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
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