25 April 2024
Strix Group
plc
("Strix" or the
"Company")
Exercise and Grant of Options
and Issue of Equity
Strix Group Plc (AIM:KETL), the
quoted global leader in the design, manufacture and supply of
kettle safety controls and other complementary water temperature
management components, announces the Company has issued 209,890 new
ordinary shares of £0.01 each ("Ordinary Shares") in the Company
(the "Option Shares") pursuant to the exercise of options
("Options") under the Strix Group Plc Long Term Incentive Plan
("LTIP"). The Options were granted in April 2021 ("2021 LTIP
Award") and vested and became exercisable from 25 April 2024 in
accordance with the rules of the LTIP. The Option Shares were
awarded to Strix employees and not to Strix's directors. The
remainder of the 2021 LTIP Awards, including those held by Strix's
directors, have lapsed.
Admission and Total voting rights
Strix has made application to the
London Stock Exchange for the issue of securities in respect of
209,890 new Ordinary Shares to be admitted to trading on AIM in
relation to the exercise of the Option Shares and it is expected
that admission will become effective on 26 April 2024. The Option
Shares are being issued to satisfy the exercise of Options by an
employee under the LTIP.
Following the admission of the new
Ordinary Shares pursuant to the exercise of share options and the
issue of equity, the Company's issued share capital will comprise
218,924,238 Ordinary Shares and may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure Guidance and Transparency Rules. The Company
does not hold any shares in treasury.
Grant of Options
Strix also announces that it granted
options over a total of 1,940,812 Ordinary Shares under the
LTIP.
Included within the 1,940,812
options granted are the following to Directors/PDMR of the Company
as part of their annual remuneration and incentivisation
packages:
|
Director/PDMR
|
Position
|
Number of unvested share
options previously held
|
Number of unvested share
options lapsed
|
Number of options
granted
|
Total number of unvested
share options held
|
|
Mark
Bartlett
|
Chief
Executive Officer
|
659,050
|
123,995
|
528,972
|
1,064,027
|
|
Clare
Foster
|
Chief
Financial Officer
|
225,089
|
-
|
458,741
|
683,830
|
|
TOTAL
|
|
884,139
|
123,995
|
987,713
|
1,747,857
|
In addition to the options awarded
to Directors, 953,099 options have been awarded to the Company's
key employees. All options have been granted at nil cost and are
subject to performance conditions as determined by the Company's
Remuneration Committee.
Following these grants, the total
number of options over Ordinary Shares in issue is 5,320,571
representing 2.4% per cent. of the issued share capital of the
Company.
The notification below, made in
accordance with the requirements of the EU Market Abuse Regulation,
provides further detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Mark Bartlett
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Executive Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Strix Group Plc
|
|
b)
|
LEI
|
213800KZEW5W6BZMNT62
|
|
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
|
|
a)
|
Description of the financial
instrument, type of instrument
Identification code
|
Ordinary shares of £0.01
ISIN: IM00BF0FMG91
|
|
b)
|
Nature of the transaction
|
Grant of Options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
528,972
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single
transaction
|
|
e)
|
Date of the transaction
|
25/04/24
|
|
f)
|
Place of the transaction
|
London Stock Exchange,
AIM
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Clare Foster
|
|
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)
|
Name
|
Strix Group Plc
|
|
b)
|
LEI
|
213800KZEW5W6BZMNT62
|
|
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
|
|
a)
|
Description of the financial
instrument, type of instrument
Identification code
|
Ordinary shares of £0.01
ISIN: IM00BF0FMG91
|
|
b)
|
Nature of the transaction
|
Grant of Options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
458,741
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single
transaction
|
|
e)
|
Date of the transaction
|
25/04/24
|
|
f)
|
Place of the transaction
|
London Stock Exchange,
AIM
|
Further enquiries, please contact:
|
Strix Group Plc
Mark Bartlett, CEO
Clare Foster, CFO
|
+44 (0)
1624 829829
|
|
|
Zeus (Nominated Adviser and Joint Broker)
Nick Cowles / Jordan Warburton
(Investment Banking)
|
+44 (0) 20
3829 5000
|
|
|
|
|
|
|
Stifel Nicolaus Europe Limited (Joint
Broker)
|
+44
(0) 20 7710 7600
|
|
|
Matthew Blawat / Francis
North
|
|
|
|
|
|
|
|
IFC
Advisory Limited (Financial PR and IR)
|
+44 (0) 20
3934 6630
|
|
|
Graham Herring / Tim Metcalfe /
Florence Chandler
|
|
|
|
|
|
ABOUT STRIX GROUP PLC
Isle of Man based Strix, is a global
leader in the design, manufacture and supply of kettle safety
controls and other components and devices involving water heating
and temperature control, steam management and water
filtration.
Strix's core product range comprises
a variety of safety controls for small domestic appliances,
primarily kettles. Kettle safety controls require precision
engineering and intricate knowledge of material properties in order
to repeatedly function correctly. Strix has built up market leading
capability and know-how in this field since being founded in
1982.
Strix trades on the AIM Market of
the London Stock Exchange (AIM: KETL).
