This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
21 April 2021
Strix Group plc
("Strix" or the "Company")
Exercise of Options, Issue of Equity and Grant of Options
Exercise of Options
Strix Group Plc (AIM: KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water products used in temperature control, steam management and water filtration, announces that today Mark Bartlett, Chief Executive officer, Raudres Wong, Chief Financial Officer and Frank Gao, Chief Operating Officer, exercised share options over 110,878, 102,075 and 46,173 ordinary shares of £0.01 each ("Ordinary Shares") respectively. These share options were granted on 1 November 2018 under the Strix Group Plc Long Term Incentive Plan ("LTIP").
Following the exercise of the options, the below directors and PDMRs have the following interests in the share capital of the Company:
| Director / PDMR | Position | Ordinary Shares held previously | % of total issued share capital | Number of Ordinary Shares over which options exercised | Resulting total number of Ordinary Shares held | % of enlarged issued share capital |
| Mark Bartlett | Chief Executive Officer | 3,400,000 | 1.65% | 110,878 | 3,510,878 | 1.70% |
| Raudres Wong1 | Chief Financial Officer | 2,200,000 | 1.07% | 102,075 | 2,302,075 | 1.11% |
| Frank Gao | Chief Operating Officer | 360,000 | 0.17% | 46,173 | 406,173 | 0.20% |
| TOTAL | | 5,960,000 | 2.89% | 259,126 | 6,219,126 | 3.01% |
1 Shares held in the name of her husband, Wing Yip Fong
In addition, certain other employees of the Company have exercised share options over 352,161 Ordinary Shares.
Issue of Equity
Strix has made application to the London Stock Exchange for the issue of securities in respect of 611,287 new Ordinary Shares to be admitted to trading on AIM in relation to the exercise of these share options and it is expected that admission will become effective on 22 April 2021.
Total voting rights
Following the admission of the new Ordinary Shares pursuant to the exercise of share options and the Issue of Equity, the Company's issued share capital will comprise 206,496,375 Ordinary Shares and 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.
Grant of Options
Strix also announces that it granted options today over a total of 1,027,736 Ordinary Shares under the Strix Group Plc Long Term Incentive Plan.
Included within the 1,027,736 options granted are the following to Directors and PDMRs of the Company as part of their annual remuneration and incentivisation packages:
| Director / PDMR | Position | Number of options granted | Total number of unvested share options held |
| Mark Bartlett | Chief Executive Officer | 123,995 | 519,531 |
| Raudres Wong | Chief Financial Officer | 107,593 | 499,920 |
| Frank Gao | Chief Operating Officer | 63,720 | 285,415 |
| Harry Kyriacou | Chief Commercial Officer | 45,207 | 277,036 |
| TOTAL | | 340,515 | 1,581,902 |
Of the remaining 687,221 options granted, 87,221 have been awarded to members of the Company's trading board and 600,000 to other employees. All options have been granted at nil cost and for those granted to the Company's trading board these are subject to performance conditions as determined by the Company's Remuneration Committee. Those granted to other employees are subject to remaining in employment with the Company for two years post being granted or specific individual strategic objectives and will vest in two to three years depending on specific strategic targets being met.
Following these grants the total number of options over Ordinary Shares in issue is 3,593,131 representing 1.74 per cent. of the issued share capital of the Company.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
|
| Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Mark Bartlett | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | CEO | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Strix Group plc | ||||
| b) | LEI | 213800KZEW5W6BZMNT62 | ||||
| 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 financial instrument, type of instrument Identification code | Ordinary shares of £0.01
ISIN: IM00BF0FMG91
| ||||
| b) | Nature of the transaction | Exercise of Share Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
| ||||
| e) | Date of the transaction | 21 April 2021 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM | ||||
|
| Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Raudres Wong | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | CFO | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Strix Group plc | ||||
| b) | LEI | 213800KZEW5W6BZMNT62 | ||||
| 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 financial instrument, type of instrument Identification code | Ordinary shares of £0.01
ISIN: IM00BF0FMG91 | ||||
| b) | Nature of the transaction | Exercise of Share Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
| ||||
| e) | Date of the transaction | 21 April 2021 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM | ||||
|
| Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Frank Gao | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | COO | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Strix Group plc | ||||
| b) | LEI | 213800KZEW5W6BZMNT62 | ||||
| 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 financial instrument, type of instrument Identification code | Ordinary shares of £0.01
ISIN: IM00BF0FMG91
| ||||
| b) | Nature of the transaction | Exercise of Share Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
| ||||
| e) | Date of the transaction | 21 April 2021 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Mark Bartlett | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Strix Group Plc | ||||
| b) | LEI | 213800KZEW5W6BZMNT62 | ||||
| 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 financial instrument, type of instrument Identification code | Ordinary shares of £0.01
ISIN: IM00BF0FMG91 | ||||
| b) | Nature of the transaction | Grant of Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
| ||||
| e) | Date of the transaction | 21 April 2021 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Raudres Wong | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Financial Officer | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Strix Group Plc | ||||
| b) | LEI | 213800KZEW5W6BZMNT62 | ||||
| 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 financial instrument, type of instrument Identification code | Ordinary shares of £0.01
ISIN: IM00BF0FMG91
| ||||
| b) | Nature of the transaction | Grant of Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
| ||||
| e) | Date of the transaction | 21 April 2021 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Frank Gao | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Operating Officer | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Strix Group Plc | ||||
| b) | LEI | 213800KZEW5W6BZMNT62 | ||||
| 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 financial instrument, type of instrument Identification code | Ordinary shares of £0.01
ISIN: IM00BF0FMG91
| ||||
| b) | Nature of the transaction | Grant of Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
| ||||
| e) | Date of the transaction | 21 April 2021 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Harry Kyriacou | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Commercial Officer | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Strix Group Plc | ||||
| b) | LEI | 213800KZEW5W6BZMNT62 | ||||
| 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 financial instrument, type of instrument Identification code | Ordinary shares of £0.01
ISIN: IM00BF0FMG91
| ||||
| b) | Nature of the transaction | Grant of Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
| ||||
| e) | Date of the transaction | 21 April 2021 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM | ||||
Further enquiries, please contact:
| Strix Group Plc Mark Bartlett, CEO Raudres Wong, CFO
| +44 (0) 1624 829829 | |
| Zeus Capital Limited (Nominated Advisor and Joint Broker) Nick Cowles / Jamie Peel / Jordan Warburton (Corporate Finance)
| +44 (0) 20 3829 5000 | |
| | | |
| Stifel Nicolaus Europe Limited (Joint Broker) | +44 (0) 20 7710 7600 | |
| Matthew Blawat / Francis North
| | |
| | | |
| IFC Advisory Limited (Financial PR and IR) | +44 (0) 20 3934 6630 | |
| Graham Herring / Tim Metcalfe / Florence Chandler | | |
| | | |
ABOUT STRIX GROUP PLC
Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.
Strix's core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly. Strix has built up market leading capability and know-how in this field since being founded in 1982.
Strix is admitted to trading on the AIM Market of the London Stock Exchange (AIM: KETL).
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