Volution Group plc Director/PDMR Shareholding (4009E)

TIDMFAN

RNS Number : 4009E

Volution Group plc

17 October 2018

Wednesday 17 October 2018

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 markets, today announces that on 17 October 2018 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                            328,552       39,248 
                                  ------------  ------------ 
 Ian Dew, Chief Financial 
  Officer                            186,662       26,759 
                                  ------------  ------------ 
 

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 17 October 2023 (which includes a two year holding period) and the options will lapse on 18 October 2028.

The LTIP awards will vest subject to the achievement of performance against Earnings per Share growth targets and relative Total Shareholder Return (against a direct peer group), 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 GBP1.865 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, under the Company's Annual Bonus Plan for the financial year ended 31 July 2018, one third of any bonus payment 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, have a normal vesting date of 17 October 2021. 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                          5,632,833   1,226,226     74,900 
                                  ----------  ------------  ------------ 
 Ian Dew, Chief Financial 
  Officer                          855,327     777,182       51,352 
                                  ----------  ------------  ------------ 
 

* Includes vested (but unexercised) and unvested LTIP Awards. LTIP Awards which remain unvested are subject to performance criteria.

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                               [phone] 

Legal Entity Identifier: 213800EPT84EQCDHO768.

Note to Editors:

Volution Group plc (LSE: FAN) is a leading supplier of ventilation products to the residential and commercial construction markets in the UK, the Nordics, Central Europe and Australasia.

The Volution Group operates through two divisions: the Ventilation Group and the OEM (Torin-Sifan) division. The Ventilation Group comprises 15 key brands - Vent-Axia, Manrose, Diffusion, National Ventilation, Airtech, Breathing Buildings, Fresh, PAX, VoltAir, Welair, Kair, Air Connection, inVENTer, Ventilair and Simx, focused primarily on the UK, the Nordic, Central European and Australasian ventilation markets. The Ventilation Group principally supplies ventilation products for residential and commercial ventilation applications. The OEM (Torin-Sifan) division 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: 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      328,552 
                                               ---------- 
 
 
                                   DSBP: Price(s)    Volume(s) 
                                    GBPNIL      39,248 
                                               ---------- 
     --------------------------  ----------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume          LTIP: 328,552 ordinary shares at 
       - Price                      GBPNIL 
                                    DSBP: 39,248 ordinary shares at GBPNIL 
     --------------------------  ----------------------------------------- 
 e)   Date of the transaction     17 October 2018 
     --------------------------  ----------------------------------------- 
 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                         Ian Dew 
     --------------------------  ----------------------------------------- 
 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      186,662 
                                               ---------- 
 
 
                                   DSBP: Price(s)    Volume(s) 
                                    GBPNIL      26,759 
                                               ---------- 
     --------------------------  ----------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume          LTIP: 186,662 ordinary shares at 
       - Price                      GBPNIL 
                                    DSBP: 26,759 ordinary shares at GBPNIL 
     --------------------------  ----------------------------------------- 
 e)   Date of the transaction     17 October 2018 
     --------------------------  ----------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  ----------------------------------------- 
 

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October 17, 2018 12:35 ET (16:35 GMT)