under the Company's Long Term Incentive Plan ("LTIP").

FY2021 Long Term Incentive Share Awards

The following options were granted over the Company's Shares:

 
 
   PDMR              Position              Number of LTIP Options 
                                           Granted 
 Nat Rothschild    Executive Chairman    240,000 
                   Chief Financial 
 Jon Boaden         Officer              115,000 
                    Chief Operating 
  John Molloy        Officer              130,000 
 

The LTIP scheme, which replaced the expired Volex Group plc Performance Share Plan 2009 ("PSP"), was formally approved by the board of directors and the Company's shareholders at the AGM held on 30 July 2019. In line with the LTIP rules, these senior management options will vest and become exercisable after three years, subject to performance conditions being met relating to profit and relative total shareholder return ("TSR") targets and to the recipient's continued employment with the Company. The awards are also subject to a maximum 2x multiplier in the event of exceptional performance relating to absolute TSR. The awards also include provisions requiring retention of the shares for an additional period and for clawback of awards in specific circumstances. Exercise of the options may be satisfied by the transfer of new-issue shares, treasury shares or shares purchased for that purpose in the open market by the Company and/or an employee trust.

Following these awards, the Company's PDMRs will hold unvested and/or unexercised options over an aggregate of Shares under the previous PSP (FY2018 and FY2019) and the new LTIP (FY2020 and FY2021) as set out below:

 
 
   PDMR              Position              Number of Options 
 Nat Rothschild    Executive Chairman    1 ,270,000 
                   Chief Financial 
 Jon Boaden         Officer              3 40,000 
                    Chief Operating 
  John Molloy        Officer              1,550,000 
 

This announcement is made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation No 596/2014.

For further information please contact:

 
                                        +44 (0)7747 488 
 Volex plc                               785 
 Nat Rothschild, Executive Chairman 
 Jon Boaden, Chief Financial Officer 
 
 
 N+1 Singer - Nominated Adviser & Joint Broker    +44 (0)20 7496 3000 
 Shaun Dobson 
 Iqra Amin 
 
 
 Panmure Gordon - Joint Broker      +44 (0)20 7886 2500 
 Hugh Rich 
 
                                      + 44 (0)20 7250 
   Powerscourt - Media Enquiries      1446 
 James White 
 Jack Holden 
 

NOTIFICATION OF TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED

 
 1    Details of the Director / person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                                    Nat Rothschild 
     --------------------------------------  ----------------------------------- 
 2    Reason for the notification 
     --------------------------------------------------------------------------- 
 a)   Position/status                         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 the                      Ordinary 25 pence Shares 
       financial instrument, 
       type of instrument 
      Identification code                     GB0009390070 
 b)   Nature of the transactions              Grant of LTIP Options 
 c)   Price(s) and volume(s)                  Nil - 240,000 
 
 d)   Aggregated information 
      - Aggregated volume                     See 4 c) above 
      - Price                                 See 4 c) above 
 e)   Date of the transactions                18 December 2020 
 f)   Place of the transactions               Outside a trading venue 
     --------------------------------------  ----------------------------------- 
 

NOTIFICATION OF TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED

 
 1    Details of the Director / person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                                    Jon Boaden 
     --------------------------------------  ----------------------------------- 
 2    Reason for the notification 
     --------------------------------------------------------------------------- 
 a)   Position/status                         Chief Financial Officer 
     --------------------------------------  ----------------------------------- 
 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 the                      Ordinary 25 pence Shares 
       financial instrument, 
       type of instrument 
      Identification code                     GB0009390070 
 b)   Nature of the transactions              Grant of LTIP Options 
 c)   Price(s) and volume(s)                  Nil - 115,000 
 
 d)   Aggregated information 
      - Aggregated volume                     See 4 c) above 
      - Price                                 See 4 c) above 
 e)   Date of the transactions                18 December 2020 
 f)   Place of the transactions               Outside a trading venue 
     --------------------------------------  ----------------------------------- 
 

NOTIFICATION OF TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED

 
 1    Details of the Director / person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                                    John Molloy 
     --------------------------------------  ----------------------------------- 
 2    Reason for the notification 
     --------------------------------------------------------------------------- 
 a)   Position/status                         Chief Operating Officer 
     --------------------------------------  ----------------------------------- 
 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 the                      Ordinary 25 pence Shares 
       financial instrument, 
       type of instrument 
      Identification code                     GB0009390070 
 b)   Nature of the transactions              Grant of LTIP Options 
 c)   Price(s) and volume(s)                  Nil - 130,000 
 
 d)   Aggregated information 
      - Aggregated volume                     See 4 c) above 
      - Price                                 See 4 c) above 
 e)   Date of the transactions                18 December 2020 
 f)   Place of the transactions               Outside a trading venue 
     --------------------------------------  ----------------------------------- 
 

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 rns@lseg.com or visit www.rns.com.

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END

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December 21, 2020 12:35 ET (17:35 GMT)

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