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

 

 

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:


Price(s)

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.

 

£Nil

 

 

 

500 pence per share

 

 

 

£Nil

40,986

 

 

 

19,312

 

 

 

 

21,674

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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