Company Announcements

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.

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.

For further information please contact:

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