16 October 2024
Volution Group plc
Vesting and Exercise of Share 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 international designer and manufacturer of energy efficient indoor air quality solutions, announces that the award granted under the Company's Deferred Share Bonus Plan (DSBP) on 13 October 2021 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 by Andy O'Brien on 15 October 2024 to satisfy income tax, national insurance liability and dealing costs, and the number of shares retained:
|
| Number of DSBP shares vesting 1 | Number of shares sold to satisfy income tax, national insurance liability and dealing costs | Price at which each share sold | Number of shares retained |
| Ronnie George, Chief Executive Officer
|
39,444 |
Nil |
n/a |
39,444
|
| Andy O'Brien, Chief Financial Officer
|
27,602 |
13,006 |
£6.11 |
14,596 |
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. Andy O'Brien has sold sufficient shares to settle the income tax and NI liability due on vesting and retained the remainder of the shares.
On 15 October 2024, Andy O'Brien also 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 Date | Number of Shares Acquired1 | Number of shares sold to satisfy income tax, national insurance liability and dealing costs | Price per Share | Number of Shares Retained |
|
Andy O'Brien, Chief Financial Officer
|
15 October 2019 |
214,910 |
101,261 |
£6.18 |
113,649 |
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.
The attached notification, made pursuant to Article 19(3) of the Market Abuse Regulation, provides 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
| Vesting and exercise of conditional share award under the Volution Deferred Share Bonus Plan (DSBP).
| ||||||
| c)
| Price(s) and volume(s)
| DSBP:
| ||||||
| d)
| Aggregated information
- Aggregated volume - Price | Aggregated volume:
Exercise Volume: 39,444 Price: £Nil
| ||||||
| e)
| Date of the transaction | 15 October 2024 | ||||||
| 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). | ||||||
| 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 /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
| 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:
| ||||||
| d)
| Aggregated information
- Aggregated volume - Price | Aggregated volume:
Exercise Volume: 27,602 Price: £Nil
Sale to cover income tax, national insurance and dealing costs Volume: 13,006 Price: £6.11 per share
Retention of shares Volume: 14,596 Price: £Nil
| ||||||
| e)
| Date of the transaction | 15 October 2024 | ||||||
| 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). | ||||||
| 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 /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
| Vesting and exercise of LTIP options under the Volution Long Term Incentive Plan, 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)
|
| ||||||
| d)
| Aggregated information
- Aggregated volume - Price | Aggregated volume:
Exercise Volume: 214,910 Price: £Nil
Sale to cover income tax, national insurance and dealing costs Volume: 101,261 Price: £6.18 per share
Retention of shares Volume: 113,649 Price: £Nil
| ||||||
| e)
| Date of the transaction | 15 October 2024 | ||||||
| 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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