18 December 2024
Volex plc
("Volex" or the "Company")
Director / PDMR Shareholding
Volex plc (AIM:VLX) announces that on Monday 16 December 2024 Lord Rothschild, Executive Chairman, exercised a nil-cost award over 115,425 ordinary shares of 25 pence each in the Company (the 'Ordinary Shares') granted to him under the Volex plc Long Term Incentive Plan (the 'LTIP Award').
The LTIP Award was granted on 15 February 2022, subject to performance conditions being met relating to profit and relative total shareholder return. On 3 December 2024 the Company's remuneration committee assessed the performance conditions and determined that 115,425 Ordinary Shares would vest and become exercisable with effect from 7 December 2024.
The LTIP Award will be satisfied using existing shares purchased in the market by the trustee of the Company's employee benefit trust. In accordance with the rules of the LTIP, the Ordinary Shares acquired on exercise will be subject a two-year holding period expiring on 7 December 2026.
Following the exercise of the LTIP Award, Lord Rothschild* is interested in 46,762,664 Ordinary Shares (save for unvested or unexercised awards), representing approximately 25.74 per cent. of the Company's issued share capital.
* Including those shares held through NR Holdings Ltd, of which Lord Rothschild is a beneficiary.
For further information please contact:
| Volex plc Lord Rothschild, Executive Chairman Jon Boaden, Chief Financial Officer | +44 1256 442570 investor.relations@volex.com |
| Peel Hunt LLP - Nominated Adviser & Joint Broker Ed Allsopp Dom Convey Tom Graham | +44 (0)20 7418 8900
|
| HSBC Bank plc - Joint Broker Simon Alexander Joe Weaving Stephanie Cornish | +44 (0)20 7991 8888 |
| Sodali & Co - Media Enquiries James White Nicholas Johnson
| +44 (0)20 7250 1446 |
The below notification made in accordance with the requirements of the 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) 115,425 |
| d) | Aggregated information - Aggregated volume - Price |
115,425 £nil | |
| e) | Date of the transaction | 16 December 2024 | |
| f) | Place of the transaction | Outside a trading venue | |
About Volex plc
Volex plc (AIM:VLX) is a driving force in integrated manufacturing for mission-critical applications and a global leader in power and data connectivity solutions. Our diverse operations support international blue-chip customers in five key sectors: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway. Headquartered in the UK, we orchestrate operations across 28 advanced manufacturing facilities, uniting 14,000 dynamic individuals from 25 different nations. Our extraordinary products find their way to market through our localised sales teams and authorised distributor partners, supporting Original Equipment Manufacturers and Electronic Manufacturing Services companies across the globe. In a world that grows more digitally complex by the day, customers trust us to deliver power and connectivity that drives everything from household essentials to life-saving medical equipment. Learn more at www.volex.com.
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