Tuesday 19th October 2021
Volution Group plc
Vesting of Share Awards under the Company's 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 on 17th October 2021, the award granted under the Company's Deferred Share Bonus Plan (DSBP) on 17th October 2018 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 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
|
40,986
|
19,312 |
500 pence |
21,674 |
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. Ronnie George has sold sufficient shares to settle the income tax and NI liability due on vesting and retained the remainder of the shares.
Following the exercise, sale and retention of shares under the DSBP, the shareholding of the Chief Executive Officer is as follows:
| | Total holding of ordinary shares 1 | % of issued share capital
|
| Ronnie George, Chief Executive Officer
| 2,647,133 | 1.34% |
1. Total shareholding includes shares held by Ronnie George and Persons Closely Associated with him (spouse).
The attached notifications, made pursuant to Article 19(3) of the Market Abuse Regulation, provide further details.
-ends-
Enquiries:
Volution Group plc
Michael Anscombe, Company Secretary +44 (0) 1293 441562
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 19 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.
Australasia: Simx, Ventair, Manrose.
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), 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:
| ||||||
| d)
| Aggregated information
- Aggregated volume - Price | Aggregated volume:
Exercise Volume: 40,986 Price: £Nil
Sale to cover income tax, national insurance and dealing costs Volume: 19,312 Price: 500 pence per share
Retention of shares Volume: 21,674 Price: £Nil
| ||||||
| e)
| Date of the transaction | 18 October 2021 | ||||||
| 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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