Filtronic PLC, a company specializing in the design and manufacture of products for aerospace, defense, space, and telecoms infrastructure markets, has announced the issuance of 358,915 new Ordinary Shares as a result of an exercise of options under the Company's Sharesave Plan. Notably, Michael Tyerman, the Chief Financial Officer, exercised Options over 58,290 Ordinary Shares, increasing his beneficial holding to 639,891 Ordinary Shares, representing 0.3 per cent of the Company's total issued share capital.
The Company has applied for the 358,915 new Ordinary Shares to be admitted to trading on AIM, with dealings expected to commence on 27 June 2024. These new Ordinary Shares will rank pari passu with the existing Ordinary Shares. Following Admission, the Company will have a total of 218,392,125 Ordinary Shares in issue, with none held in treasury.
The announcement also includes details of the PDMR dealing, provided in accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014. The notification outlines the person discharging managerial responsibilities, Michael Tyerman, and the nature of the transaction, which was an option exercise for 58,290 Ordinary Shares at a price of £0.0667 per share on 20 June 2024.
For further information, the Company has provided contact details for investor relations and the external PR agency.