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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Volution Group Plc | LSE:FAN | London | Ordinary Share | GB00BN3ZZ526 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-3.00 | -0.60% | 500.00 | 500.00 | 502.00 | 503.00 | 498.50 | 501.00 | 41,251 | 09:20:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Equip Rental & Leasing, Nec | 328.01M | 37.37M | 0.1889 | 26.47 | 994.9M |
TIDMFAN
RNS Number : 5270G
Volution Group plc
20 November 2015
20 November 2015
Volution Group plc
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 supplier of ventilation products to the residential and commercial construction market, today announces that on 19 November 2015 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 follows:
Executive Director LTIP awards DSBP awards -------------------------- ------------ ------------ Ronnie George, Chief Executive Officer 188,533 4,666 -------------------------- ------------ ------------ Ian Dew, Chief Financial Officer 134,666 3,333 -------------------------- ------------ ------------
The LTIP awards were made in the form of nil-cost options, which will, subject to the rules of the LTIP, vest following the Remuneration Committee's determination of the extent to which performance conditions applicable to the awards have been satisfied. To the extent the performance conditions have been satisfied, the nil-cost options will have a normal vesting date of 19 November 2018 and the last date of exercise shall be 19 November 2025, subject to the individual's ongoing employment.
The LTIP awards will vest subject to the achievement of performance against relative Total Shareholder Return (against two comparator groups) and Earnings per Share growth targets, measured over a three year performance period. The amounts shown above represent the maximum number of nil-cost options which could vest.
The price used to calculate the number of LTIP awards was GBP1.875 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.
As set out in the Remuneration Policy in the Annual Report and Accounts 2015, under the Company's Annual Bonus Plan, 50% of any bonus payment above the target incentive (which is 60% of the maximum opportunity) earned by the Executive Directors will normally be deferred into awards over the Company's shares.
The DSBP awards were made in the form of a Conditional Award, which will, subject to the rules of the DSBP and have a normal vesting date of 19 November 2018. No consideration was paid for the DSBP awards and no consideration is due to be payable on vesting.
Following the LTIP awards and DSBP awards, the interests of the Chief Executive Officer and Chief Financial Officer are as follows:
Executive Director Shares LTIP awards DSBP awards * -------------------------- ---------- ------------ ------------ Ronnie George, Chief Executive Officer 5,622,833 431,858 4,666 -------------------------- ---------- ------------ ------------ Ian Dew, Chief Financial Officer 855,327 308,470 3,333 -------------------------- ---------- ------------ ------------
* unvested awards subject to performance criteria
This announcement is made in accordance with Disclosure and Transparency Rule 3.1.4. Volution was notified of the above transactions on 19 November 2015.
-ends-
Enquiries:
Volution Group plc
Michael Anscombe, Company Secretary +44 (0) 1293 441562
Note to Editors
Volution Group plc (LSE: FAN) is a leading supplier of ventilation products to the residential and commercial construction market in the UK and northern Europe.
The Group sold approximately 21 million ventilation products and accessories in the twelve months ended 31 July 2015. The Volution Group operates through two divisions: the Ventilation Group and the OEM (Torin-Sifan) division. The Ventilation Group consists of 7 key brands - Vent-Axia, Manrose, Fresh, PAX, inVENTer, Brüggemann and Ventilair focused primarily on the UK, Nordic, German and Benelux ventilation markets. The Ventilation Group principally supplies ventilation products for residential and commercial ventilation applications. The OEM division (Torin-Sifan), supplies motors, fans and blowers to OEMs of heating and ventilation products for both residential and commercial construction applications in Europe.
For more information, please go to: http://www.volutiongroupplc.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
November 20, 2015 12:14 ET (17:14 GMT)
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