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

ThruvisionAnnouncement

22/08/2023 12:00

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RNS Number : 1073K  Thruvision Group PLC  22 August 2023

22 August 2023

Thruvision Group plc

 

Award of Share Options to Executive Directors

Thruvision Group plc (AIM: THRU), ("Thruvision" ) the leading provider of
walk-through security technology, announces that on 22 August 2023, Colin
Evans (Chief Executive) and Victoria Balchin (Chief Financial Officer) were
awarded options under the Company Long Term Incentive Plan ("LTIP").

On 22 August 2023 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            1,000,000                                         £0.27                    £270,000               22 August 2026
 Victoria Balchin  EMI - Tax approved    400,000                                           £0.27                    £108,000               22 August 2026

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
challenging performance conditions relating to revenue and adjusted EBITDA.

In total 2,585,000 awards were made over ordinary shares of 1 pence in
Thruvision Group plc to 31 employees on 22 August 2023.

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 425400
 plc

 Colin Evans, Chief Executive

 Victoria Balchin, Chief Financial Officer

 Investec Investment Banking (NOMAD & Broker)                                  +44 (0)20 7597 5970

 James Rudd / Patrick Robb / Sebastian Lawrence

 Meare Consulting                                                              +44 (0) 7990 858548

 Adrian Duffield

 

About Thruvision (www.thruvision.com)

Thruvision is the leading developer, manufacturer and supplier of walk-through
security technology. Its technology is deployed in more than 20 countries
around the world by government and commercial organisations in a wide range of
security situations, where large numbers of people need to be screened
quickly, safely and efficiently. Thruvision's patented technology is uniquely
capable of detecting concealed objects in real time using an advanced AI-based
detection algorithm. The Group has offices and manufacturing capability in the
UK and US.

 

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 1,000,000 Ordinary Shares of 1 pence each in Thruvision Group
                                                       plc.

                                                       The award was granted with an option price of £0.27 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                                       1,000,000
 (e)  Aggregated information                           N/A

      -              Aggregated volume

      -              Price

 (f)  Date of the transaction                          22 August 2023
 (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 1 pence
                                                       each in Thruvision Group plc.

                                                       The award was granted with an option price of £0.27 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                          22 August 2023
 (g)  Place of the transaction                         Outside a trading venue

 

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