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,
Chief
Executive Officer
|
Nil-cost
option 1
|
143,046
|
5 years
from grant 2
|
|
Andy
O'Brien,
Chief
Financial Officer
|
Nil-cost option
1
|
81,618
|
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 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
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
|
143,046
|
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
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
|
81,618
|
|
DSBP
|
|
|
Price(s)
|
Volume(s)
|
|
£NIL
|
26,034
|
|
|
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
|