23 October 2024
Solid State
plc
("Solid
State", the "Group" or the "Company")
Exercise of
Options
Issue of
Equity
&
Directors'
Dealings
Solid State plc (AIM: SOLI), the
specialist value added component supplier and design-in
manufacturer of computing, power, and communications
products, announces that on 18 October
2024, options over a total of 133,500 new ordinary shares of 5p
each in Solid State Plc ("Ordinary Shares") were exercised under
the Company's Enterprise Management Incentive Scheme and the
Company's Long Term Incentive Plan by certain Directors.
The Company has also been notified
that, to cover the costs associated with these exercises and to
mitigate the potential Capital Gains Tax increase impact expected
to be announced in the UK budget on 30 October 2024, 49,500
Ordinary Shares have been sold, in aggregate, by these Directors.
Further details of these transactions are set out below.
|
Director
|
Type of Exercise (option scheme)
|
Number of options over new Ordinary Shares
exercised
|
Total number of Ordinary Shares sold following
exercise
|
Sale price per ordinary share
|
|
Gary Marsh (Chief Executive
Officer)
|
EMI options
|
40,000
|
40,000
|
240p
|
|
Gary Marsh (Chief Executive
Officer)
|
Long Term Incentive Plan
|
53,500
|
0
|
N/A
|
|
John Macmichael
(Director)
|
EMI Options
|
40,000
|
9,500
|
240p
|
Furthermore, Gary Marsh has
transferred 2,000 Ordinary Shares to his spouse, Laura Marsh, for
nil consideration on 18 October, who subsequently sold 1,750
Ordinary Shares at a price of 221.5p per share, on 23
October.
Following these transactions, Gary
Marsh and John Macmichael hold, together with their persons closely
associated, 1,320,680 Ordinary Shares and 538,280 Ordinary Shares
respectively. Both Directors will increase their respective
shareholdings following this exercise.
Application has been made for the
admission of the 133,500 new Ordinary Shares to trading on AIM. The
new Ordinary Shares will rank pari passu with the existing
Ordinary Shares. It is expected that Admission will become
effective and that dealings in the new Ordinary Shares will
commence at 8.00 a.m. on 25 October 2024.
Total Voting Rights
Following Admission, the Company's
issued share capital will consist of 57,081,720 Ordinary Shares of
which 35,980 Ordinary Shares are held in treasury. Therefore, the
total number of voting rights in the Company is 57,045,740.
Shareholders may use this figure as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency
Rules.
|
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
|
Exercise of options under the
Company's Enterprise Management Incentive (EMI) Scheme
|
|
c)
|
Price(s) and volume(s)
|
|
Type
|
Price(s)
|
Volume(s)
|
|
Exercise of options
|
Exercise price of 0.0002p per
share
|
40,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
18 October 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
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
|
Exercise of options under the
Company's Long Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Type
|
Price(s)
|
Volume(s)
|
|
Exercise of options
|
Exercise price of 5p per
share
|
53,500
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
18 October 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
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
|
Sale of ordinary shares
|
|
c)
|
Price(s) and volume(s)
|
|
Type
|
Price(s)
|
Volume(s)
|
|
Sale of shares
|
240p
|
40,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
18 October 2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange -
AIMX
|
|
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
|
Transfer of ordinary shares to spouse
for nil consideration
|
|
c)
|
Price(s) and volume(s)
|
|
Type
|
Price(s)
|
Volume(s)
|
|
Transfer of shares
|
Nil consideration
|
2,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
18 October 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
|
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
|
Exercise of options under the
Company's Enterprise Management Incentive (EMI) Scheme
|
|
c)
|
Price(s) and volume(s)
|
|
Type
|
Price(s)
|
Volume(s)
|
|
Exercise of options
|
Exercise price of 0.0002p per
share
|
40,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
18 October 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
|
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
|
Sale of ordinary shares
|
|
c)
|
Price(s) and volume(s)
|
|
Type
|
Price(s)
|
Volume(s)
|
|
Sale of shares
|
240p
|
9,500
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
18 October 2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange -
AIMX
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Laura Marsh
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Wife of Gary Marsh, Chief Executive
Officer of Solid State PLC
|
|
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
|
Acquisition of ordinary shares from
spouse by way of transfer for nil consideration
|
|
c)
|
Price(s) and volume(s)
|
|
Type
|
Price(s)
|
Volume(s)
|
|
Acquisition of shares
|
Nil consideration
|
2,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
18 October 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Laura Marsh
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Wife of Gary Marsh, Chief Executive
Officer of Solid State PLC
|
|
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
|
Sale of ordinary shares
|
|
c)
|
Price(s) and volume(s)
|
|
Type
|
Price(s)
|
Volume(s)
|
|
Sale of shares
|
221.5p per share
|
1,750
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
|
|
e)
|
Date of the transaction
|
23 October 2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange -
AIMX
|
For
further information please contact:
|
Solid State plc
Gary Marsh - Chief
Executive
Peter James - Group Finance
Director
|
Via Walbrook
|
|
Cavendish Capital Markets Limited
(Nominated Adviser &
Broker)
Adrian Hadden / Callum Davidson
(Corporate Finance)
Jasper Berry / Tim Redfern (Sales /
ECM)
|
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/
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 and Durakool.
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 four 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
