Source - LSE Regulatory
RNS Number : 5783P
Volution Group plc
19 October 2021



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








500 pence




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





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.







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:


Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them



Details of the person discharging managerial responsibilities / person closely associated





 Ronnie George



Reason for the notification 





Chief Executive Officer



Initial notification /Amendment


Initial notification



Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor






Volution Group plc








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




Description of the financial instrument, type of instrument


Identification code


Ordinary shares of 1 pence each






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.




Price(s) and volume(s)





Acquisition of shares on exercise of DSBP 2018 Award.


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


Retention of shares.






500 pence per share

















Aggregated information


- Aggregated volume

- Price

Aggregated volume:



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




Date of the transaction

18 October 2021



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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