FAN.L

Volution Group Plc
Volution Group plc - Director/PDMR Shareholding
16th October 2024, 16:37
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RNS Number : 4972I
Volution Group plc
16 October 2024
 

Adobe Systems

 

16 October 2024

 

 

Volution Group plc

Vesting and Exercise of Share Awards under the Company's

Long Term Incentive Plan and Deferred Share Bonus Plan

 

Volution Group plc ("Volution" or the "Company", LSE: FAN), a leading international designer and manufacturer of energy efficient indoor air quality solutions, announces that the award granted under the Company's Deferred Share Bonus Plan (DSBP) on 13 October 2021 vested following the end of a three-year deferral period. This share award was not subject to performance conditions.  No consideration was paid for the DSBP share award and no consideration was payable on vesting.

 

The following table shows the number of share awards vested and exercised, the number of shares sold by Andy O'Brien on 15 October 2024 to satisfy income tax, national insurance liability and dealing costs, and the number of shares retained:  

 

 

Number of DSBP shares vesting 1

Number of shares sold to satisfy income tax, national insurance liability and dealing costs

Price at which each share sold

Number of shares retained

Ronnie George, Chief Executive Officer

 

 

39,444

 

Nil

 

n/a

 

39,444

 

Andy O'Brien, Chief Financial Officer

 

 

27,602

 

13,006

 

£6.11

 

14,596

 

1.   In accordance with the rules of the DSBP, dividend equivalent shares in respect of the period between grant and vesting were added to the vested share award. Andy O'Brien has sold sufficient shares to settle the income tax and NI liability due on vesting and retained the remainder of the shares.

 

On 15 October 2024, Andy O'Brien also exercised the following LTIP options and sold sufficient shares to satisfy income tax, national insurance liability and dealing costs, with the balance being retained:  

 

Name

LTIP Grant Date

Number of Shares Acquired1

Number of shares sold to satisfy income tax, national insurance liability and dealing costs

Price per Share

Number of Shares Retained

 

Andy O'Brien, Chief Financial Officer

 

 

15 October 2019

 

214,910

 

101,261

 

£6.18

 

113,649

 

1.        In accordance with the rules of the LTIP, additional shares equal in value to dividends paid during the period between grant and vesting were added to the vested share award.

 

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

 

-ends-

 

 

Enquiries:

 

Volution Group plc

Fiona Smith, Company Secretary

 

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

 

 

Vesting and exercise of conditional share award under the Volution Deferred Share Bonus Plan (DSBP).

 

c)

 

Price(s) and volume(s)

 

DSBP:

Price(s)

Volume(s)

Acquisition of shares on exercise of DSBP 2021 Award.

 

 

£Nil

 

 

39,444

 

 

d)

 

Aggregated information

 

- Aggregated volume

- Price

Aggregated volume:

 

Exercise

Volume: 39,444

Price: £Nil

 

 

e)

 

Date of the transaction

15 October 2024

f)

 

Place of the transaction

Outside a trading venue (exercise of conditional share award and retention of shares) and London Stock Exchange, Main Market (XLON) (sale of shares).

 

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

 

 

Vesting and exercise of conditional share award under the Volution Deferred Share Bonus Plan (DSBP), sale of shares to fund the income tax, national insurance and dealing costs and retention of balance of shares.

 

c)

 

Price(s) and volume(s)

 

DSBP:

Price(s)

Volume(s)

Acquisition of shares on exercise of DSBP 2021 Award.

 

Sale of shares to satisfy income tax, national insurance and dealing costs.

 

Retention of shares.

 

£Nil

 

 

 

£6.11

 

 

 

 

£Nil

27,602

 

 

 

13,006

 

 

 

 

14,596

d)

 

Aggregated information

 

- Aggregated volume

- Price

Aggregated volume:

 

Exercise

Volume: 27,602

Price: £Nil

 

Sale to cover income tax, national insurance and dealing costs

Volume: 13,006

Price:  £6.11 per share

 

Retention of shares

Volume: 14,596

Price:  £Nil

 

e)

 

Date of the transaction

15 October 2024

f)

 

Place of the transaction

Outside a trading venue (exercise of conditional share award and retention of shares) and London Stock Exchange, Main Market (XLON) (sale of shares).

 

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

 

 

Vesting and exercise of LTIP options under the Volution Long Term Incentive Plan, sale of shares to fund the income tax, national insurance and dealing costs and retention of balance of shares.

 

c)

 

Price(s) and volume(s)

 

 

Price(s)

Volume(s)

Acquisition of shares on exercise of LTIP 2019 Award.

 

Sale of shares to satisfy income tax, national insurance and dealing costs.

 

Retention of shares.

 

£Nil

 

 

 

£6.18

 

 

 

 

£Nil

214,910

 

 

 

101,261

 

 

 

 

113,649

d)

 

Aggregated information

 

- Aggregated volume

- Price

Aggregated volume:

 

Exercise

Volume: 214,910

Price: £Nil

 

Sale to cover income tax, national insurance and dealing costs

Volume: 101,261

Price:  £6.18 per share

 

Retention of shares

Volume: 113,649

Price:  £Nil

 

e)

 

Date of the transaction

15 October 2024

f)

 

Place of the transaction

Outside a trading venue (exercise of conditional share award and retention of shares) and London Stock Exchange, Main Market (XLON) (sale of shares).

 

 

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