Volex PLC Grant of LTIP Share Options (1706M)
12 Settembre 2019 - 3:47PM
UK Regulatory
TIDMVLX
RNS Number : 1706M
Volex PLC
12 September 2019
12 September 2019
Volex plc
("Volex" or the "Company")
Grant of LTIP Share Options to PDMRs
Volex plc, the global supplier of complex assemblies for
performance-critical applications and power products, announces
that PDMRs were granted nil-cost options over ordinary shares of 25
pence each in the Company (the "Shares") on 10 September 2019 under
the Company's new Long Term Incentive Plan ("LTIP").
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 340,000
Chief Financial
Daren Morris Officer 680,000
Chief Operating
John Molloy Officer 680,000
The new LTIP scheme, which replaces 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 total shareholder return targets and to the recipient's
continued employment with the Company. The LTIP also includes
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
new LTIP scheme and the previous PSP as set out below:
PDMR Position Number of Options
Nat Rothschild Executive Chairman 1,630,000
Chief Financial
Daren Morris Officer 2,720,000
Chief Operating
John Molloy Officer 1,915,256
This announcement is made in accordance with the requirements of
Article 19 of the EU Market Abuse Regulation No 596/2014.
Enquiries
For further information please contact:
Volex plc +44 7909 995 887
Nat Rothschild, Executive Chairman
Daren Morris, Chief Financial Officer and Company Secretary
N+1 Singer - Nominated Adviser & Joint Broker +44 20 7496
3000
Shaun Dobson
Whitman Howard - Joint Broker +44 20 7659 1234
Hugh Rich
Nick Lovering
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 - 340,000
d) Aggregated information
- Aggregated volume See 4 c) above
- Price See 4 c) above
e) Date of the transactions 10 September 2019
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 Daren Morris
--------------------------- ----------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Chief Financial Officer and Company Secretary
--------------------------- ----------------------------------------------
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 - 680,000
d) Aggregated information
- Aggregated volume See 4 c) above
- Price See 4 c) above
e) Date of the transactions 10 September 2019
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 - 680,000
d) Aggregated information
- Aggregated volume See 4 c) above
- Price See 4 c) above
e) Date of the transactions 10 September 2019
f) Place of the transactions Outside a trading venue
-------------------------------------- -----------------------------------
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London Stock Exchange. RNS is approved by the Financial Conduct
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of this information may apply. For further information, please
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END
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September 12, 2019 09:47 ET (13:47 GMT)
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