16 October 2024
Volution Group
plc
Vesting and Exercise of Share
Awards under the Company's
Long Term Incentive Plan and
Deferred Share Bonus Plan
Volution Group plc ("Volution" or
the "Company", LSE: FAN), a leading
international designer and manufacturer of energy efficient indoor
air quality solutions, announces that the
award granted under the Company's Deferred Share Bonus Plan (DSBP)
on 13 October 2021 vested following the end of a three-year
deferral period. This share award was not subject to performance
conditions. No consideration was paid for the DSBP share
award and no consideration was payable on vesting.
The following table shows the number
of share awards vested and exercised, the number of shares sold by
Andy O'Brien on 15 October 2024 to satisfy income tax, national
insurance liability and dealing costs, and the number of shares
retained:
|
|
Number of DSBP shares vesting
1
|
Number of shares sold to satisfy
income tax, national insurance liability and dealing
costs
|
Price at which each share
sold
|
Number of shares retained
|
|
Ronnie George, Chief Executive
Officer
|
39,444
|
Nil
|
n/a
|
39,444
|
|
Andy O'Brien, Chief Financial
Officer
|
27,602
|
13,006
|
£6.11
|
14,596
|
1. In accordance with the rules of the DSBP, dividend equivalent
shares in respect of the period between grant and vesting were
added to the vested share award. Andy O'Brien has sold sufficient
shares to settle the income tax and NI liability due on vesting and
retained the remainder of the shares.
On 15 October 2024, Andy O'Brien
also exercised the following LTIP options and sold sufficient
shares to satisfy income tax, national insurance liability and
dealing costs, with the balance being
retained:
|
Name
|
LTIP Grant Date
|
Number of Shares
Acquired1
|
Number of shares sold to satisfy
income tax, national insurance liability and dealing
costs
|
Price per Share
|
Number of Shares Retained
|
|
Andy O'Brien, Chief Financial
Officer
|
15 October 2019
|
214,910
|
101,261
|
£6.18
|
113,649
|
1.
In accordance with the rules of the LTIP,
additional shares equal in value to dividends paid during the
period between grant and vesting were added to the vested share
award.
The attached notification, made
pursuant to Article 19(3) of the Market Abuse Regulation, provides
further details.
-ends-
Enquiries:
Volution Group
plc
Fiona Smith, Company Secretary
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
|
Vesting and exercise of conditional
share award under the Volution Deferred Share Bonus Plan
(DSBP).
|
|
c)
|
Price(s) and volume(s)
|
DSBP:
|
|
Price(s)
|
Volume(s)
|
|
Acquisition of shares on exercise of
DSBP 2021 Award.
|
£Nil
|
39,444
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Aggregated volume:
Exercise
Volume: 39,444
Price: £Nil
|
|
e)
|
Date of the transaction
|
15 October 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue (exercise of
conditional share award and retention of shares) and London Stock
Exchange, Main Market (XLON) (sale of shares).
|
|
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
|
Vesting and exercise of conditional
share award under the Volution Deferred Share Bonus Plan (DSBP),
sale of shares to fund the income tax, national insurance and
dealing costs and retention of balance of shares.
|
|
c)
|
Price(s) and volume(s)
|
DSBP:
|
|
Price(s)
|
Volume(s)
|
|
Acquisition of shares on exercise of
DSBP 2021 Award.
Sale of shares to satisfy income
tax, national insurance and dealing costs.
Retention of shares.
|
£Nil
£6.11
£Nil
|
27,602
13,006
14,596
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Aggregated volume:
Exercise
Volume: 27,602
Price: £Nil
Sale to cover income tax, national
insurance and dealing costs
Volume: 13,006
Price: £6.11 per
share
Retention of shares
Volume: 14,596
Price: £Nil
|
|
e)
|
Date of the transaction
|
15 October 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue (exercise of
conditional share award and retention of shares) and London Stock
Exchange, Main Market (XLON) (sale of shares).
|
|
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
|
Vesting and exercise of LTIP options
under the Volution Long Term Incentive Plan, sale of shares to fund
the income tax, national insurance and dealing costs and retention
of balance of shares.
|
|
c)
|
Price(s) and volume(s)
|
|
|
Price(s)
|
Volume(s)
|
|
Acquisition of shares on exercise of
LTIP 2019 Award.
Sale of shares to satisfy income
tax, national insurance and dealing costs.
Retention of shares.
|
£Nil
£6.18
£Nil
|
214,910
101,261
113,649
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Aggregated volume:
Exercise
Volume: 214,910
Price: £Nil
Sale to cover income tax, national
insurance and dealing costs
Volume: 101,261
Price: £6.18 per
share
Retention of shares
Volume: 113,649
Price: £Nil
|
|
e)
|
Date of the transaction
|
15 October 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue (exercise of
conditional share award and retention of shares) and London Stock
Exchange, Main Market (XLON) (sale of shares).
|