REG - Volution Group plc - Director/PDMR Shareholding
13/10/2022 14:30
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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 Award Number of LTIP awards Earliest Exercise Date
Ronnie George, Nil-cost option (1) 229,582 5 years from grant (2)
Chief Executive Officer
Andy O'Brien, Nil-cost option (1) 133,881 5 years from grant (2)
Chief Financial 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 £3.0878 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
(http://www.volutiongroupplc.com)
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Ronnie George
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Volution Group plc
b) LEI 213800EPT84EQCDHO768
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, type of instrument Ordinary shares of 1 pence each
Identification code
ISIN: GB00BN3ZZ526
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)
£NIL 229,582
DSBP:
Price(s) Volume(s)
£NIL 39,168
d) Aggregated information
- Aggregated volume LTIP: 229,582 ordinary shares at £NIL
- Price DSBP: 39,168 ordinary shares at £NIL
e) Date of the transaction 12 October 2022
f) Place of the transaction Outside a trading venue
DSBP:
Price(s) Volume(s)
£NIL 39,168
d)
Aggregated information
- Aggregated volume
- Price
LTIP: 229,582 ordinary shares at £NIL
DSBP: 39,168 ordinary shares at £NIL
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
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Andy O'Brien
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Volution Group plc
b) LEI 213800EPT84EQCDHO768
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, type of instrument Ordinary shares of 1 pence each
Identification code
ISIN: GB00BN3ZZ526
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)
£NIL 133,881
DSBP
Price(s) Volume(s)
£NIL 27,409
d) Aggregated information
- Aggregated volume LTIP: 133,881 ordinary shares at £NIL
- Price DSBP: 27,409 ordinary shares at £NIL
e) Date of the transaction 12 October 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
LTIP: 133,881 ordinary shares at £NIL
DSBP: 27,409 ordinary shares at £NIL
e)
Date of the transaction
12 October 2022
f)
Place of the transaction
Outside a trading venue
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