REG - Volution Group plc - LTIP and DSBP Awards

VolutionAnnouncement

17/10/2024 17:45

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RNS Number : 6722I  Volution Group plc  17 October 2024

 

17 October 2024

 

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 16 October 2024 the Executive Directors
were granted awards under the Company's 2023 Long Term Incentive Plan ("LTIP
awards") and 2023 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)  143,046                5 years from grant (2)

 Chief Executive Officer

 Andy O'Brien,             Nil-cost option (1)  81,618                 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 targets measured over a
three-year performance period.

 

Due to the timing of the proposed acquisition of the Fantech group of
companies in Australasia (which remains subject to anti-trust approval), the
Company's Remuneration Committee ("Committee") was not in a position to
approve the targets at the time of grant. These targets will be set once the
impact of the acquisition on the LTIP measures and targets has been assessed
in more detail. The measures and targets will be disclosed in full on the
Company's website once approved by the Committee.

 

The price used to calculate the number of LTIP awards was £6.0817 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  38,024

 Andy O'Brien, Chief Financial Officer   26,034

 

As set out in the Volution Remuneration Policy, under the Company's Annual
Bonus Plan for the financial year ended 31 July 2024, 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 16
October 2027. 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      143,046

 

                                                                   DSBP:

Price(s)  Volume(s)
                                                                   £NIL      38,024
 d)   Aggregated information

      - Aggregated volume                                          LTIP: 143,046 ordinary shares at £NIL

      - Price                                                      DSBP: 38,024 ordinary shares at £NIL

 e)   Date of the transaction                                      16 October 2024

 f)   Place of the transaction                                     Outside a trading venue

 

DSBP:

 Price(s)  Volume(s)
 £NIL      38,024

d)

 

Aggregated information

 

- Aggregated volume

- Price

 

 

LTIP: 143,046 ordinary shares at £NIL

DSBP: 38,024 ordinary shares at £NIL

 

e)

 

Date of the transaction

 

16 October 2024

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      81,618

                                                                   DSBP
                                                                   Price(s)  Volume(s)
                                                                   £NIL      26,034
 d)   Aggregated information

      - Aggregated volume                                          LTIP: 81,618 ordinary shares at £NIL

      - Price                                                      DSBP: 26,034 ordinary shares at £NIL

 e)   Date of the transaction                                      16 October 2024

 f)   Place of the transaction                                     Outside a trading venue

d)

 

Aggregated information

 

- Aggregated volume

- Price

 

 

LTIP: 81,618 ordinary shares at £NIL

DSBP: 26,034 ordinary shares at £NIL

 

 

e)

 

Date of the transaction

 

16 October 2024

f)

 

Place of the transaction

 

Outside a trading venue

 

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