1 Apr 2016 07:00
Volex plc
1 April 2016
SHARE AWARDS
Volex plc ("Volex" or the "Company") a global provider of power and data cabling solutions, today announces that Persons Discharging Managerial Responsibilities ("PDMRs") were each granted share awards over ordinary shares of £0.25 each in the Company (the "Shares").
Performance Share Awards
Performance share awards were granted under the Volex Group plc Performance Share Plan 2009 (the "PSP Awards") over the Company's Shares as follows:
Director or PDMR |
Position |
Number of PSP Awards Granted |
Nat Rothschild | Executive Chairman | 656,168 |
Daren Morris | Chief Financial Officer | 656,168 |
Raymond Liu | Head of Asia | 339,555
|
The PSP Awards vest after three years with 50% linked to an operating profit target and 50% linked to a relative total shareholder return target. In each case, the price payable for the acquisition of vested award shares is the nominal value of £0.25 per Share.
Following such awards, the PDMRs will hold options over an aggregate of Shares under the Performance Share Plan 2009 as set out below:
Director or PDMR |
Position |
Number of PSP Awards Granted |
Nat Rothschild | Executive Chairman | 656,168 |
Daren Morris | Chief Financial Officer | 1,019,057 |
Raymond Liu | Head of Asia | 339,555
|
For further information please contact:
Kim Small, Assistant, Company Secretary, Volex plc + 44 (0)20 3370 8830
Volex (VLX)