Director/PDMR Shareholding

Volution Group plc

12 October 2023

 

12 October 2023

Volution Group plc

Awards under Long Term Incentive Plan (LTIP) and Deferred Share Bonus Plan (DSBP)

Volution Group plc ("Volution" or the "Company", LSE: FAN), a leading international designer and manufacturer of energy efficient indoor air quality solutions, today announces that on 11 October 2023 the Executive Directors were granted awards under the Company's 2014 Long Term Incentive Plan ("LTIP awards") and 2014 Deferred Share Bonus Plan ("DSBP awards") as set out below:

Long Term Incentive Plan

Executive Director	Type of LTIP Award	Number of LTIP awards	Earliest Exercise Date
Ronnie George, Chief Executive Officer	Nil-cost option 1	226,571	5 years from grant 2
Andy O'Brien, Chief Financial Officer	Nil-cost option 1	129,275	5 years from grant 2

Notes:

^1.       Subject to performance criteria as set out below.

^2.       In accordance with the Volution Remuneration Policy, these LTIP awards are subject to a three-year vesting period followed by an additional two-year holding period before they can be exercised.   

The LTIP awards set out above are subject to performance criteria and will vest subject to the achievement of performance against Earnings per Share growth targets, relative Total Shareholder Return (against a direct peer group) and ESG performance measures, all measured over a three-year performance period. Full details of the performance criteria will be included in Volution's Directors' Remuneration Report for the financial year ended 31 July 2023.

The price used to calculate the number of LTIP awards was £3.6743 per ordinary share, being the average of the mid-market closing price of a Volution ordinary share on the three consecutive business days immediately preceding the date of grant. No consideration was paid for the LTIP awards. The LTIP awards shown above represent the maximum number of nil-cost options which could vest.  

Deferred Share Bonus Plan

	DSBP award
Ronnie George, Chief Executive Officer	37,723
Andy O'Brien, Chief Financial Officer	26,398

As set out in the Volution Remuneration Policy in the Annual Report and Accounts, under the Company's Annual Bonus Plan for the financial year ended 31 July 2023, one third of any bonus payment earned by the Executive Directors will normally be deferred into awards over the Company's shares.

The DSBP awards set out above were made in the form of conditional awards, which will, subject to the rules of the DSBP, have a normal vesting date of 11 October 2026. No consideration was paid for the DSBP awards and no consideration is due to be payable on vesting.

The attached notifications, made pursuant to Article 19(3) of the Market Abuse Regulation, provide further details.

-ends-

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	Grant of nil-cost options under the Volution Long Term Incentive Plan (LTIP). Grant of conditional awards under the Volution Deferred Share Bonus Plan (DSBP).
c)	Price(s) and volume(s)	LTIP: Price(s) Volume(s) £NIL 226,571 DSBP: Price(s) Volume(s) £NIL 37,723
d)	Aggregated information - Aggregated volume - Price	LTIP: 226,571 ordinary shares at £NIL DSBP: 37,723 ordinary shares at £NIL
e)	Date of the transaction	11 October 2023
f)	Place of the transaction	Outside a trading venue

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	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	Grant of nil-cost options under the Volution Long Term Incentive Plan (LTIP). Grant of conditional awards under the Volution Deferred Share Bonus Plan (DSBP).
c)	Price(s) and volume(s)	LTIP: Price(s) Volume(s) £NIL 129,275 DSBP Price(s) Volume(s) £NIL 26,398
d)	Aggregated information - Aggregated volume - Price	LTIP: 129,275 ordinary shares at £NIL DSBP: 26,398 ordinary shares at £NIL
e)	Date of the transaction	11 October 2023
f)	Place of the transaction	Outside a trading venue

 

END