REG - Volution Group plc - Director/PDMR Shareholding

VolutionAnnouncement

14/10/2021 16:15

RNS Number : 1453P
  
Volution Group plc
  
14 October 2021
  
 

 
 
Thursday 14 October 2021
 
Volution Group plc
 
Awards under Long Term Incentive Plan (LTIP) and Deferred Share Bonus Plan (DSBP)
 
LTIP incorporates new ESG Performance Measures  
 
 
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 13 October 2021 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, 
Chief Executive Officer
 


Nil-cost option 1


141,310


5 years front grant 2




Andy O'Brien, 
Chief Financial Officer
 


Nil-cost option 1


82,405


5 years from grant 2




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 new ESG performance measures, all measured over a three year performance period.
 
Volution is committed to its purpose of providing "healthy air, sustainably" and to the importance of environmental, social and governance (ESG) measures in meeting its purpose. As such, ESG measures have been added to the performance criteria for these LTIP awards and will represent 20% of the maximum opportunity. The new ESG measures will focus on two targets and are linked to the 2025 goals we have already communicated externally: optimising recycled plastics in Volution's manufactured products and increasing the low-carbon credentials in the product portfolio measured as a percentage of revenue.
 
The price used to calculate the number of LTIP awards was £4.6667 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
 


37,383




Andy O'Brien, Chief Financial Officer
 


26,160




 
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 2021, one third of any bonus payment earned by the Executive Directors will normally be deferred into awards over the Company's shares.
 
The DSBP award set out above was made in the form of a conditional award, which will, subject to the rules of the DSBP, have a normal vesting date of 13 October 2024. No consideration was paid for the DSBP award 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-
 
Enquiries:
 
Volution Group plc
Michael Anscombe, Company Secretary                               +44 (0) 1293 441562
 
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
 
 
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 
 
Identification code 
 


Ordinary shares of 1 pence each
 
 
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


141,310




 
DSBP:




Price(s)


Volume(s)




£NIL 


37,383




 




d) 
 


Aggregated information 
 
- Aggregated volume 
- Price 


 
 
LTIP: 141,310 ordinary shares at £NIL
DSBP: 37,383 ordinary shares at £NIL
 




e) 
 


Date of the transaction 
 


13 October 2021




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 
 
Identification code 
 


Ordinary shares of 1 pence each
 
 
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


82,405




 
DSBP


 




Price(s)


Volume(s)




£NIL 


26,160




 




d) 
 


Aggregated information 
 
- Aggregated volume 
- Price 


 
 
LTIP: 82,405 ordinary shares at £NIL
DSBP: 26,160 ordinary shares at £NIL
 
 




e) 
 


Date of the transaction 
 


13 October 2021




f) 
 


Place of the transaction 
 


Outside a trading venue




 
 
 

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