Director and PCA Dealing

RNS Number : 8720A

Volution Group plc

24 January 2020

 

24 January 2020

Not for publication, distribution or release, directly or indirectly, in whole or in part, in or into the United States, Australia, Canada, Japan or Republic of South Africa or any other jurisdiction in which such release, publication or distribution would be unlawful.

Volution Group plc

("Volution" or the "Company")

Director and PCA Dealing

Volution Group plc (LSE: FAN) announces that it has been notified by Ronnie George and Lynsey George (the "Sellers") that, further to the announcement earlier today, they have successfully sold a total of 3.05 million ordinary shares in the Company ("Sale Shares") at a price of 230 pence per Sale Share (the "Sale"). The Sale Shares in aggregate represent approximately 1.5% of the Company's issued share capital. Lynsey George is the wife of, and therefore a person closely associated with, Ronnie George.

Ronnie George will continue to have an interest in approximately 1.5% of the issued share capital of the Company. Ronnie George has also undertaken that, without the prior written consent of Liberum Capital Limited, neither he, nor any person closely associated with him, will dispose of any further ordinary shares for a period of 12 months after completion of the Sale (subject to customary exceptions).

The Company was not a party to the Sale and will not receive any proceeds from the Sale.

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation (EU) 596/2014. The person responsible for making this announcement on behalf of the Company is Andy O'Brien, Chief Financial Officer.

For further information:

Volution Group plc                                                                 

Michael Anscombe, Company Secretary                         [phone]

Liberum Capital Limited                                                           [phone]

Neil Patel

Richard Bootle

Edward Phillips

Tulchan Communications                                                        [phone]

James Macey White

David Allchurch

Legal Entity Identifier: 213800EPT84EQCDHO768.

Note to Editors:

Volution Group plc (LSE: FAN) is a leading supplier of ventilation products to the residential and commercial construction markets in the UK, the Nordics, Central Europe and Australasia.

The Volution Group operates through two divisions: the Ventilation Group and the OEM (Torin-Sifan) division. The Ventilation Group comprises 15 key brands - Vent-Axia, Manrose, Diffusion, National Ventilation, Airtech, Breathing Buildings, Fresh, PAX, VoltAir, Kair, Air Connection, inVENTer, Ventilair, Simx and Ventair, focused primarily on the UK, the Nordic, Central European and Australasian ventilation markets. The Ventilation Group principally supplies ventilation products for residential and commercial ventilation applications. The OEM (Torin-Sifan) division supplies motors, fans and blowers to OEMs of heating and ventilation products for both residential and commercial construction applications in Europe. For more information, please go to: www.volutiongroupplc.com

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 £0.01 each ISIN: GB00BN3ZZ526
b)	Nature of the transaction	Disposal of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 230 pence 2,800,000
d)	Aggregated information - Aggregated volume - Price	n/a (single transaction)
e)	Date of the transaction	24 January 2020
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Lynsey George
2	Reason for the notification
a)	Position/status	Person Closely Associated with Ronnie George
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 £0.01 each ISIN: GB00BN3ZZ526
b)	Nature of the transaction	Disposal of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 230 pence 250,000
d)	Aggregated information - Aggregated volume - Price	n/a (single transaction)
e)	Date of the transaction	24 January 2020
f)	Place of the transaction	London Stock Exchange

 

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