TIDMVLX

RNS Number : 6214K

Volex PLC

22 December 2022

22 December 2022

Volex plc

("Volex" or the "Company")

Director / PDMR Dealing

Volex plc (AIM:VLX) announces that on 21 December 2022 the following directors/persons discharging managerial responsibility ("PDMRs") were granted nil-cost options (the "LTIP Awards") over ordinary shares of 25 pence each in the capital of the Company (the "Shares") under the Company's Long Term Incentive Plan.

 
 PDMR              Type of Award      Maximum Number of Shares 
 Nat Rothschild    Nil-cost option    950,000 
                  -----------------  ------------------------- 
 John Molloy       Nil-cost option    800,000 
                  -----------------  ------------------------- 
 Jon Boaden        Nil-cost option    475,000 
                  -----------------  ------------------------- 
 

The performance targets for the LTIP Awards are based on achieving and outperforming the five-year plan announced in June 2022, with half of the awards vesting in five years, and half in six years. In addition to the above named directors/PDMRs, a small number of senior leaders within the business who are expected to make a significant impact on delivering the Company's five-year plan will receive LTIP Awards over, in aggregate, a maximum of 1,480,000 Shares. This will align the senior team with the strategy and provide an important retention mechanism over the plan period.

Rather than receive an annual award this year and for the following two years, participants will receive a single cumulative award this year which is aligned to the performance targets of the five-year plan. The maximum number of Shares subject to the LTIP Awards reflects the fact that further awards will not be granted to participants in the next two years.

As noted above, in the ordinary course, 50% of the LTIP Awards will become exercisable on the fifth anniversary of the date of grant with the remaining 50% of the LTIP Awards exercisable on the sixth anniversary. Vesting of the LTIP Awards is subject to the individuals continuing employment with the Company and the satisfaction of annual underlying profit performance conditions based on the Company's five-year plan, measured in FY25, FY26 and FY27 respectively.

Following the grant of these awards, the aggregate number of Shares which have been or may be issued in connection with awards granted during the previous ten years under the LTIP, together with any other employee share plan adopted by the Company, will not exceed 10% of the Company's issued share capital.

The following disclosure is made in accordance with Article 19 of the UK version of the EU Market Abuse Regulation 596/2014 which has effect in English law by virtue of the European Union (Withdrawal) Act 2018:

 
 
 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                           Options over ordinary shares of 25 
        the financial                            pence each 
        instrument, type 
        of instrument 
        Identification 
        code 
====  =======================================  ====================================== 
 b)    Nature of the                            Grant of awards under the Volex plc 
        transaction                              Long Term Incentive Plan 
      =======================================  ====================================== 
  c)   Price(s) and                                 Price(s)           Volume(s) 
        volume(s) 
                                                     GBPnil              950,000 
====  =======================================  =================  =================== 
 d)    Aggregated information                   n/a - single transaction 
        - Aggregated 
        volume 
        - Price 
      =======================================  ====================================== 
 e)    Date of the transaction                  21 December 2022 
====  =======================================  ====================================== 
 f)    Place of the                             Outside a trading venue 
        transaction 
      =======================================  ====================================== 
 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
      =========================================================================== 
 a)    Name                                 John Molloy 
====  ===================================  ====================================== 
 2     Reason for the notification 
      =========================================================================== 
 a)    Position/status                      PDMR, 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                       Options over ordinary shares of 25 
        the financial                        pence each 
        instrument, type 
        of instrument 
        Identification 
        code 
====  ===================================  ====================================== 
 b)    Nature of the                        Grant of awards under the Volex plc 
        transaction                          Long Term Incentive Plan 
      ===================================  ====================================== 
  c)   Price(s) and                             Price(s)            Volume(s) 
        volume(s) 
                                                  GBPnil             800,000 
====  ===================================  ==================  ================== 
 d)    Aggregated information               n/a - single transaction 
        - Aggregated 
        volume 
        - Price 
      ===================================  ====================================== 
 e)    Date of the transaction              21 December 2022 
====  ===================================  ====================================== 
 f)    Place of the                         Outside a trading venue 
        transaction 
      ===================================  ====================================== 
 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
      =========================================================================== 
 a)    Name                                 Jon Boaden 
====  ===================================  ====================================== 
 2     Reason for the notification 
      =========================================================================== 
 a)    Position/status                      PDMR, 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                       Options over ordinary shares of 25 
        the financial                        pence each 
        instrument, type 
        of instrument 
        Identification 
        code 
====  ===================================  ====================================== 
 b)    Nature of the                        Grant of awards under the Volex plc 
        transaction                          Long Term Incentive Plan 
      ===================================  ====================================== 
  c)   Price(s) and                             Price(s)            Volume(s) 
        volume(s) 
                                                  GBPnil             475,000 
====  ===================================  ==================  ================== 
 d)    Aggregated information               n/a - single transaction 
        - Aggregated 
        volume 
        - Price 
      ===================================  ====================================== 
 e)    Date of the transaction              21 December 2022 
====  ===================================  ====================================== 
 f)    Place of the                         Outside a trading venue 
        transaction 
      ===================================  ====================================== 
 

For further information please contact:

 
                                                 +44 (0)7971 156 
 Volex plc                                        431 
 Nat Rothschild, Executive Chairman 
 Jon Boaden, Chief Financial Officer 
 Christian Bedford, Group General Counsel and 
  Company Secretary 
 
 
 Singer Capital Markets - Nominated Adviser &    +44 (0)20 7496 
  Joint Broker                                    3000 
 Shaun Dobson 
 George Tzimas 
 
 
                                   +44 (0)20 7991 
 HSBC Bank plc - Joint Broker       8888 
 Simon Alexander 
 Joe Weaving 
 
 
                                    +44 (0)20 7250 
 Powerscourt - Media Enquiries       1446 
 James White 
 Nick Johnson 
 

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.

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

DSHBLLFLLLLBFBF

(END) Dow Jones Newswires

December 22, 2022 05:03 ET (10:03 GMT)

Grafico Azioni Volex (LSE:VLX)
Storico
Da Feb 2024 a Mar 2024 Clicca qui per i Grafici di Volex
Grafico Azioni Volex (LSE:VLX)
Storico
Da Mar 2023 a Mar 2024 Clicca qui per i Grafici di Volex