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| Date | 24 Dec 2021 |
| Time | 08:14:47 |
| Category | Director/PDMR dealings |
| ID | 7553W |
24 December 2021
Inspecs Group Plc
("Inspecs" the "Company" or "Group")
Director/PDMR Share Dealing
On 23 December 2021, the following options to acquire Ordinary Shares of 1 pence each in the capital of the Company ("Ordinary Shares") were granted under the Inspecs Long Term Incentive Plan 2020 ("LTIP") to Robin Totterman and Chris Kay, the Chief Executive Officer and Chief Financial Officer respectively, of the Group. Each option entitled the optionholder to acquire 50,000 Ordinary Shares at an exercise price of 370 pence per Ordinary Share. The options vest on the 23 December 2024, being the third anniversary of grant, subject to the optionholder's continued employment with the Group.
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1. Details of the person discharging managerial responsibilities/person closely associated |
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a) Name |
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2. Reason for the notification |
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a) Position/status |
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b) Initial notification / Amendment |
Initial notification |
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3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) Name |
Inspecs Group plc |
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b) LEI |
2138008Z4S4DHR6NE933 |
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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 |
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a) Description of the financial instrument, type of instrument |
Ordinary Shares of 1 pence |
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b) Identification code |
GB00BK6JPP03 |
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c) Nature of the transaction |
Grant of options over 50,000 ordinary shares with an exercise price of 370 pence per share under the Inspecs Long Term Incentive Plan |
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d) Price(s) and volume(s) |
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e) Aggregated information: i. Aggregated volume ii. price |
N/A |
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f) Date of the transaction |
23 December 2021 |
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g) Place of the transaction |
Outside a trading venue |
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1. Details of the person discharging managerial responsibilities/person closely associated |
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a) Name |
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2. Reason for the notification |
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a) Position/status |
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b) Initial notification / Amendment |
Initial notification |
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3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) Name |
Inspecs Group plc |
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b) LEI |
2138008Z4S4DHR6NE933 |
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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 |
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a) Description of the financial instrument, type of instrument |
Ordinary Shares of 1 pence |
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b) Identification code |
GB00BK6JPP03 |
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c) Nature of the transaction |
Grant of options over 50,000 ordinary shares with an exercise price of 370 pence per share under the Inspecs Long Term Incentive Plan |
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d) Price(s) and volume(s) |
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e) Aggregated information: i. Aggregated volume ii. price |
N/A |
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f) Date of the transaction |
23 December 2021 |
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g) Place of the transaction |
Outside a trading venue |
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For further information please contact:
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Inspecs Group plc Robin Totterman (CEO) Chris Kay (CFO)
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via FTI Consulting Tel: +44 (0) 20 3727 1000 |
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Peel Hunt (Nominated Adviser and Broker) Adrian Trimmings Andrew Clark Will Bell |
Tel: +44 (0) 20 7418 8900 |
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FTI Consulting (Financial PR) Alex Beagley Alice Newlyn |
Tel: +44 (0) 20 3727 1000 |
About Inspecs Group plc
Inspecs is a Bath-based designer, manufacturer and distributor of eyewear frames and optically advanced spectacle lenses. The Group produces a broad range of frames and lenses, covering optical, sunglasses and safety, which are either "Branded" (either under licence or under the Group's own proprietary brands), or "OEM" (including private label on behalf of retail customers and un-branded).
In December 2020, Inspecs acquired Eschenbach, a leading, global, eyewear supplier headquartered in Nuremberg, Germany, which includes the American company Tura. The acquisition extended the Group's presence internationally in key global markets. This followed the acquisition of lens maker Norville in July 2020, whereby Inspecs combined two heritage brands in British optical, Savile Row frame maker, and Norville lens maker, further enhancing its vertically integrated business model. As one of only a few companies that can offer this one-stop-shop solution to global retail chains, Inspecs is well positioned to continue to take market share in the globally expanding eyewear market.
Inspecs customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 70,000 points of sale.
Inspecs has operations across the globe: with offices in the UK, Portugal, Scandinavia, the US and China (Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China, the UK and Italy. With the acquisition of Eschenbach, the Group's international reach further extends across Europe and the American markets.
The Group's growth strategy going forward is to: (i) continue to grow organically; (ii) undertake further acquisitions (and drive value through leveraging the Group's internal capabilities); and (iii) extend the Group's manufacturing capacity.
More information is available at: www.INSPECS.com.