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Volex PLC - Exercise of options and sale of shares

Mon, 10th Sep 2018 18:23

RNS Number : 3343A
Volex PLC
10 September 2018
 

 

Exercise of share options under the 2009 Volex plc Performance Share Plan

Volex plc ("Volex" or "the Company") announces that on 8 August 2018 Daren Morris, Chief Financial Officer, notified the Company to request that they instruct the Trustees of the Volex plc Employee Share Trust to exercise share options in accordance with the Rules of the 2009 Volex plc Performance Share Plan.

Following receipt of this notification, on the 6 September 2018 the Company instructed the Trustees accordingly, and on the 7 September 2018 the Volex plc Employee Share Trust sold 136,083 shares in order to satisfy the exercise of options issued to Daren Morris under the 2009 Volex plc Performance Share Plan. 

 

All the options exercised had an exercise price of 25.0 pence per share and the shares sold had a sale price of 86.9 pence per share. Both the exercise and the subsequent sale were done through the Volex plc Employee Share Trust and there was no increase in share capital or change in Mr Morris' shareholding.

The net effect of the exercise and sale and the resultant holdings are shown in the table below:

Director

Position

Holding pre-exercise and sale

Change in ordinary shares

Holding post- exercise and sale

Holding % ISC

Daren Morris

Chief Financial Officer

502,647

 

0

502,647

 

0.3

 

The below notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail.

 

1.

Details of PDMR / person closely associated (PCA)

a)

Name

Daren Morris

2.

Reason for the notification

a)

Position / status

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)

Full name of the entity

Volex PLC

b)

LEI

213800HBLQNH5FXXGE63

4.

Details of the transaction(s)

a)

Description of the financial instrument

Identification Code

Ordinary Shares

 

GB0009390070

b)

Nature of the transaction

Exercise of options and subsequent sale of shares

c)

Price(s) and volume(s)

Exercise of 136,083 options to acquire shares at £0.25 per share and sale of 136,083 of those shares at £0.869 per share

d)

Aggregated information

 

 

Exercise of 136,083 options to acquire shares for a total of £34,021 at £0.25  per share and sale of 136,083  of those shares for a total of £118,256 at £0.869 per share

e)

Date of the transaction

7 September 2018

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

For further information, please contact:

Volex plc                                                                           Tel: 07909 995887 Daren Morris, CFO

Liberum (Nominated Adviser & Sole Broker)              Tel: 0203 100 2222

Steve Pearce Euan Brown

 

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.
 
END
 
 
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