Volution Group plc Director/PDMR Shareholding (8554O)
October 12 2021 - 12:31PM
UK Regulatory
TIDMFAN
RNS Number : 8554O
Volution Group plc
12 October 2021
Tuesday 12 October 2021
Volution Group plc
Exercise of awards under the Company's Long Term Incentive
Plan
Volution Group plc ("Volution", "Group" or the "Company", LSE:
FAN), a leading international designer and manufacturer of energy
efficient indoor air quality solutions, announces that on 7 October
2021, nil-cost options awarded to the Chief Financial Officer on 15
October 2019 under the Volution Long Term Incentive Plan ("LTIP
2019 Awards") were exercised as set out below. The table shows the
number of nil-cost options exercised, the number of shares sold to
satisfy income tax, national insurance and dealing costs and the
number of shares retained:
LTIP 2019 Number of shares sold Price at Number of
Awards to satisfy income tax, which each shares retained
exercised national insurance share sold
liability and dealing
costs
Andy O'Brien
Chief Financial
Officer 34,722 16,361 460 pence 18,361
----------- ------------------------ ------------ -----------------
As outlined in the announcement dated 16 October 2019, Andy
O'Brien forfeited share awards on leaving his last employer. In
accordance with the Volution Remuneration Policy, the Remuneration
Committee approved the grant of additional awards to Andy O'Brien
to partially compensate him for remuneration forgone at his
previous employer. These LTIP awards were granted to replicate as
far as possible, the likely value and time horizons associated with
the share awards forfeited at his previous employer. The LTIP
awards were due to vest as follows: 50% on the first anniversary of
appointment (1 August 2020) and 50% on the second anniversary of
appointment (1 August 2021), subject to continued employment with
Volution and were not subject to any performance conditions,
reflecting the criteria of the forfeited share awards.
The Volution Employee Benefit Trust has transferred shares to
the Chief Financial Officer representing the number of shares
retained following the sale of shares to satisfy income tax,
national insurance and dealing costs.
Following the exercise, sale and retention of shares under the
LTIP, the shareholding of the Chief Financial Officer is as
follows:
Total holding of ordinary % of issued share
shares capital
Andy O'Brien, Chief Financial
Officer 37,886 0.02%
-------------------------- ------------------
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 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 Exercise of nil-cost options under
the Long Term Incentive Plan (LTIP),
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. GBPNil 34,722
Sale of shares
to satisfy income
tax, national 460 pence 16,361
insurance and per share
dealing costs.
Retention of
shares. GBPNil 18,361
------------ ----------
-------------------------- -------------------------------------------------
d) Aggregated information Aggregated volume:
- Aggregated volume Exercise
- Price Volume: 34,722
Price: GBPNil
Sale to cover income tax, national
insurance and dealing costs
Volume: 16,361
Price: 460 pence per share
Retention of shares
Volume: 18,361
Price: GBPNil
-------------------------- -------------------------------------------------
e) Date of the transaction 8 October 2021
-------------------------- -------------------------------------------------
f) Place of the transaction Outside a trading venue (exercise
of nil-cost options and retention
of shares) and London Stock Exchange,
Main Market (XLON) (sale of shares).
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END
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