TIDMFAN
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 Number of LTIP Earliest Exercise
Award awards Date
Ronnie George, Nil-cost option 141,310 5 years front grant
Chief Executive (1) (2)
Officer
---------------- --------------- --------------------
Andy O'Brien, Nil-cost option 82,405 5 years from grant
Chief Financial (1) (2)
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 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
GBP4.6667 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 Initial notification
/Amendment
-------------------------- -----------------------------------------
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 Ordinary shares of 1 pence each
financial instrument,
type of instrument
ISIN: GB00BN3ZZ526
Identification code
-------------------------- -----------------------------------------
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)
GBPNIL 141,310
----------
DSBP: Price(s) Volume(s)
GBPNIL 37,383
----------
-------------------------- -----------------------------------------
d) Aggregated information
- Aggregated volume LTIP: 141,310 ordinary shares at
- Price GBPNIL
DSBP: 37,383 ordinary shares at GBPNIL
-------------------------- -----------------------------------------
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 Initial notification
/Amendment
-------------------------- -----------------------------------------
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 Ordinary shares of 1 pence each
financial instrument,
type of instrument
ISIN: GB00BN3ZZ526
Identification code
-------------------------- -----------------------------------------
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)
----------
GBPNIL 82,405
----------
DSBP
----------
Price(s) Volume(s)
----------
GBPNIL 26,160
----------
-------------------------- -----------------------------------------
d) Aggregated information
- Aggregated volume LTIP: 82,405 ordinary shares at GBPNIL
- Price DSBP: 26,160 ordinary shares at GBPNIL
-------------------------- -----------------------------------------
e) Date of the transaction 13 October 2021
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
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END
DSHFLFIEIDLSLIL
(END) Dow Jones Newswires
October 14, 2021 11:10 ET (15:10 GMT)
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