Volex plc
("Volex" or the "Company")
Director/PDMR Dealings
Exercise of options
Volex plc (AIM:VLX) announces that it was notified on Monday 14 February 2022 that the following directors/persons discharging managerial responsibilities ('PDMRs') had exercised the following awards over (in aggregate) 1,080,000 ordinary shares in the capital of the Company granted to them under the Volex plc Performance Share Plan in FY2018 and FY2019 respectively (the 'PSP Awards'). The awards have an exercise price of 25p per share. Details of the exercised PSP Awards are summarised below:
| PDMR | Number of Shares | Financial Year of Grant |
| Nat Rothschild | 340,000 | FY2019 |
| John Molloy | 340,000 | FY2019 |
| John Molloy | 400,000 | FY2018 |
The PSP Awards will be satisfied using existing shares purchased in the market by the trustee of the Company's employee benefit trust.
Grant of options
Volex also announces that it was notified on Tuesday 15 February 2022 that the following directors/PDMRs were granted the following nil-cost awards ('the LTIP Awards') over ordinary shares in the capital of the Company (the 'Shares') under the Company's Long Term Incentive Plan.
| PDMR | Type of Award | Number of Shares |
| Nat Rothschild | Nil-cost option | 142,500 |
| John Molloy | Nil-cost option | 132,500 |
| Jon Boaden | Nil-cost option | 82,500 |
In the ordinary course, the LTIP Awards will vest and become exercisable on 7 December 2024, subject to the PDMRs continuing employment with the Company and the satisfaction of TSR performance conditions measured over FY22, FY23 and FY24. If certain stretching conditions are met an absolute TSR performance multiplier will also apply, whereby if the Company achieves 100% growth in absolute TSR over the three year vesting period a multiplier of up to 2.5x will be applied to the Awards. Following vesting, the Shares will be subject to a two-year holding period (net of tax).
This announcement 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 /Amendment | Initial Notification | |
| 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 financial instrument, type of instrument Identification code | Ordinary Shares of 25 pence each
| |
| b) | Nature of the transaction | Exercise of awards under the Volex plc Performance Share Plan | |
| c) | Price(s) and volume(s) | Price(s) 25p per share | Volume(s) 340,000 |
| d) | Aggregated information - Aggregated volume - Price |
N/A - single transaction | |
| e) | Date of the transaction | 14 February 2022 | |
| f) | Place of the transaction | Outside a trading venue | |
| 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 /Amendment | Initial Notification | |
| 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 financial instrument, type of instrument Identification code | Ordinary Shares of 25 pence each
| |
| b) | Nature of the transaction | Exercise of awards under the Volex plc Performance Share Plans | |
| c) | Price(s) and volume(s) | Price(s) 25p per share | Volume(s) 740,000 |
| d) | Aggregated information - Aggregated volume - Price |
N/A - single transaction | |
| e) | Date of the transaction | 14 February 2022 | |
| f) | Place of the transaction | Outside a trading venue | |
| 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 /Amendment | Initial Notification | |
| 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 financial instrument, type of instrument Identification code | Ordinary Shares of 25 pence each
| |
| b) | Nature of the transaction | Grant of awards under the Volex plc Long Term Incentive Plan | |
| c) | Price(s) and volume(s) | Price(s) £nil | Volume(s) 142,500 |
| d) | Aggregated information - Aggregated volume - Price |
N/A - single transaction | |
| e) | Date of the transaction | 15 February 2022 | |
| f) | Place of the transaction | Outside a trading venue | |
| 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 /Amendment | Initial Notification | |
| 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 financial instrument, type of instrument Identification code | Ordinary Shares of 25 pence each
| |
| b) | Nature of the transaction | Grant of awards under the Volex plc Long Term Incentive Plan | |
| c) | Price(s) and volume(s) | Price(s) £nil | Volume(s) 132,500 |
| d) | Aggregated information - Aggregated volume - Price |
N/A - single transaction | |
| e) | Date of the transaction | 15 February 2022 | |
| f) | Place of the transaction | Outside a trading venue | |
| 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 /Amendment | Initial Notification | |
| 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 financial instrument, type of instrument Identification code | Ordinary Shares of 25 pence each
| |
| b) | Nature of the transaction | Grant of awards under the Volex plc Long Term Incentive Plan | |
| c) | Price(s) and volume(s) | Price(s) £nil | Volume(s) 82,500 |
| d) | Aggregated information - Aggregated volume - Price |
N/A - single transaction | |
| e) | Date of the transaction | 15 February 2022 | |
| f) | Place of the transaction | Outside a trading venue | |
For further information please contact:
| Volex plc | +44 (0)7971 156 431 |
| Nat Rothschild, Executive Chairman |
|
| Jon Boaden, Chief Financial Officer |
|
| Christian Bedford, Group General Counsel and Company Secretary |
|
| Singer Capital Markets - Nominated Adviser & Joint Broker | +44 (0)20 7496 3000 |
| Shaun Dobson |
|
| George Tzimas |
|
| HSBC Bank plc - Joint Broker | +44 (0)20 7991 8888 |
| Simon Alexander |
|
| Joe Weaving |
|
| Powerscourt - Media Enquiries | +44 (0)20 7250 1446 |
| James White |
|
| Ollie Head |
|
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