8 November 2024
Solid State plc
("Solid State", the
"Group" or the "Company")
LTIP & CSOP Award
Solid State plc (AIM: SOLI), the specialist
value added component supplier and design-in manufacturer of
computing, power, and communications products, announces the
following grants of options over a total of 284,000 ordinary shares
of 5 pence each ("Ordinary Shares") to executive directors pursuant
to the Company's existing Long term Incentive Plan ("LTIP"), which
was approved by shareholders at the Company's AGM held on 9
September 2020:
|
Executive
Director
|
New options
awarded under LTIP
|
Other existing
options held under LTIP
|
Other existing
EMI options held
|
Total options
held following new LTIP grant
|
|
Gary Marsh
|
71,000
|
194,500
|
-
|
265,500
|
|
Peter James
|
71,000
|
248,000
|
80,000
|
399,000
|
|
John Macmichael
|
71,000
|
248,000
|
-
|
319,000
|
|
Matthew Richards
|
71,000
|
248,000
|
95,000
|
414,000
|
These nominal cost options granted under the
LTIP award will vest in full only if the reported adjusted diluted
EPS growth in the period to the third anniversary of the grant
exceeds 30 per cent plus the UK rate of Consumer Price Inflation.
The performance period is from 1 April 2024 to 31 March 2027,
with EPS growth measured against the reported adjusted diluted EPS
for the Company's financial year ended 31 March 2024. Partial
vesting for growth below this rate will be at the absolute
discretion of the Remuneration Committee at the appropriate
time.
The Board believes that the performance
conditions attaching to the LTIP awards are a fair measure of value
creation and align the Directors' interest with those of the
Company's shareholders.
Furthermore, the Company announces the awards
of market price options over 286,000 new Ordinary Shares to certain
employees pursuant to the Company Share Option Plan, including
PDMRs. These options are exercisable after three years
following grant, subject to achievement of separate performance
criteria and payment of the exercise price.
For further
information please contact:
|
Solid State
plc
Gary Marsh - Chief Executive Officer
Peter James - Chief Financial Officer
|
Via Walbrook
|
|
Cavendish
Capital Markets Limited (Nominated Adviser
& Broker)
Adrian Hadden / Callum Davidson / Hamish Waller
(Corporate Finance)
Jasper Berry / Tim Redfern (Sales /
ECM)
|
020 7397 8900
020 7220 0500
|
|
Walbrook
PR (Financial
PR)
Tom Cooper / Nick Rome / Joe
Walker
|
020 7933 8780
0797 122 1972
solidstate@walbrookpr.com
|
Analyst
Research Reports: For further analyst
information and research see the Solid State plc
website: https://solidstateplc.com/research/
|
1
|
Details of the
person discharging managerial responsibilities / person closely
associated
|
|
a)
|
Name
|
Gary Marsh
|
|
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
|
Solid State plc
|
|
b)
|
LEI
|
213800QUHS9QTN5T1P62
|
|
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 5p each
GB0008237132
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Exercise price:
5p
|
71,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
8 November 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the
person discharging managerial responsibilities / person closely
associated
|
|
a)
|
Name
|
Peter James
|
|
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
|
Solid State plc
|
|
b)
|
LEI
|
213800QUHS9QTN5T1P62
|
|
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 5p each
GB0008237132
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Exercise price:
5p
|
71,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
8 November 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the
person discharging managerial responsibilities / person closely
associated
|
|
a)
|
Name
|
John Macmichael
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Executive Director
|
|
b)
|
Initial notification /Amendment
|
Initial Notification
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name
|
Solid State plc
|
|
b)
|
LEI
|
213800QUHS9QTN5T1P62
|
|
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 5p each
GB0008237132
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Exercise price:
5p
|
71,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
8 November 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the
person discharging managerial responsibilities / person closely
associated
|
|
a)
|
Name
|
Matthew Richards
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Executive Director
|
|
b)
|
Initial notification /Amendment
|
Initial Notification
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name
|
Solid State plc
|
|
b)
|
LEI
|
213800QUHS9QTN5T1P62
|
|
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 5p each
GB0008237132
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Exercise price:
5p
|
71,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
8 November 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the
person discharging managerial responsibilities / person closely
associated
|
|
a)
|
Name
|
Alastair Wallace
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Member of the Executive Board (PDMR)
|
|
b)
|
Initial notification /Amendment
|
Initial Notification
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name
|
Solid State plc
|
|
b)
|
LEI
|
213800QUHS9QTN5T1P62
|
|
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 5p each
GB0008237132
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Exercise price:
207.5p
|
20,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
7 November 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the
person discharging managerial responsibilities / person closely
associated
|
|
a)
|
Name
|
Lyenka Haffner
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Member of the Executive Board (PDMR)
|
|
b)
|
Initial notification /Amendment
|
Initial Notification
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name
|
Solid State plc
|
|
b)
|
LEI
|
213800QUHS9QTN5T1P62
|
|
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 5p each
GB0008237132
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Exercise price:
207.5p
|
20,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
|
|
e)
|
Date of the transaction
|
7 November 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the
person discharging managerial responsibilities / person closely
associated
|
|
a)
|
Name
|
Lyn Davidson
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Group Company Secretary (PDMR)
|
|
b)
|
Initial notification /Amendment
|
Initial Notification
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name
|
Solid State plc
|
|
b)
|
LEI
|
213800QUHS9QTN5T1P62
|
|
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 5p each
GB0008237132
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Exercise price:
207.5p
|
20,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
29 October 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the
person discharging managerial responsibilities / person closely
associated
|
|
a)
|
Name
|
Jon Baxter
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Member of the Executive Board (PDMR)
|
|
b)
|
Initial notification /Amendment
|
Initial Notification
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name
|
Solid State plc
|
|
b)
|
LEI
|
213800QUHS9QTN5T1P62
|
|
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 5p each
GB0008237132
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Exercise price:
207.5p
|
20,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
7 November 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
Notes to Editors:
Solid State plc (AIM: SOLI) is a
leading value-added electronics group supplying industrial and
defence markets with durable components, assemblies and
manufactured systems for use in critical applications, with a
particular emphasis on harsh operational environments. Solid
State's products are found around the world, from the ocean floor
and into space, ensuring the smooth operation of systems that
augment our everyday lives.
The Company has a core focus on
industrial and ruggedised computing, battery power solutions,
antennas, secure radio systems, imaging technologies, and
electronic components & displays.
Operating through two divisions
(Systems and Components) the Group thrives on complex engineering
challenges, often requiring design-in support and component
sourcing. Serving a wide range of industries, with a particular
focus on defence, energy production, aerospace, environmental,
oceanographic, industrial, robotics, medical, life sciences, and
transportation, the Solid State trading brands have become
synonymous with quality and reliability. The Group operates under
the brands of Steatite, Solsta, Custom Power, Pacer, Active
Silicon, Gateway, Durakool and Q-Par.
Solid State plc is headquartered in
Redditch, UK, and employs over 400 people around the world. The
business has seven production facilities in the UK and two in the
USA. In total, including all office locations, the Group operates
from 15 national and international sites.
Solid State was established in 1971
and admitted to AIM in June 1996. The Group has grown
organically and by acquisition - having made five acquisitions in
the last four years.
Take a look at the videos below for
more insight into the Solid State Group.
Introduction to Solid State -
https://youtu.be/1M_Q_B1mYic
Why invest in Solid State? -
https://youtu.be/ShmTz6005ws