27 June 2024

discoverIE Group plc

Director / PDMR Shareholding

Deferred Bonus Awards

discoverIE Group plc (LSE: DSCV, "discoverIE" or the "Company"), a leading international designer and manufacturer of customised electronics for industrial applications, announces that it was notified today of the following transactions in ordinary shares of 5 pence each in the Company ("Ordinary Shares").

In accordance with the Directors' Remuneration Policy, Nick Jefferies, Group Chief Executive and Simon Gibbins, Group Finance Director, are subject to a deferral of 20% of any annual bonus payment into Ordinary Shares, which will be held in trust for a period of three years (the "Deferred Bonus Award").  Mr Jefferies and Mr Gibbins retain eligibility for dividends during the holding period.

7,764 and 4,237 Ordinary Shares were acquired on 26 June 2024 pursuant to the Deferred Bonus Award arrangement, relating to the annual bonuses for Mr Jefferies and Mr Gibbins, respectively, for the year ended 31 March 2024, each at a price of £6.83 per share.

Following these transactions, Mr Jefferies and Mr Gibbins are interested in a total of 1,272,134 and 406,390 Ordinary Shares, respectively, representing 1.32% and 0.42%, respectively, of the Company's issued share capital.

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Notes to Editors:

About discoverIE Group plc

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial applications.

The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally through its two divisions, Magnetics & Controls, and Sensing & Connectivity. By designing components that meet customers' unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long-term customer relationships.

With a focus on sustainable key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, electrification of transportation and industrial automation & connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with complementary acquisitions. The Group is committed to reducing the impact of its operations on the environment with an SBTi aligned plan to reach net zero. With its key markets aligned with a sustainable future, the Group has been awarded an ESG "AA" rating by MSCI and is Regional (Europe) Top Rated by Sustainalytics. 

The Group employs c.4,500 people across 20 countries with its principal operating units located in Continental Europe, the UK, China, Sri Lanka, India and North America.

discoverIE is listed on the Main Market of the London Stock Exchange and is a member of the FTSE250, classified within the Electrical Components and Equipment subsector.

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.