Volution Group plc Director/PDMR Shareholding (3102D)

TIDMFAN

RNS Number : 3102D

Volution Group plc

18 October 2022

Tuesday 18 October 2022

Volution Group plc

Vesting of Share Awards under the Company's Deferred Share Bonus Plan

Volution Group plc ("Volution" or the "Company", LSE: FAN), a leading international designer and manufacturer of energy efficient indoor air quality solutions, announces that on 15 October 2022, the award granted under the Company's Deferred Share Bonus Plan (DSBP) on 15 October 2019 vested following the end of a three-year deferral period. This share award was not subject to performance conditions. No consideration was paid for the DSBP share award and no consideration was payable on vesting.

The following table shows the number of share awards vested and exercised, the number of shares sold to satisfy income tax, national insurance liability and dealing costs and the number of shares retained:

 
                     Number of      Number of shares           Price at      Number 
                      DSBP shares    sold to satisfy income     which each    of shares 
                      vesting        tax, national insurance    share sold    retained 
                      (1)            liability and dealing 
                                     costs 
 Ronnie George, 
  Chief Executive 
  Officer              44,518         21,535                     325 pence     22,983 
                    -------------  -------------------------  ------------  ----------- 
 

1. In accordance with the rules of the DSBP, dividend equivalent shares in respect of the period between grant and vesting were added to the vested share award. Ronnie George has sold sufficient shares to settle the income tax and NI liability due on vesting and retained the remainder of the shares.

Following the exercise, sale and retention of shares under the DSBP, the shareholding of the Chief Executive Officer is as follows:

 
                         Total holding of       % of issued share 
                          ordinary shares (1)    capital 
 Ronnie George, Chief 
  Executive Officer      2,670,116              1.35% 
                        ---------------------  ------------------ 
 

1. Total shareholding includes shares held by Ronnie George and Persons Closely Associated with him (spouse).

The attached notifications, made pursuant to Article 19(3) of the Market Abuse Regulation, provide further details.

-ends-

Enquiries:

Volution Group plc

Fiona Smith, Company Secretary

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   Vesting and exercise of conditional 
                                   share award under the Volution Deferred 
                                   Share Bonus Plan (DSBP), sale of 
                                   shares to fund the income tax, national 
                                   insurance and dealing costs and retention 
                                   of balance of shares. 
     --------------------------  ------------------------------------------------------ 
 c)   Price(s) and volume(s)      DSBP :                        Price(s)      Volume(s) 
                                    Acquisition of 
                                     shares on exercise 
                                     of DSBP 2019 
                                     Award.                GBPNil        44,518 
 
                                     Sale of shares 
                                     to satisfy income 
                                     tax, national          325 pence     21,535 
                                     insurance and          per share 
                                     dealing costs. 
 
                                     Retention of 
                                     shares.                GBPNil        22,983 
                                                          ------------  ---------- 
     --------------------------  ------------------------------------------------------ 
 d)   Aggregated information      Aggregated volume: 
 
       - Aggregated volume         Exercise 
       - Price                     Volume: 44,518 
                                   Price: GBPNil 
 
                                   Sale to cover income tax, national 
                                   insurance and dealing costs 
                                   Volume: 21,535 
                                   Price: 325 pence per share 
 
                                   Retention of shares 
                                   Volume: 22,983 
                                   Price: GBPNil 
     --------------------------  ------------------------------------------------------ 
 e)   Date of the transaction     17 October 2022 
     --------------------------  ------------------------------------------------------ 
 f)   Place of the transaction    Outside a trading venue (exercise 
                                   of conditional share award and retention 
                                   of shares) and London Stock Exchange, 
                                   Main Market (XLON) (sale of shares). 
     --------------------------  ------------------------------------------------------ 
 

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October 18, 2022 11:30 ET (15:30 GMT)