Volution Group plc Director/PDMR Shareholding (8391C)

TIDMFAN

RNS Number : 8391C

Volution Group plc

13 October 2022

Thursday 13 October 2022

Volution Group plc

Awards under Long Term Incentive Plan (LTIP) and Deferred Share Bonus Plan (DSBP)

Volution Group plc ("Volution" or the "Company", LSE: FAN), a leading international designer and manufacturer of energy efficient indoor air quality solutions, today announces that on 12 October 2022 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      229,582       5 years from grant 
  Chief Executive      (1)                                (2) 
  Officer 
                     ----------------  ---------------  ------------------- 
 Andy O'Brien,        Nil-cost option      133,881       5 years from grant 
  Chief Financial      (1)                                (2) 
  Officer 
                     ----------------  ---------------  ------------------- 
 

Notes:

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

(2.) 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.

The LTIP awards set out above are subject to performance criteria and will vest subject to the achievement of performance against Earnings per Share growth targets, relative Total Shareholder Return (against a direct peer group) and ESG performance measures, all measured over a three-year performance period. Full details of the performance criteria will be included in Volution's Directors' Remuneration Report for the financial year ended 31 July 2022.

The price used to calculate the number of LTIP awards was GBP3.0878 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. The LTIP awards shown above represent the maximum number of nil-cost options which could vest.

Deferred Share Bonus Plan

 
                                           DSBP award 
 Ronnie George, Chief Executive Officer      39,168 
                                          ----------- 
 Andy O'Brien, Chief Financial Officer       27,409 
                                          ----------- 
 

As set out in the Volution Remuneration Policy in the Annual Report and Accounts, under the Company's Annual Bonus Plan for the financial year ended 31 July 2022, 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 set out above were made in the form of conditional awards, which will, subject to the rules of the DSBP, have a normal vesting date of 12 October 2025. No consideration was paid for the DSBP awards 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-

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

 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                         Ronnie George 
     --------------------------  ----------------------------------------- 
      Reason for the notification 
  2 
     --------------------------------------------------------------------- 
 a)   Position/status             Chief Executive Officer 
     --------------------------  ----------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  ----------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     --------------------------------------------------------------------- 
 a)   Name                        Volution Group plc 
     --------------------------  ----------------------------------------- 
 b)   LEI                         213800EPT84EQCDHO768 
     --------------------------  ----------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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      229,582 
                                               ---------- 
 
 
                                   DSBP: Price(s)    Volume(s) 
                                    GBPNIL      39,168 
                                               ---------- 
     --------------------------  ----------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume          LTIP: 229,582 ordinary shares at 
       - Price                      GBPNIL 
                                    DSBP: 39,168 ordinary shares at GBPNIL 
     --------------------------  ----------------------------------------- 
 e)   Date of the transaction     12 October 2022 
     --------------------------  ----------------------------------------- 
 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

 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                         Andy O'Brien 
     --------------------------  ----------------------------------------- 
      Reason for the notification 
  2 
     --------------------------------------------------------------------- 
 a)   Position/status             Chief Financial Officer 
     --------------------------  ----------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  ----------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     --------------------------------------------------------------------- 
 a)   Name                        Volution Group plc 
     --------------------------  ----------------------------------------- 
 b)   LEI                         213800EPT84EQCDHO768 
     --------------------------  ----------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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      133,881 
                                               ---------- 
 
                                     DSBP 
                                               ---------- 
                                    Price(s)    Volume(s) 
                                               ---------- 
                                    GBPNIL      27,409 
                                               ---------- 
     --------------------------  ----------------------------------------- 

 d)   Aggregated information 
 
       - Aggregated volume          LTIP: 133,881 ordinary shares at 
       - Price                      GBPNIL 
                                    DSBP: 27,409 ordinary shares at GBPNIL 
     --------------------------  ----------------------------------------- 
 e)   Date of the transaction     12 October 2022 
     --------------------------  ----------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  ----------------------------------------- 
 

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October 13, 2022 09:30 ET (13:30 GMT)