26 January 2024
Volex plc
("Volex" or the
"Company")
Director / PDMR
Shareholding
Volex plc (AIM: VLX) announces that
on Wednesday 24 January 2024, Nat Rothschild, Executive Chairman,
exercised a nil-cost award over ordinary shares of 25
pence each in the company ("Ordinary Shares") granted to him
under the Volex plc Long Term Incentive Plan (the 'LTIP
Award').
The LTIP Award was granted on 10
September 2019 subject to performance conditions being met relating
to profit and relative total shareholder return ("TSR"). The
Company's remuneration committee assessed the performance
conditions and determined that 680,000 awards should be granted
pursuant to the LTIP Award, and consequently, Nat Rothschild has
exercised 680,000 LTIP Awards over Ordinary Shares.
The LTIP Award will be satisfied
using existing shares purchased in the market by the trustee of the
Company's employee benefit trust. The Ordinary Shares
acquired on exercise are subject to a holding period expiring 10
September 2025.
Following the exercise of the LTIP
Award, Nat Rothschild1 is interested in
46,539,426 shares Ordinary Shares
(save for unvested or unexercised awards), representing
approximately 25.62 per cent. of the Company's issued share
capital.
1 Including those shares
held through NR Holdings Ltd, of which Nat Rothschild is a
beneficiary.
For further information please
contact:
|
Volex plc
Nat Rothschild, Executive
Chairman
Jon Boaden, Chief Financial
Officer
|
+44 (0)7971 156 431
investor.relations@volex.com
|
|
Peel Hunt LLP - Nominated Adviser & Joint
Broker
Ed Allsopp
Tom Ballard
Ben Harrington
|
+44 (0)20 7418 8900
|
|
HSBC Bank plc - Joint Broker
Simon Alexander
Joe Weaving
|
+44 (0)20 7991 8888
|
|
Powerscourt - Media Enquiries
James White
|
+44 (0)20 7250 1446
|
The information below (set out in
accordance with the requirements of EU Market Abuse Regulation)
provides further detail:
|
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 award granted under the Volex plc
Long Term Incentive Plan to acquire ordinary shares
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
£nil
|
Volume(s)
680,000
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
680,000
£nil
|
|
e)
|
Date of the transaction
|
24 January 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
About Volex
Volex plc (AIM: VLX) is a global
leader in integrated manufacturing for performance-critical
applications and a supplier of power products. We serve a diverse
range of markets and customers, with particular expertise in cable
assemblies, higher-level assemblies, data centre power and
connectivity, electric vehicles, and consumer electricals. We are
headquartered in the UK and operate from 27 manufacturing
locations with a global workforce of over 11,500 people across 24
countries. Our products are sold through our own locally based
sales teams and through authorised distributor partners to Original
Equipment Manufacturers ('OEMs') and Electronic Manufacturing
Services ('EMS') companies worldwide. All of the products and
services that we offer are integral to the increasingly complex
digital world in which we live, providing power and connectivity
from the most common household items to the most complex medical
equipment. For more information, please
visit www.volex.com
