13 October 2023
Volution Group plc
Exercise of Awards under the Volution Group plc Long Term Incentive Plan ("LTIP")
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 12 October 2023 Ronnie George, Chief Executive Officer, exercised the following LTIP options and sold sufficient shares to satisfy income tax, national insurance liability and dealing costs, with the balance being retained:
| Name | LTIP Grant Dates | Number of Shares Acquired1 | Number of shares Sold | Number of Shares Retained | Price per Share |
| Ronnie George | 29 October 2014 19 November 2015 17 October 2016 23 March 2018 | 184,436 123,808 99,662 77,769
Total: 485,675 | 228,840 | 256,835 | £3.7921 |
1. In accordance with the rules of the LTIP, additional shares equal in value to dividends paid during the period between grant and vesting were added to the vested share award.
Following the transactions set out above, the shareholding of the Chief Executive Officer is as follows:
|
| Total holding of ordinary shares 1 | % of issued share capital
|
| Ronnie George, Chief Executive Officer
| 2,926,951 | 1.48% |
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 22 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, VMI, I-Vent.
Australasia: Simx, Ventair, Manrose, DVS.
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 /Amendment
| Initial notification | ||||||
| 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 financial instrument, type of instrument
Identification code
| Ordinary shares of 1 pence each
ISIN: GB00BN3ZZ526 | ||||||
| b)
| Nature of the transaction
| Exercise of nil-cost options under the Long Term Incentive Plan (LTIP), sale of shares to fund income tax, national insurance and dealing costs arising and retention of balance of shares.
| ||||||
| c)
| Price(s) and volume(s)
| LTIP:
| ||||||
| d)
| Aggregated information
- Aggregated volume - Price | Aggregated volume:
Exercise Volume: 485,675 Price: £Nil
Sale to cover income tax, national insurance and dealing costs Volume: 228,840 Price: £3.7921 per share
Retention of shares Volume: 256,835 Price: £Nil
| ||||||
| e)
| Date of the transaction | 12 October 2023 | ||||||
| f)
| Place of the transaction | Outside a trading venue (exercise of LTIP and retention of shares) and London Stock Exchange, Main Market (XLON) (sale of shares). | ||||||
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