REG - Thruvision Group PLC - Award of Share Options to Executive Directors

ThruvisionAnnouncement

30/11/2021 17:40

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RNS Number : 1062U  Thruvision Group PLC  30 November 2021

 

30 November 2021

Thruvision Group plc

 

 

Award of Share Options to Executive Directors

 

Thruvision Group plc (AIM: THRU), ("Thruvision" ) the leading provider of safe
distance people-screening technology to the international security market,
announces that on 30 November 2021, Colin Evans (Chief Executive) and Adrian
Crockett (Finance Director) were awarded options under the Company Long Term
Incentive Plan ("LTIP").

On 30 November 2021 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
 Colin Evans      Unapproved            800,000                                           £0.1875                  £150,000               30 November 2024
 Adrian Crockett  EMI - Tax approved    200,000                                           £0.1875                  £37,500                30 November 2024

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 addition, the vesting of the awards are subject to the achievement of a
challenging performance condition relating to revenue in the three year period
ending 31 March 2024.

In total 2,370,000 awards were made over ordinary shares of 1 pence in
Thruvision Group plc to 16 employees on 30 November 2021.

The notification in appendix 1 to this announcement, made in accordance with
the requirements of the  Market Abuse Regulation, provides further detail:

 

For further information please contact:

 

Thruvision Group
plc
+44 (0)1235 436180

Tom Black, Executive Chairman

Colin Evans, Chief Executive

 

Investec Bank plc
                                               +44
(0)20 7597 5970

James Rudd / Sebastian Lawrence / Patrick Robb

 

FTI Consulting
LLP
+44 (0)20 3727 1000

Matt Dixon / Tom Blundell

 

 

 

About Thruvision

Thruvision is the leading provider of safe distance people-screening
technology. Using patented passive terahertz technology, Thruvision is
uniquely capable of detecting metallic and non-metallic threats including
weapons, explosives and contraband items that are hidden under clothing, at
distances between 3 and 10m. Addressing the growing need for fast, safe and
effective security, Thruvision completely removes the need for physical
"pat-downs" and has been vetted and approved by the US Transportation Security
Administration for surface transportation. Operationally deployed in 20
countries around the world, Thruvision is used for aviation and transportation
security, retail supply chain loss prevention, facilities and public area
protection and customs and border control. The company has offices near Oxford
and Washington DC.

 

 

www.thruvision.com (http://www.thruvision.com)

 

 

Appendix 1

 

 

 1.   Details of the person discharging managerial responsibilities/person closely
      associated
 (a)  Name                                             Colin Evans
 2.   Reason for the notification
 (a)  Position/status                                  Chief Executive
 (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 non-tax advantaged option
                                                       award over 800,000 Ordinary Shares of 1 pence each in Thruvision Group plc.

                                                       The award was granted with an option price of £0.1875 per share and will
                                                       ordinarily become exercisable three years from the date of grant, subject to
                                                       the grantee's continued service and satisfaction of the Performance Condition,
                                                       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                                       800,000

 (e)  Aggregated information                           N/A

      -              Aggregated volume

      -              Price

 (f)  Date of the transaction                          30 November 2021
 (g)  Place of the transaction                         Outside a trading venue

 

 

 

 1.   Details of the person discharging managerial responsibilities/person closely
      associated
 (a)  Name                                             Adrian Crockett
 2.   Reason for the notification
 (a)  Position/status                                  Finance 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 a tax advantaged Enterprise
                                                       Management Incentive Award was granted over 200,000 Ordinary Shares of 1pence
                                                       each in Thruvision Group plc.

                                                       The award was granted with an option price of £0.1875 per share and will
                                                       ordinarily become exercisable three years from the date of grant, subject to
                                                       the grantee's continued service and satisfaction of the Performance Condition,
                                                       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                                       200,000

 (e)  Aggregated information                           N/A

      -              Aggregated volume

      -              Price

 (f)  Date of the transaction                          30 November 2021
 (g)  Place of the transaction                         Outside a trading venue

 

 

 

 

 

 

 

 

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