Thruvision Group PLC Award of Share Options to Executive Director (2648Z)

TIDMTHRU

RNS Number : 2648Z

Thruvision Group PLC

10 January 2024

10 January 2024

Thruvision Group plc

Award of Share Options to Executive Director

Thruvision Group plc (AIM: THRU), ("Thruvision" ) the leading provider of walk-through security technology , announces that on 10 January 2024, Victoria Balchin (Chief Financial Officer) was awarded options under the Company Long Term Incentive Plan ("LTIP").

On 10 January 2024 the following awards over ordinary shares of 1 pence in Thruvision Group plc were granted under the Thruvision Group plc Long Term Incentive Plan to the Executive Director detailed below.

 
 Name       Type of option        No of shares   Exercise      Market      Date of 
             award                   awarded      price on    Value on      vesting 
                                                   award        award 
 Victoria   EMI - Tax approved/    1,000,000      GBP0.01    GBP187,500   10 January 
  Balchin    UK unapproved                                                   2027 
           --------------------  -------------  ----------  -----------  ----------- 
 

The award was granted pursuant to a separate Award Agreement entered into between Thruvision Group plc and the Executive Director noted in the table above.

The award (regardless of whether it was granted as an EMI award or a non-tax advantaged award) will ordinarily become exercisable on the third anniversary of grant, subject to the grantee's continued service with Thruvision and will remain exercisable at any point up until the tenth anniversary of the date of grant.

In total 2,950,000 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 6 employees on 10 January 2024 to retain and incentivise key members of the senior leadership team, with particular attention on recent hires to the organisation.

The notification in Appendix 1 to this announcement, made in accordance with the requirements of the Market Abuse Regulation, provides further detail:

For further information please contact:

 
 Thruvision Group plc 
  Colin Evans, Chief Executive 
  Victoria Balchin, Chief Financial 
  Officer                                  [phone] 
 
 Investec Investment Banking (NOMAD 
  & Broker) 
  James Rudd / Patrick Robb / Sebastian 
  Lawrence                                 [phone] 
 
 Meare Consulting 
  Adrian Duffield                          [phone] 
 
 

About Thruvision ( www.thruvision.com)

Thruvision is the leading developer, manufacturer and supplier of walk-through security technology. Its technology is deployed in more than 20 countries around the world by government and commercial organisationsin a wide range of security situations, where large numbers of people need to be screened quickly, safely and efficiently. Thruvision's patented technology is uniquely capable of detecting concealed objects in real time using an advanced AI-based detection algorithm. The Group's offices are near Oxford and Washington DC

Appendix 1

 
 1.     Details of the person discharging managerial responsibilities/person 
         closely associated 
 (a)    Name                                       Victoria Balchin 
       -----------------------------------------  -------------------------------------------------- 
 2.     Reason for the notification 
       --------------------------------------------------------------------------------------------- 
 (a)    Position/status                             Chief Financial Officer 
       -----------------------------------------  -------------------------------------------------- 
 (b)    Initial notification/                      Initial notification 
         Amendment 
       -----------------------------------------  -------------------------------------------------- 
 3.     Details of the issuer 
       --------------------------------------------------------------------------------------------- 
 (a)    Name                                       Thruvision Group plc 
       -----------------------------------------  -------------------------------------------------- 
 (b)    LEI                                        213800IZG9GM6G2TZE04 
       -----------------------------------------  -------------------------------------------------- 
 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 GBP0.01 each in Thruvision 
         Financial Instrument                       Group plc 
       -----------------------------------------  -------------------------------------------------- 
 (b)    Identification code                        GB00B627R876 
         of the Financial 
         Instrument 
       -----------------------------------------  -------------------------------------------------- 
 (c)    Nature of the transaction                  Entry into an Award Agreement pursuant 
                                                    to which a tax advantaged Enterprise 
                                                    Management Incentive Award was granted 
                                                    over 285,866 Ordinary Shares of 1 pence 
                                                    each in Thruvision Group plc and a non-tax 
                                                    advantaged option award over 714,134 
                                                    Ordinary Shares of 1 pence each in Thruvision 
                                                    Group plc. 
 
                                                    The award was granted with an option 
                                                    price of GBP0.01 per share and will 
                                                    ordinarily become exercisable three 
                                                    years from the date of grant, subject 
                                                    to the grantee's continued service, 
                                                    and once exercisable may be exercised 
                                                    at any point up until the tenth anniversary 
                                                    of the date of grant. 
       -----------------------------------------  -------------------------------------------------- 
 (d)    Price(s) and volume(s)                     Price(s)                  Volume(s) 
                                                  ------------------------  ------------------------ 
   nil                                                                       1,000,000 
  ------------------------------------------------------------------------  ------------------------ 
 (e)    Aggregated information                     N/A 
          *    Aggregated volume 
 
 
         - Price 
                                                  -------------------------------------------------- 
 (f)    Date of the transaction                    10 January 2024 
       -----------------------------------------  -------------------------------------------------- 
 (g)    Place of the transaction                   Outside a trading venue 
       -----------------------------------------  -------------------------------------------------- 
 

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January 10, 2024 05:39 ET (10:39 GMT)