Award of Share Options to Executive Directors

RNS Number : 1992C

Thruvision Group PLC

18 January 2018

 

18 January 2018

Thruvision Group plc

Award of Share Options to Executive Directors

Thruvision Group plc (AIM: THRU), ("Thruvision" the "Company") the specialist provider of people-screening technology to the global security market, announces that on 17 January 2018, Tom Black, (Executive Chairman), and Colin Evans (Managing Director) were awarded options under the Company Long Term Incentive Plan ("LTIP"). On 16 January 2018, Colin Evans (Managing Director) surrendered his current entitlement under the LTIP.

On 17 January 2018 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
Tom Black	EMI - Tax approved	585,175	£0.1538	£89,999,91	17 January 2021
Colin Evans	EMI - Tax approved	1,625,487	£0.1538	£249,999.90	17 January 2021
Colin Evans	Unapproved	374,513	£0.1538	£57,600.09	17 January 2021

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 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 total 5,850,175 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 20 employees on 17 January 2018.

On 16 January 2018, in contemplation of the grant of the awards detailed above, Colin Evans surrendered all rights and entitlements in connection with the following nil cost awards over ordinary shares of 1 pence in Thruvision Group plc which were granted under the Thruvision Group plc Long Term Incentive Plan (formerly the Digital Barriers Plc Long Term Incentive Plan):

Type of Option award	Date of grant	Number of shares under award	Exercise price
Unapproved	2 July 2015	500,000	Nil
Unapproved	28 July 2016	250,000	Nil

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 Tom Black, Executive Chairman Colin Evans, Managing Director	[phone]
Investec Bank plc (Financial Adviser, NOMAD & Broker) Andrew Pinder / Sebastian Lawrence / Patrick Robb	[phone]
FTI Consulting LLP Edward Bridges / Matt Dixon / Harry Staight	[phone]

About Thruvision

Thruvision Group plc is a specialist provider of people-screening technology that can safely see weapons, explosives and contraband hidden in peoples' clothing. Developed with extensive support from the British and US Governments, Thruvision technology is operationally proven and is being used to enhance the security of transport hubs, borders, high profile buildings and public areas.

www.thruvision.com

Appendix 1

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Tom Black
2.	Reason for the notification
(a)	Position/status	Executive Chairman
(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 585,175 Ordinary Shares of 1 pence each in Thruvision Group plc. The award was granted with an option price of £0.1538 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	585,175
(e)	Aggregated information -              Aggregated volume -              Price	N/A
(f)	Date of the transaction	17 January 2018
(g)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Colin Evans
2.	Reason for the notification
(a)	Position/status	Managing 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 the following option awards were granted under the Thruvision Group plc Long Term Incentive Plan: (i)   a tax advantaged Enterprise Management Incentive Award over 1,625,487 Ordinary Shares of 1 pence each in Thruvision Group plc; and (ii)   a non-tax advantaged award over 374,513 Ordinary Shares of 1 pence each in Thruvision Group plc.  Each award was granted with an option price of £0.1538  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	2,000,000
(e)	Aggregated information -              Aggregated volume -              Price	N/A
(f)	Date of the transaction	17 January 2018
(g)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Colin Evans
2.	Reason for the notification
(a)	Position/status	Managing 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 a deed of surrender pursuant to which the following option awards held by Colin Evans under the Thruvision Group plc Long Term Incentive Plan were surrendered in full: (iii) a non-tax advantaged option award over 500,000 Ordinary Shares of 1 pence each in Thruvision Group plc, granted on 2 July 2015 with an option price of nil; and  (iv) a non-tax advantaged option award over 250,000 Ordinary Shares of 1 pence each in Thruvision Group plc, granted on 28 July 2016 with an option price of nil.
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		nil	750,000
(e)	Aggregated information -              Aggregated volume -              Price	N/A
(f)	Date of the transaction	16 January 2017
(g)	Place of the transaction	Outside a trading venue

 

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