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FAN Volution Group Plc

434.60
7.00 (1.64%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
  7.00 1.64% 434.60 435.00 436.80 440.20 424.60 439.00 400,616 16:35:20
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Equip Rental & Leasing, Nec 328.01M 37.37M 0.1889 23.09 862.78M

Volution Group plc Director/PDMR Shareholding (1320Q)

16/10/2019 3:55pm

UK Regulatory


Volution (LSE:FAN)
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TIDMFAN

RNS Number : 1320Q

Volution Group plc

16 October 2019

Wednesday 16 October 2019

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 15 October 2019 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      356,846       5 years front grant 
  Chief Executive      (1)                                (3) 
  Officer 
                     ----------------  ---------------  ------------------------- 
 Andy O'Brien,        Nil-cost option      208,096       5 years from grant 
  Chief Financial      (1)                                (3) 
  Officer 
                     ----------------  ---------------  ------------------------- 
                      Nil-cost option       34,090       1 year from appointment 
                       (2) 
                     ----------------  ---------------  ------------------------- 
                      Nil-cost option       34,091       2 years from appointment 
                       (2) 
                     ----------------  ---------------  ------------------------- 
 

Notes:

(1.) Subject to performance criteria as set out below.

(2.) 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 will vest, subject to continued employment with Volution after the time period set out above and will not be subject to any performance conditions, reflecting the criteria of the forfeited share awards. He will be required to exercise these LTIP awards at the normal vesting date and hold at least 50% of the shares (after the deduction of income tax and national insurance) in order to build up a shareholding of 200% of base salary in accordance with the Volution Share Ownership Guidelines.

(3.) 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.

Those LTIP awards set out above which are subject to performance criteria 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 GBP1.76 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.

Deferred Share Bonus Plan

 
                                           DSBP award 
 Ronnie George, Chief Executive Officer      43,271 
                                          ----------- 
 

As set out in the Volution Remuneration Policy in the Annual Report and Accounts, under the Company's Annual Bonus Plan ("ABP") for the financial year ended 31 July 2019, 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 15 October 2022. 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 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, Kair, Air Connection, inVENTer, Ventilair, Simx and Ventair, 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      356,846 
                                               ---------- 
 
 
                                   DSBP: Price(s)    Volume(s) 
                                    GBPNIL      43,271 
                                               ---------- 
     --------------------------  ----------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume          LTIP: 356,846 ordinary shares at 
       - Price                      GBPNIL 
                                    DSBP: 43,271 ordinary shares at GBPNIL 
     --------------------------  ----------------------------------------- 
 e)   Date of the transaction     15 October 2019 
     --------------------------  ----------------------------------------- 
 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). 
     ----------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)        LTIP: Price(s)    Volume(s) 
                                      GBPNIL      276,277 
                                                 ---------- 
     ----------------------------  ------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume            LTIP: 276,277 ordinary shares at 
       - Price                        GBPNIL 
     ----------------------------  ------------------------------------- 
 e)   Date of the transaction       15 October 2019 
     ----------------------------  ------------------------------------- 
 f)   Place of the transaction      Outside a trading venue 
     ----------------------------  ------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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October 16, 2019 10:55 ET (14:55 GMT)

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