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

ThruvisionAnnouncement

09/11/2022 07:00

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RNS Number : 7519F  Thruvision Group PLC  09 November 2022

 

9 November 2022

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 8 November 2022, Colin Evans (Chief Executive) and Victoria
Balchin (Chief Financial Officer) were awarded options under the Company Long
Term Incentive Plan ("LTIP").

On 8 November 2022 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                                           £0.221                   £176,800               8 November 2025
 Victoria Balchin  EMI - Tax approved    400,000                                           £0.221                   £88,400                8 November 2025

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 Thruvision 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 conditions relating to revenue and profit.

In total 2,500,000 awards were made over ordinary shares of 1 pence in
Thruvision Group plc to 32 employees on 8 November 2022.

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                                                              +44 (0)1235 436180
 plc

 Colin Evans, Chief Executive

 Tom Black, Executive Chairman

 Investec Bank plc                                                             +44 (0)20 7597 5970

 James Rudd / Patrick Robb / Sebastian Lawrence

 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 £0.221 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                          8 November 2022
 (g)  Place of the transaction                         Outside a trading venue

 

 1.   Details of the person discharging managerial responsibilities/person closely
      associated
 (a)  Name                                             Victoria Balchin
 2.   Reason for the notification
 (a)  Position/status                                   Chief Financial Officer
 (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 400,000 Ordinary Shares of 1pence
                                                       each in Thruvision Group plc.

                                                       The award was granted with an option price of £0.221 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                                       400,000

 (e)  Aggregated information                           N/A

      -              Aggregated volume

      -              Price

 (f)  Date of the transaction                          8 November 2022
 (g)  Place of the transaction                         Outside a trading venue

 

 

 

 

 

 

 

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