FOR IMMEDIATE RELEASE
24 February 2023
SOLID STATE PLC
("Solid State", the "Company" or the "Group")
Exercise of Options, Director Dealing and Total Voting Rights
Solid State plc (AIM: SOLI), the AIM listed manufacturer of computing, power and communications products, and value added supplier of electronic components, announces that on 24 February 2023, options over a total of 24,000 ordinary shares of 5p each in Solid State Plc ("Ordinary Shares") were exercised under the Enterprise Management Incentive Scheme at an exercise price of 0.1p by Gary Marsh, Chief Executive Officer, Pete James, Chief Financial Officer and John Macmichael, Director.
The Company has also been notified that on 24 February 2023, 1,200 Ordinary Shares were sold by Mrs Laura Marsh (the spouse of Gary Marsh) to cover the costs associated with the exercise of options. In addition, it has been notified that on 24 February 2023, Pete James and John Macmichael sold 1,200 Ordinary Shares each to cover the costs associated with the exercise of options.
Details of the exercise of option and sale of shares are set out below:
| Director | Title | Number of options exercised | Number of Ordinary Shares Sold | Total number of ordinary shares held post the exercise and sale | % of total voting rights following the exercise of options** |
| Gary Marsh | CEO | 8,000 | 1,200* | 288,676 | 2.5% |
| Pete James | CFO | 8,000 | 1,200 | 12,445 | 0.1% |
| John Macmichael | Director | 8,000 | 1,200 | 131,242 | 1.2% |
Notes
* sold by Laura Marsh, spouse of Gary Marsh
**the shareholdings of the Directors and their spouses
Application has been made for the admission of the 24,000 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 at 8.00 a.m. on 27 February 2023.
Total Voting Rights
Following Admission, the Company's issued share capital will consist of 11,346,394 Ordinary Shares of which 21,946 Ordinary Shares are held in treasury. Therefore, the total number of voting rights in the Company is 11,324,448. 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 Disclosure and Transparency Rules.
For further information please contact:
| Solid State plc | |
| Gary Marsh - Chief Executive Peter James - Group Finance Director | Via Walbrook |
| | |
| WH Ireland (Nominated Adviser & Joint Broker) | 020 7220 1666 |
| Mike Coe / Sarah Mather (Corporate Finance) Fraser Marshall (Corporate Broking / Sales)
| |
| finnCap (Joint Broker) Ed Frisby (Corporate Finance)
Rhys Williams / Tim Redfern (Sales / ECM) | 020 7220 0500 |
| | |
| Walbrook PR (Financial PR) | 020 7933 8780 |
| Tom Cooper / Nick Rome | 0797 122 1972 |
| |
solidstate@walbrookpr.com |
| 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 | ||||||
| c)
| Price(s) and volume(s)
|
| ||||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
8,000
£8.00 | ||||||
| e)
| Date of the transaction
| 24 February 2023
| ||||||
| f)
| Place of the transaction
| London Stock Exchange, AIM | ||||||
| 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
| Exercise of Options | ||||||
| c)
| Price(s) and volume(s)
|
| ||||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
8,000
£8.00 | ||||||
| e)
| Date of the transaction
| 24 February 2023
| ||||||
| f)
| Place of the transaction
| London Stock Exchange, AIM | ||||||
| 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 | ||||||
| c)
| Price(s) and volume(s)
|
| ||||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
8,000
£8.00 | ||||||
| e)
| Date of the transaction
| 24 February 2023
| ||||||
| f)
| Place of the transaction
| London Stock Exchange, AIM | ||||||
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||
| Name | Peter James | ||||||
| Reason for the notification
| |||||||
| Position/status
| Chief Financial Officer | ||||||
| Initial notification /Amendment
| Initial Notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||
| Name
| Solid State plc | ||||||
| LEI | 213800QUHS9QTN5T1P62 | ||||||
| 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
| |||||||
| Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5p each
GB0008237132
| ||||||
| Nature of the transaction
| Sale of Shares | ||||||
| Price(s) and volume(s)
|
| ||||||
| Aggregated information
- Aggregated volume
- Price
|
1,200
£15,720
| ||||||
| Date of the transaction
| 24 February 2023
| ||||||
| Place of the transaction
| London Stock Exchange, AIM | ||||||
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||
| Name | Laura Marsh | ||||||
| Reason for the notification
| |||||||
| Position/status
| PCA (Spouse of Gary Marsh, CEO) | ||||||
| Initial notification /Amendment
| Initial Notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||
| Name
| Solid State plc | ||||||
| LEI | 213800QUHS9QTN5T1P62 | ||||||
| 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
| |||||||
| Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5p each
GB0008237132
| ||||||
| Nature of the transaction
| Sale of Shares | ||||||
| Price(s) and volume(s)
|
| ||||||
| Aggregated information
- Aggregated volume
- Price
|
1,200
£15,720
| ||||||
| Date of the transaction
| 24 February 2023
| ||||||
| Place of the transaction
| London Stock Exchange, AIM | ||||||
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||
| Name | John Macmichael | ||||||
| Reason for the notification
| |||||||
| Position/status
| Divisional Managing Director | ||||||
| Initial notification /Amendment
| Initial Notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||
| Name
| Solid State plc | ||||||
| LEI | 213800QUHS9QTN5T1P62 | ||||||
| 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
| |||||||
| Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5p each
GB0008237132
| ||||||
| Nature of the transaction
| Sale of Shares | ||||||
| Price(s) and volume(s)
|
| ||||||
| Aggregated information
- Aggregated volume
- Price
|
1,200
£15,720
| ||||||
| Date of the transaction
| 24 February 2023
| ||||||
| Place of the transaction
| London Stock Exchange, AIM | ||||||
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