Exercise and Grant of Options and Issue of Equity
Strix issued 209,890 shares from exercised options and granted 1,940,812 new options to employees and directors.
- New ordinary shares issued 209,890
- Options granted 1,940,812
- Options granted to directors 987,713
- Total issued share capital 218,924,238
- Total options in issue 5,320,571
- Options as % of issued share capital 2.4%
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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.
| 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 |
| a) | Name | Strix Group Plc |
| b) | LEI | 213800KZEW5W6BZMNT62 |
| 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 |
| a) | Name | Strix Group Plc |
| b) | LEI | 213800KZEW5W6BZMNT62 |
| 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 |
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