TIDMFAN
RNS Number : 8391C
Volution Group plc
13 October 2022
Thursday 13 October 2022
Volution Group plc
Awards under Long Term Incentive Plan (LTIP) and Deferred Share
Bonus Plan (DSBP)
Volution Group plc ("Volution" or the "Company", LSE: FAN), a
leading international designer and manufacturer of energy efficient
indoor air quality solutions, today announces that on 12 October
2022 the Executive Directors were granted awards under the
Company's 2014 Long Term Incentive Plan ("LTIP awards") and 2014
Deferred Share Bonus Plan ("DSBP awards") as set out below:
Long Term Incentive Plan
Executive Director Type of LTIP Number of LTIP Earliest Exercise
Award awards Date
Ronnie George, Nil-cost option 229,582 5 years from grant
Chief Executive (1) (2)
Officer
---------------- --------------- -------------------
Andy O'Brien, Nil-cost option 133,881 5 years from grant
Chief Financial (1) (2)
Officer
---------------- --------------- -------------------
Notes:
(1.) Subject to performance criteria as set out below.
(2.) In accordance with the Volution Remuneration Policy, these
LTIP awards are subject to a three-year vesting period followed by
an additional two-year holding period before they can be
exercised.
The LTIP awards set out above are subject to performance
criteria and will vest subject to the achievement of performance
against Earnings per Share growth targets, relative Total
Shareholder Return (against a direct peer group) and ESG
performance measures, all measured over a three-year performance
period. Full details of the performance criteria will be included
in Volution's Directors' Remuneration Report for the financial year
ended 31 July 2022.
The price used to calculate the number of LTIP awards was
GBP3.0878 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. No
consideration was paid for the LTIP awards. The LTIP awards shown
above represent the maximum number of nil-cost options which could
vest.
Deferred Share Bonus Plan
DSBP award
Ronnie George, Chief Executive Officer 39,168
-----------
Andy O'Brien, Chief Financial Officer 27,409
-----------
As set out in the Volution Remuneration Policy in the Annual
Report and Accounts, under the Company's Annual Bonus Plan for the
financial year ended 31 July 2022, one third of any bonus payment
earned by the Executive Directors will normally be deferred into
awards over the Company's shares.
The DSBP awards set out above were made in the form of
conditional awards, which will, subject to the rules of the DSBP,
have a normal vesting date of 12 October 2025. No consideration was
paid for the DSBP awards and no consideration is due to be payable
on vesting.
The attached notifications, made pursuant to Article 19(3) of
the Market Abuse Regulation, provide further details.
-ends-
Legal Entity Identifier: 213800EPT84EQCDHO768.
Note to Editors:
Volution Group plc (LSE: FAN) is a leading international
designer and manufacturer of energy efficient indoor air quality
solutions. Volution Group comprises 19 key brands across three
regions:
UK: Vent-Axia, Manrose, Diffusion, National Ventilation,
Airtech, Breathing Buildings, Torin-Sifan.
Continental Europe: Fresh, PAX, VoltAir, Kair, Air Connection,
Rtek, inVENTer, Ventilair, ClimaRad, ERI Corporation.
Australasia: Simx, Ventair, Manrose.
For more information, please go to: www.volutiongroupplc.com
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Ronnie George
-------------------------- -----------------------------------------
Reason for the notification
2
---------------------------------------------------------------------
a) Position/status Chief Executive Officer
-------------------------- -----------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -----------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Volution Group plc
-------------------------- -----------------------------------------
b) LEI 213800EPT84EQCDHO768
-------------------------- -----------------------------------------
Details of the transaction(s): section to be repeated
4 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 Ordinary shares of 1 pence each
financial instrument,
type of instrument
ISIN: GB00BN3ZZ526
Identification code
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of nil-cost options under the
Volution Long Term Incentive Plan
(LTIP).
Grant of conditional awards under
the Volution Deferred Share Bonus
Plan (DSBP).
-------------------------- -----------------------------------------
c) Price(s) and volume(s) LTIP: Price(s) Volume(s)
GBPNIL 229,582
----------
DSBP: Price(s) Volume(s)
GBPNIL 39,168
----------
-------------------------- -----------------------------------------
d) Aggregated information
- Aggregated volume LTIP: 229,582 ordinary shares at
- Price GBPNIL
DSBP: 39,168 ordinary shares at GBPNIL
-------------------------- -----------------------------------------
e) Date of the transaction 12 October 2022
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Andy O'Brien
-------------------------- -----------------------------------------
Reason for the notification
2
---------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------- -----------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -----------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Volution Group plc
-------------------------- -----------------------------------------
b) LEI 213800EPT84EQCDHO768
-------------------------- -----------------------------------------
Details of the transaction(s): section to be repeated
4 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 Ordinary shares of 1 pence each
financial instrument,
type of instrument
ISIN: GB00BN3ZZ526
Identification code
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of nil-cost options under the
Volution Long Term Incentive Plan
(LTIP).
Grant of conditional awards under
the Volution Deferred Share Bonus
Plan (DSBP).
-------------------------- -----------------------------------------
c) Price(s) and volume(s) LTIP:
Price(s) Volume(s)
----------
GBPNIL 133,881
----------
DSBP
----------
Price(s) Volume(s)
----------
GBPNIL 27,409
----------
-------------------------- -----------------------------------------
d) Aggregated information
- Aggregated volume LTIP: 133,881 ordinary shares at
- Price GBPNIL
DSBP: 27,409 ordinary shares at GBPNIL
-------------------------- -----------------------------------------
e) Date of the transaction 12 October 2022
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
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END
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