REG - Volution Group plc - Director/PDMR Shareholding

VolutionAnnouncement

12/10/2023 12:30

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RNS Number : 9612P  Volution Group plc  12 October 2023

 

12 October 2023

 

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 11 October 2023 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)  226,571                5 years from grant (2)

 Chief Executive Officer

 Andy O'Brien,             Nil-cost option (1)  129,275                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 2023.

 

The price used to calculate the number of LTIP awards was £3.6743 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  37,723

 Andy O'Brien, Chief Financial Officer   26,398

 

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 2023, 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 11
October 2026. 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 22 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, VMI, I-Vent.

Australasia: Simx, Ventair, Manrose, DVS.

 

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      226,571

 

                                                                   DSBP:

Price(s)  Volume(s)
                                                                   £NIL      37,723
 d)   Aggregated information

      - Aggregated volume                                          LTIP: 226,571 ordinary shares at £NIL

      - Price                                                      DSBP: 37,723 ordinary shares at £NIL

 e)   Date of the transaction                                      11 October 2023

 f)   Place of the transaction                                     Outside a trading venue

 

DSBP:

 Price(s)  Volume(s)
 £NIL      37,723

d)

 

Aggregated information

 

- Aggregated volume

- Price

 

 

LTIP: 226,571 ordinary shares at £NIL

DSBP: 37,723 ordinary shares at £NIL

 

e)

 

Date of the transaction

 

11 October 2023

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      129,275

                                                                   DSBP
                                                                   Price(s)  Volume(s)
                                                                   £NIL      26,398
 d)   Aggregated information

      - Aggregated volume                                          LTIP: 129,275 ordinary shares at £NIL

      - Price                                                      DSBP: 26,398 ordinary shares at £NIL

 e)   Date of the transaction                                      11 October 2023

 f)   Place of the transaction                                     Outside a trading venue

d)

 

Aggregated information

 

- Aggregated volume

- Price

 

 

LTIP: 129,275 ordinary shares at £NIL

DSBP: 26,398 ordinary shares at £NIL

 

 

e)

 

Date of the transaction

 

11 October 2023

f)

 

Place of the transaction

 

Outside a trading venue

 

 

 

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