Award of Share Options to Executive Directors

RNS Number : 1681P

Thruvision Group PLC

08 October 2019

 

8 October 2019

Thruvision Group plc

Award of Share Options to Executive Directors

Thruvision Group plc (AIM: THRU), ("Thruvision" ) the specialist provider of people-screening technology to the international security market, announces that on 8 October 2019, Colin Evans (Chief Executive) and Adrian Crockett (Finance Director) were awarded options under the Company Long Term Incentive Plan ("LTIP").

On 8 October 2019 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	851,449	£0.276	£234,999.92	8 October 2022
Adrian Crockett	EMI - Tax approved	400,000	£0.276	£110,400.00	8 October 2022

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 the grant, subject to the grantee's continued service with the Thruvision group 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 a challenging performance condition relating to revenue and profit in the year ending 31 March 2022.

In total 2,382,931 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 10 employees on 8 October 2019.

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

For further information please contact:

Thruvision Group plc                                                                     [phone]

Tom Black, Executive Chairman

Colin Evans, Chief Executive

Investec Bank plc (NOMAD & Broker)                                          [phone]

James Rudd / Sebastian Lawrence / Patrick Robb

FTI Consulting LLP                                                                           [phone]

Matt Dixon / Shamma Kelly

About Thruvision

Thruvision Group plc is a specialist provider of people-screening technology. Using patented passive terahertz technology, Thruvision is uniquely capable of detecting metallic and non-metallic threats including weapons, explosives and contraband items that are hidden under clothing, at distances up to 10m. Addressing the growing need for fast, safe and effective security, Thruvision has been vetted and approved by the US Transportation Security Administration. Operationally deployed in 20 countries around the world, Thruvision is used for a range of applications including mass transit and aviation security, facilities and public area protection, customs and border control and supply chain loss prevention. The company has offices near Oxford, in Washington DC, and in Sydney."

www.thruvision.com 

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 851,449 Ordinary Shares of 1 pence each in Thruvision Group plc.  The award was granted with an option price of £0.276 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	851,449
(e)	Aggregated information -              Aggregated volume -              Price	N/A
(f)	Date of the transaction	8 October 2019
(g)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Adrian Crockett
2.	Reason for the notification
(a)	Position/status	Finance Director
(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 1pence each in Thruvision Group plc. The award was granted with an option price of £0.276 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	8 October 2019
(g)	Place of the transaction	Outside a trading venue

 

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