Volution Group plc Director/PDMR Shareholding (7605V)
October 30 2014 - 11:14AM
UK Regulatory
TIDMFAN
RNS Number : 7605V
Volution Group plc
30 October 2014
Thursday 30 October 2014
Volution Group plc
Awards under the Company's Long Term Incentive Plan
Volution Group plc ("Volution" or the "Company", LSE: FAN), a
leading supplier of ventilation products to the residential
construction market, today announces that on 29 October 2014 the
Executive Directors were granted awards under the Company's 2014
Long Term Incentive Plan ("LTIP awards"). These are the first
awards to be made to the Executive Directors under the LTIP since
the Company was listed on the London Stock Exchange on 23 June
2014.
Executive Director Nil-cost options awarded
Ronnie George, Chief Executive
Officer 243,325
-------------------------
Ian Dew, Chief Financial
Officer 173,804
-------------------------
The LTIP awards were made in the form of nil-cost options, which
will, subject to the rules of the LTIP, vest following the
Remuneration Committee's determination of the extent to which
performance conditions applicable to the awards have been
satisfied. To the extent the performance conditions have been
satisfied, the nil-cost options will have a normal vesting date of
29 October 2017 and the last date of exercise shall be 29 October
2024, subject to the individual's ongoing employment.
The LTIP awards will vest subject to the achievement of
performance against relative Total Shareholder Return (against two
comparator groups) and Earnings per Share growth targets, measured
over a three year performance period. The amounts shown above
represent the maximum number of nil-cost options which could
vest.
The price used to calculate the number of LTIP awards was
GBP1.4384 per ordinary share, being the average of the mid-market
closing price of a Volution ordinary share on the three consecutive
business days immediately preceding the date of grant. The LTIP
awards were made for GBPnil consideration.
This announcement is made in accordance with Disclosure and
Transparency Rule 3.1.4. Volution was notified of the above
transactions on 29 October 2014.
-ends-
Enquiries:
Volution Group plc
Michael Anscombe, Company Secretary +44 (0) 1293 441562
Notes to Editors
Volution Group plc (LSE: FAN) is a leading supplier of
ventilation products to the residential construction market in the
UK, Sweden and Germany.
The Group sold approximately 20 million ventilation products and
accessories in the financial year ended 31 July 2014. It consists
of five key brands, focused primarily on the UK, Swedish and German
ventilation markets - Vent-Axia, Manrose, Fresh, PAX and inVENTer -
and operates through two divisions: the Ventilation Group, which
principally supplies ventilation products for residential
construction applications in the UK, Sweden and Germany and
ventilation products for commercial construction applications in
the UK; and OEM (Torin-Sifan), which supplies motors, fans and
blowers to OEMs of heating and ventilation products for both
residential and commercial construction applications in Europe.
For more information, please go to:
http://www.volutiongroupplc.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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