RNS Number : 1073K
Thruvision Group PLC
22 August 2023
 

22 August 2023

Thruvision Group plc

 

Award of Share Options to Executive Directors

Thruvision Group plc (AIM: THRU), ("Thruvision" ) the leading provider of walk-through security technology, announces that on 22 August 2023, Colin Evans (Chief Executive) and Victoria Balchin (Chief Financial Officer) were awarded options under the Company Long Term Incentive Plan ("LTIP").

On 22 August 2023 the following awards over ordinary shares of 1 pence in Thruvision Group plc were granted under the Thruvision Group plc Long Term Incentive Plan to the Executive Directors detailed below.

Name

Type of option award

No of shares awarded              

Exercise price on award

Market Value on award

Date of vesting

Colin Evans

Unapproved

1,000,000

£0.27

£270,000

22 August 2026

Victoria Balchin

EMI - Tax approved

400,000

£0.27

£108,000

22 August 2026

The awards were granted pursuant to separate Award Agreements entered into between Thruvision Group plc and each Executive Director noted in the table above.

Each award (regardless of whether it was granted as an EMI award or a non-tax advantaged award) will ordinarily become exercisable on the third anniversary of grant, subject to the grantee's continued service with Thruvision and will remain exercisable at any point up until the tenth anniversary of the date of grant.

In addition, the vesting of the awards are subject to the achievement of challenging performance conditions relating to revenue and adjusted EBITDA.

In total 2,585,000 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 31 employees on 22 August 2023.

The notification in Appendix 1 to this announcement, made in accordance with the requirements of the  Market Abuse Regulation, provides further detail:

For further information please contact:

 

Thruvision Group plc                                    

Colin Evans, Chief Executive

Victoria Balchin, Chief Financial Officer

+44 (0)1235 425400



Investec Investment Banking (NOMAD & Broker)

James Rudd / Patrick Robb / Sebastian Lawrence

+44 (0)20 7597 5970


 

Meare Consulting

Adrian Duffield

+44 (0) 7990 858548



 

About Thruvision (www.thruvision.com)

Thruvision is the leading developer, manufacturer and supplier of walk-through security technology. Its technology is deployed in more than 20 countries around the world by government and commercial organisations in a wide range of security situations, where large numbers of people need to be screened quickly, safely and efficiently. Thruvision's patented technology is uniquely capable of detecting concealed objects in real time using an advanced AI-based detection algorithm. The Group has offices and manufacturing capability in the UK and US.

 

Appendix 1

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Colin Evans

2.

Reason for the notification

(a)

Position/status

Chief Executive

(b)

Initial notification/ Amendment

Initial notification

 

3.

Details of the issuer

(a)

Name

Thruvision Group plc

(b)

LEI

213800IZG9GM6G2TZE04

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 Financial Instrument

Ordinary shares of £0.01 each in Thruvision Group plc

(b)

Identification code of the Financial Instrument

GB00B627R876

 

(c)

Nature of the transaction

Entry into an Award Agreement pursuant to which a non-tax advantaged option award over 1,000,000 Ordinary Shares of 1 pence each in Thruvision Group plc. 

The award was granted with an option price of £0.27 per share and will ordinarily become exercisable three years from the date of grant, subject to the grantee's continued service and satisfaction of the Performance Condition, and once exercisable may be exercised at any point up until the tenth anniversary of the date of grant.

(d)

Price(s) and volume(s)

Price(s)

Volume(s)



Nil

1,000,000

(e)

Aggregated information

-              Aggregated volume

-              Price

N/A

 

 

 

(f)

Date of the transaction

22 August 2023

(g)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Victoria Balchin

2.

Reason for the notification

(a)

Position/status

 Chief Financial Officer

(b)

Initial notification/ Amendment

Initial notification

 

3.

Details of the issuer

(a)

Name

Thruvision Group plc

(b)

LEI

213800IZG9GM6G2TZE04

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 Financial Instrument

Ordinary shares of £0.01 each in Thruvision Group plc

(b)

Identification code of the Financial Instrument

GB00B627R876

 

(c)

Nature of the transaction

Entry into an Award Agreement pursuant to which a tax advantaged Enterprise Management Incentive Award was granted over 400,000 Ordinary Shares of 1 pence each in Thruvision Group plc.

The award was granted with an option price of £0.27 per share and will ordinarily become exercisable three years from the date of grant, subject to the grantee's continued service and satisfaction of the Performance Condition, and once exercisable may be exercised at any point up until the tenth anniversary of the date of grant.

(d)

Price(s) and volume(s)

Price(s)

Volume(s)



nil

400,000

(e)

Aggregated information

-              Aggregated volume

-              Price

N/A

 

 

 

(f)

Date of the transaction

22 August 2023

(g)

Place of the transaction

Outside a trading venue

 

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