REG - Thruvision Group PLC - Award of Share Options to Executive Directors <Origin Href="QuoteRef">THRU.L</Origin>

ThruvisionAnnouncement

18/01/2018 07:05

RNS Number : 1992C
Thruvision Group PLC
18 January 2018
18 January 2018
Thruvision Group plc
Award of Share Options to Executive Directors
Thruvision Group plc (AIM: THRU), ("Thruvision" the "Company") the specialist provider of people-screening technology to the global security market, announces that on 17 January 2018, Tom Black, (Executive Chairman), and Colin Evans (Managing Director) were awarded options under the Company Long Term Incentive Plan ("LTIP"). On 16 January 2018, Colin Evans (Managing Director) surrendered his current entitlement under the LTIP.
On 17 January 2018 the following awards over ordinary shares of 1 pence in Thruvision Group plc were granted under the Thruvision Group plc Long Term Incentive Plan to the Executive Directors detailed below.
Name
Type of option award
No of shares awarded 
Exercise price on award
Market Value on award
Date of vesting
Tom Black
EMI - Tax approved
585,175
0.1538
 89,999,91
17 January 2021
Colin Evans
EMI - Tax approved
1,625,487
0.1538
249,999.90
17 January 2021
Colin Evans
Unapproved
374,513
0.1538
 57,600.09
17 January 2021
The awards were granted pursuant to separate Award Agreements entered into between Thruvision Group plc and each Executive Director noted in the table above. 
Each award (regardless of whether it was granted as an EMI award or a non-tax advantaged award) will ordinarily become exercisable on the third anniversary of grant, subject to the grantee's continued service with the Thruvision group, and will remain exercisable at any point up until the tenth anniversary of the date of grant. 
In total 5,850,175 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 20 employees on 17 January 2018.
On 16 January 2018, in contemplation of the grant of the awards detailed above, Colin Evans surrendered all rights and entitlements in connection with the following nil cost awards over ordinary shares of 1 pence in Thruvision Group plc which were granted under the Thruvision Group plc Long Term Incentive Plan (formerly the Digital Barriers Plc Long Term Incentive Plan):
Type of Option award
Date of grant
Number of shares under award
Exercise price
Unapproved 
2 July 2015
500,000
Nil
Unapproved 
28 July 2016
250,000
Nil
The notification in appendix 1 to this announcement, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail: 
For further information please contact:
Thruvision Group plc
Tom Black, Executive Chairman
Colin Evans, Managing Director
+44 (0)20 3553 5888
Investec Bank plc (Financial Adviser, NOMAD & Broker)
Andrew Pinder / Sebastian Lawrence / Patrick Robb
+44 (0)20 7597 5970
FTI Consulting LLP
Edward Bridges / Matt Dixon / Harry Staight
+44 (0)20 3727 1000
About Thruvision
Thruvision Group plc is a specialist provider of people-screening technology that can safely see weapons, explosives and contraband hidden in peoples' clothing. Developed with extensive support from the British and US Governments, Thruvision technology is operationally proven and is being used to enhance the security of transport hubs, borders, high profile buildings and public areas.
www.thruvision.com
Appendix 1
1.
Details of the person discharging managerial responsibilities/person closely associated
(a)
Name
Tom Black
2.
Reason for the notification
(a)
Position/status
Executive Chairman
(b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer
(a)
Name
Thruvision Group plc
(b)
LEI
213800IZG9GM6G2TZE04
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 
Ordinary shares of 0.01 each in Thruvision Group plc
(b)
Identification code of the Financial Instrument
GB00B627R876
(c)
Nature of the transaction
Entry into an Award Agreement pursuant to which a tax advantaged Enterprise Management Incentive Award was granted over 585,175 Ordinary Shares of 1 pence each in Thruvision Group plc.
The award was granted with an option price of 0.1538 per share and will ordinarily become exercisable three years from the date of grant, subject to the grantee's continued service, and once exercisable may be exercised at any point up until the tenth anniversary of the date of grant.
(d)
Price(s) and volume(s)
Price(s)
Volume(s)


nil
585,175



(e)
Aggregated information
- Aggregated volume
-  Price
N/A
(f)
Date of the transaction
17 January 2018
(g)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities/person closely associated
(a)
Name
Colin Evans
2.
Reason for the notification
(a)
Position/status
Managing Director
(b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer
(a)
Name
Thruvision Group plc
(b)
LEI
213800IZG9GM6G2TZE04
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 
Ordinary shares of 0.01 each in Thruvision Group plc
(b)
Identification code of the Financial Instrument
GB00B627R876
(c)
Nature of the transaction
Entry into an Award Agreement pursuant to which the following option awards were granted under the Thruvision Group plc Long Term Incentive Plan:
(i)a tax advantaged Enterprise Management Incentive Award over 1,625,487 Ordinary Shares of 1 pence each in Thruvision Group plc; and
(ii) a non-tax advantaged award over 374,513 Ordinary Shares of 1 pence each in Thruvision Group plc. 
Each award was granted with an option price of 0.1538 per share and will ordinarily become exercisable three years from the date of grant, subject to the grantee's continued service, and once exercisable may be exercised at any point up until the tenth anniversary of the date of grant.
(d)
Price(s) and volume(s)
Price(s)
Volume(s)


nil
2,000,000



(e)
Aggregated information
- Aggregated volume
-  Price
N/A
(f)
Date of the transaction
17 January 2018
(g)
Place of the transaction
Outside a trading venue 
1.
Details of the person discharging managerial responsibilities/person closely associated
(a)
Name
Colin Evans
2.
Reason for the notification
(a)
Position/status
Managing Director
(b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer
(a)
Name
Thruvision Group plc
(b)
LEI
213800IZG9GM6G2TZE04
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 
Ordinary shares of 0.01 each in Thruvision Group plc
(b)
Identification code of the Financial Instrument
GB00B627R876
(c)
Nature of the transaction
Entry into a deed of surrender pursuant to which the following option awards held by Colin Evans under the Thruvision Group plc Long Term Incentive Plan were surrendered in full:
(iii) a non-tax advantaged option award over 500,000 Ordinary Shares of 1 pence each in Thruvision Group plc, granted on 2 July 2015 with an option price of nil; and 
(iv) a non-tax advantaged option award over 250,000 Ordinary Shares of 1 pence each in Thruvision Group plc, granted on 28 July 2016 with an option price of nil.
(d)
Price(s) and volume(s)
Price(s)
Volume(s)


nil
750,000



(e)
Aggregated information
- Aggregated volume
-  Price
N/A
(f)
Date of the transaction
16 January 2017
(g)
Place of the transaction
Outside a trading venue

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