Source - LSE Regulatory
RNS Number : 0979W
Strix Group PLC
21 April 2021
 

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.

 

 


1

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)

 

 Price(s)

Volume(s)

Nil

110,878

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

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

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)

 

 Price(s)

Volume(s)

Nil

102,075

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

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

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)

 

 Price(s)

Volume(s)

Nil

46,173

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

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

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)

 Price(s)

Volume(s)

Nil

123,995

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

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

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)

 Price(s)

Volume(s)

Nil

107,593

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

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

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)

 Price(s)

Volume(s)

Nil

63,720

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

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

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)

 Price(s)

Volume(s)

Nil

45,207

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

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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