Volex PLC Acquisition Share Incentive Awards and TVR (9968E)
13 Luglio 2021 - 08:00AM
UK Regulatory
TIDMVLX
RNS Number : 9968E
Volex PLC
13 July 2021
13 July 2021
Volex plc
("Volex" or the "Company")
Acquisition Share Incentive Awards and TVR
Further to the announcements dated 30 July 2019 and 2 March 2020
regarding the acquisition of Servatron, Inc ("Servatron"), Volex
plc (AIM:VLX) is pleased to confirm that Servatron has exceeded the
operating profit targets for the year ended 31 December 2020. As a
result, under the acquisition retention award scheme agreed as part
of that acquisition, 1,000,000 ordinary shares of 25 pence each
("Ordinary Shares") are due to former owners and senior employees
of Servatron. Additionally, the second tranche of the deferred
consideration of $1.73m due to the former owners and senior
employees of Servatron has also been paid.
In addition, further to the announcement on 11 December 2018
regarding the acquisition of GTK (Holdco) Limited ("GTK"), Volex is
pleased to announce that GTK has exceeded the operating profit
targets for the third consecutive financial period. As a result,
under the acquisition retention award scheme agreed as part of that
acquisition, 666,668 Ordinary Shares are due to the former owners
and senior managers of GTK.
The Volex board has, therefore, approved the issue of 1,666,668
Ordinary Shares to satisfy the vesting of the share awards granted
to the senior employees and/or former owners of Servatron and
GTK.
Application will be made to the London Stock Exchange for the
new Ordinary Shares to be admitted to AIM, with the admission date
expected to be 16 July 2021. On admission, the new Ordinary Shares
will rank pari passu in all respects with the existing Ordinary
Shares of the Company. The Company's total issued share capital
following admission will consist of 158,718,709 Ordinary Shares of
25 pence each with one voting right per share. This figure may be
used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
share capital of the Company.
For further information please contact:
+44 (0)7971 1 56
Volex plc 431
Nat Rothschild, Executive Chairman
Jon Boaden, Chief Financial Officer
Christian Bedford, Group General Counsel
& Company Secretary
Singer Capital Markets - Nominated Adviser +44 (0)20 7496
& Joint Broker 3000
Shaun Dobson
Iqra Amin
James Fischer
+44 (0)20 7991
HSBC Bank Plc - Joint Broker 8888
Simon Alexander
Joe Weaving
+ 44 (0)20 7250
Powerscourt - Media Enquiries 1446
James White
Jack Holden
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END
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