Award of Share Options to Executive Director

Thruvision Group PLC

10 January 2024

 

10 January 2024

Thruvision Group plc

Award of Share Options to Executive Director

Thruvision Group plc (AIM: THRU), ("Thruvision" ) the leading provider of walk-through security technology, announces that on 10 January 2024, Victoria Balchin (Chief Financial Officer) was awarded options under the Company Long Term Incentive Plan ("LTIP").

On 10 January 2024 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 Director detailed below.

Name	Type of option award	No of shares awarded	Exercise price on award	Market Value on award	Date of vesting
Victoria Balchin	EMI - Tax approved/ UK unapproved	1,000,000	£0.01	£187,500	10 January 2027

The award was granted pursuant to a separate Award Agreement entered into between Thruvision Group plc and the Executive Director noted in the table above.

The 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 total 2,950,000 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 6 employees on 10 January 2024 to retain and incentivise key members of the senior leadership team, with particular attention on recent hires  to the organisation.

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	[phone]
Investec Investment Banking (NOMAD & Broker) James Rudd / Patrick Robb / Sebastian Lawrence	[phone]
Meare Consulting Adrian Duffield	[phone]

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 organisationsin 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's offices are near Oxford and Washington DC

Appendix 1

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 285,866 Ordinary Shares of 1 pence each in Thruvision Group plc and a non-tax advantaged option award over 714,134 Ordinary Shares of 1 pence each in Thruvision Group plc.  The award was granted with an option price of £0.01 per share and will ordinarily become exercisable three years from the date of grant, subject to the grantee's continued service, 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	10 January 2024
(g)	Place of the transaction	Outside a trading venue

 

END