Volex PLC Exercise of options and sale of shares (3343A)

TIDMVLX

RNS Number : 3343A

Volex PLC

10 September 2018

Exercise of share options under the 2009 Volex plc Performance Share Plan

Volex plc ("Volex" or "the Company") announces that on 8 August 2018 Daren Morris, Chief Financial Officer, notified the Company to request that they instruct the Trustees of the Volex plc Employee Share Trust to exercise share options in accordance with the Rules of the 2009 Volex plc Performance Share Plan.

Following receipt of this notification, on the 6 September 2018 the Company instructed the Trustees accordingly, and on the 7 September 2018 the Volex plc Employee Share Trust sold 136,083 shares in order to satisfy the exercise of options issued to Daren Morris under the 2009 Volex plc Performance Share Plan.

All the options exercised had an exercise price of 25.0 pence per share and the shares sold had a sale price of 86.9 pence per share. Both the exercise and the subsequent sale were done through the Volex plc Employee Share Trust and there was no increase in share capital or change in Mr Morris' shareholding.

The net effect of the exercise and sale and the resultant holdings are shown in the table below:

 
 Director        Position           Holding pre-exercise   Change         Holding post-   Holding 
                                     and sale               in ordinary    exercise        % ISC 
                                                            shares         and sale 
--------------  -----------------  ---------------------  -------------  --------------  -------- 
                 Chief Financial 
 Daren Morris     Officer           502,647                0              502,647         0.3 
 

The below notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail.

 
 1.   Details of PDMR / person closely associated (PCA) 
 a)   Name                        Daren Morris 
     --------------------------  ------------------------------------------- 
 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)   Full name of the            Volex PLC 
       entity 
     --------------------------  ------------------------------------------- 
 b)   LEI                         213800HBLQNH5FXXGE63 
     --------------------------  ------------------------------------------- 
 4.   Details of the transaction(s) 
     ----------------------------------------------------------------------- 
 a)   Description of the          Ordinary Shares 
       financial instrument        GB0009390070 
       Identification Code 
     --------------------------  ------------------------------------------- 
 b)   Nature of the transaction   Exercise of options and subsequent 
                                   sale of shares 
     --------------------------  ------------------------------------------- 
 c)   Price(s) and volume(s)      Exercise of 136,083 options to acquire 
                                   shares at GBP0.25 per share and sale 
                                   of 136,083 of those shares at GBP0.869 
                                   per share 
     --------------------------  ------------------------------------------- 
 d)   Aggregated information      Exercise of 136,083 options to acquire 
                                   shares for a total of GBP34,021 at 
                                   GBP0.25 per share and sale of 136,083 
                                   of those shares for a total of GBP118,256 
                                   at GBP0.869 per share 
     --------------------------  ------------------------------------------- 
 e)   Date of the transaction     7 September 2018 
     --------------------------  ------------------------------------------- 
 f)   Place of the transaction    London Stock Exchange, AIM Market 
                                   (XLON) 
     --------------------------  ------------------------------------------- 
 

For further information, please contact:

Volex plc Tel: [phone]

Daren Morris, CFO

Liberum

   (Nominated Adviser & Sole Broker)              Tel: [phone] 

Steve Pearce

Euan Brown

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.

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September 10, 2018 13:23 ET (17:23 GMT)