Inspecs Group PLC Director/PDMR LTIP Awards (4297Q)
February 26 2021 - 1:00AM
UK Regulatory
TIDMSPEC
RNS Number : 4297Q
Inspecs Group PLC
26 February 2021
26 February 2021
Inspecs Group Plc
("Inspecs" the "Company" or "Group")
Director/PDMR LTIP Awards
On 26 February 2021, the following awards of options to acquire
Ordinary Shares of 1 pence each in the capital of the Company
("Ordinary Shares") were made under the Inspecs Long Term Incentive
Plan 2020 ("LTIP"). Options to acquire 283,153 Ordinary Shares have
been awarded to Board members of the Group at an exercise price of
325 pence per Ordinary Share for the Chief Financial Officer and
210 pence per Ordinary Share for two Non-Executive Directors.
Furthermore, options to acquire 457,883 Ordinary Shares have been
awarded to other members of the Group's senior management team at
an exercise price of 325 pence per Ordinary Share. In aggregate,
options to acquire 741,036 Ordinary Shares have been awarded under
the LTIP.
The options vest on the 26 February 2024, being the third
anniversary of grant, subject to the option holder's continued
employment with the Group.
1. Details of the person discharging managerial responsibilities/person closely associated
a) Name 1. Christopher Kay
2. Chris Hancock
----------------
3. Lord MacLaurin
----------------
---------------------------------
2. Reason for the notification
---------------------------------
a) Position/status 1. Chief Financial Officer
2. Non-Executive Director
------------------------
3. Non-Executive Chairman
------------------------
---------------------------------
b) Initial notification / Amendment Initial notification
---------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name Inspecs Group plc
---------------------------------
b) LEI 2138008Z4S4DHR6NE933
---------------------------------
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 Ordinary Shares of 1 pence
instrument, type of instrument
---------------------------------
b) Identification code GB00BK6JPP03
---------------------------------
c) Nature of the transaction Awards made pursuant to the
Inspecs Long Term Incentive
Plan
---------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
1. 325 pence 183,153
---------- ----------
2. 210 pence 50,000
---------- ----------
3. 210 pence 50,000
---------- ----------
---------------------------------
e) Aggregated information: N/A (Single transaction for
i. Aggregated volume each individual)
ii. price
---------------------------------
f) Date of the transaction 26 February 2021
---------------------------------
g) Place of the transaction Outside a trading venue
---------------------------------
For further information please contact:
Inspecs Group plc via FTI Consulting
Robin Totterman (CEO) Tel: +44 (0) 20
Chris Kay (CFO) 3727 1000
Peel Hunt (Nominated Adviser and Broker) Tel: +44 (0) 20
Adrian Trimmings 7418 8900
Andrew Clark
Will Bell
FTI Consulting (Financial PR) Tel: +44 (0) 20
Alex Beagley 3727 1000
Fern Duncan
Alice Newlyn
About Inspecs Group plc
Inspecs is a Bath-based designer, manufacturer and distributor
of eyewear frames and optically advanced spectacle lenses. The
Group produces a broad range of frames and lenses, covering
optical, sunglasses and safety, which are either "Branded" (either
under licence or under the Group's own proprietary brands), or
"OEM" (including private label on behalf of retail customers and
un-branded).
In December 2020, Inspecs acquired Eschenbach Optik, a leading,
global, eyewear supplier headquartered in Nürnberg, Germany, which
includes the American company Tura. The acquisition extended the
Group's presence internationally in key global markets. This
followed the acquisition of lens maker Norville in July 2020,
whereby Inspecs combined two heritage brands in British optical,
Savile Row frame maker, and Norville lens maker, further enhancing
its vertically integrated business model. As one of only a few
companies that can offer this one-stop-shop solution to global
retail chains, Inspecs is well positioned to continue to take
market share in the globally expanding eyewear market.
Inspecs customers include global optical and non-optical
retailers, global distributors and independent opticians, with its
distribution network covering over 80 countries and reaching
approximately 40,000 points of sale. In FY19, the Group generated
24.9% of its revenue in the UK and 75.1% internationally.
Today Inspecs has operations across the globe: with offices in
the UK, Portugal, Scandinavia, the US and China (Hong Kong, Macau
and Shenzhen), and manufacturing facilities in Vietnam, China,
London and more recently, Italy. With the acquisition of Eschenbach
Optik, the Group's international reach further extends to Germany,
France, Spain, Japan and Poland.
The Group's growth strategy going forward is to: (i) continue to
grow organically; (ii) undertake further acquisitions (and drive
value through leveraging the Group's internal capabilities); and
(iii) extend the Group's manufacturing capacity.
More information is available at: https://inspecs.com
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