26th Feb 2021 07:00
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 | |||||||||||||
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a) Name |
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2. Reason for the notification |
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a) Position/status |
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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 instrument, type of instrument | Ordinary Shares of 1 pence | ||||||||||||
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) |
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e) Aggregated information: i. Aggregated volume ii. price | N/A (Single transaction for each individual) | ||||||||||||
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 Robin Totterman (CEO) Chris Kay (CFO)
| via FTI Consulting Tel: +44 (0) 20 3727 1000 |
Peel Hunt (Nominated Adviser and Broker) Adrian Trimmings Andrew Clark Will Bell | Tel: +44 (0) 20 7418 8900 |
FTI Consulting (Financial PR) Alex Beagley Fern Duncan Alice Newlyn | Tel: +44 (0) 20 3727 1000 |
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
Related Shares:
Inspecs Group