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
