Volex PLC Grant of LTIP Share Options (4349J)
December 21 2020 - 12:35PM
UK Regulatory
TIDMVLX
RNS Number : 4349J
Volex PLC
21 December 2020
21 December 2020
Volex plc
("Volex" or the "Company")
Grant of LTIP Share Options to PDMRs
Volex plc (AIM:VLX), the global supplier of integrated
manufacturing services and power products, today announces that
certain PDMRs were granted nil-cost options over ordinary shares of
25 pence each in the Company (the "Shares") on 18 December 2020 by
the Company's Remuneration Committee under the Company's Long Term
Incentive Plan ("LTIP").
FY2021 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 240,000
Chief Financial
Jon Boaden Officer 115,000
Chief Operating
John Molloy Officer 130,000
The LTIP scheme, which replaced 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 relative total shareholder return ("TSR") targets and to
the recipient's continued employment with the Company. The awards
are also subject to a maximum 2x multiplier in the event of
exceptional performance relating to absolute TSR. The awards also
include 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
previous PSP (FY2018 and FY2019) and the new LTIP (FY2020 and
FY2021) as set out below:
PDMR Position Number of Options
Nat Rothschild Executive Chairman 1 ,270,000
Chief Financial
Jon Boaden Officer 3 40,000
Chief Operating
John Molloy Officer 1,550,000
This announcement is made in accordance with the requirements of
Article 19 of the EU Market Abuse Regulation No 596/2014.
For further information please contact:
+44 (0)7747 488
Volex plc 785
Nat Rothschild, Executive Chairman
Jon Boaden, Chief Financial Officer
N+1 Singer - Nominated Adviser & Joint Broker +44 (0)20 7496 3000
Shaun Dobson
Iqra Amin
Panmure Gordon - Joint Broker +44 (0)20 7886 2500
Hugh Rich
+ 44 (0)20 7250
Powerscourt - Media Enquiries 1446
James White
Jack Holden
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 - 240,000
d) Aggregated information
- Aggregated volume See 4 c) above
- Price See 4 c) above
e) Date of the transactions 18 December 2020
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 Jon Boaden
-------------------------------------- -----------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Chief Financial 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 - 115,000
d) Aggregated information
- Aggregated volume See 4 c) above
- Price See 4 c) above
e) Date of the transactions 18 December 2020
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 - 130,000
d) Aggregated information
- Aggregated volume See 4 c) above
- Price See 4 c) above
e) Date of the transactions 18 December 2020
f) Place of the transactions Outside a trading venue
-------------------------------------- -----------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHFZMZZNMMGGZM
(END) Dow Jones Newswires
December 21, 2020 12:35 ET (17:35 GMT)
Volex (LSE:VLX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Volex (LSE:VLX)
Historical Stock Chart
From Sep 2023 to Sep 2024