Volex PLC Share Awards (2763Z)

TIDMVLX

RNS Number : 2763Z

Volex PLC

14 December 2017

Volex plc

14 December 2017

SHARE AWARDS

Volex plc ("Volex" or the "Company") a global provider of power and data cabling solutions, today announces that Persons Discharging Managerial Responsibilities ("PDMRs") were each recently granted share awards over ordinary shares of GBP0.25 each in the Company (the "Shares").

Performance Share Awards

Performance share awards were granted under the Volex Group plc Performance Share Plan 2009 (the "PSP Awards") over the Company's Shares as follows:

 
 
   Director or       Position              Number of PSP Awards 
   PDMR                                    Granted 
 Nat Rothschild    Executive Chairman    350,000 
                   Chief Financial 
 Daren Morris       Officer              700,000 
 

The PSP Awards vest after three years with 50% linked to an operating profit target and 50% linked to a relative total shareholder return target. In each case, the price payable for the acquisition of vested award shares is the nominal value of GBP0.25 per Share.

Following such awards, the PDMRs will hold options over an aggregate of Shares under the Performance Share Plan 2009 as set out below:

 
 
   Director or       Position              Number of PSP Awards 
   PDMR                                    Granted 
 Nat Rothschild    Executive Chairman    1,606,168 
                   Chief Financial 
 Daren Morris       Officer              2,319,057 
 

For further information please contact:

   Daren Morris, Volex plc                        + 44 (0)20 8017 3232 

This information is provided by RNS

The company news service from the London Stock Exchange

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December 14, 2017 02:01 ET (07:01 GMT)