Source - LSE Regulatory
RNS Number : 7519F
Thruvision Group PLC
09 November 2022
 

 

9 November 2022

Thruvision Group plc

 

 

Award of Share Options to Executive Directors

 

Thruvision Group plc (AIM: THRU), ("Thruvision" ) the leading provider of safe distance people-screening technology to the international security market, announces that on 8 November 2022, Colin Evans (Chief Executive) and Victoria Balchin (Chief Financial Officer) were awarded options under the Company Long Term Incentive Plan ("LTIP").

On 8 November 2022 the following awards over ordinary shares of 1 pence in Thruvision Group plc were granted under the Thruvision Group plc Long Term Incentive Plan to the Executive Directors detailed below.

Name

Type of option award

No of shares awarded              

Exercise price on award

Market Value on award

Date of vesting

Colin Evans

Unapproved

800,000

£0.221

£176,800

8 November 2025

Victoria Balchin

EMI - Tax approved

400,000

£0.221

£88,400

8 November 2025

The awards were granted pursuant to separate Award Agreements entered into between Thruvision Group plc and each Executive Director noted in the table above.

Each award (regardless of whether it was granted as an EMI award or a non-tax advantaged award) will ordinarily become exercisable on the third anniversary of grant, subject to the grantee's continued service with Thruvision and will remain exercisable at any point up until the tenth anniversary of the date of grant.

In addition, the vesting of the awards are subject to the achievement of a challenging performance conditions relating to revenue and profit.

In total 2,500,000 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 32 employees on 8 November 2022.

The notification in appendix 1 to this announcement, made in accordance with the requirements of the  Market Abuse Regulation, provides further detail:

 

For further information please contact:

 

Thruvision Group plc                                    

Colin Evans, Chief Executive

Tom Black, Executive Chairman

+44 (0)1235 436180



Investec Bank plc

James Rudd / Patrick Robb / Sebastian Lawrence

+44 (0)20 7597 5970


 

FTI Consulting LLP

Matt Dixon /  Tom Blundell

+44 (0)20 3727 1000



 

About Thruvision

Thruvision is the leading provider of safe distance people-screening technology. Using patented passive terahertz technology, Thruvision is uniquely capable of detecting metallic and non-metallic threats including weapons, explosives and contraband items that are hidden under clothing, at distances between 3 and 10m. Addressing the growing need for fast, safe and effective security, Thruvision completely removes the need for physical "pat-downs" and has been vetted and approved by the US Transportation Security Administration for surface transportation. Operationally deployed in 20 countries around the world, Thruvision is used for aviation and transportation security, retail supply chain loss prevention, facilities and public area protection and customs and border control. The company has offices near Oxford and Washington DC.

 

www.thruvision.com

 

 

Appendix 1

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Colin Evans

2.

Reason for the notification

(a)

Position/status

Chief Executive

(b)

Initial notification/ Amendment

Initial notification

 

3.

Details of the issuer

(a)

Name

Thruvision Group plc

(b)

LEI

213800IZG9GM6G2TZE04

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

Ordinary shares of £0.01 each in Thruvision Group plc

(b)

Identification code of the Financial Instrument

GB00B627R876

 

(c)

Nature of the transaction

Entry into an Award Agreement pursuant to which a non-tax advantaged option award over 800,000 Ordinary Shares of 1 pence each in Thruvision Group plc. 

The award was granted with an option price of £0.221 per share and will ordinarily become exercisable three years from the date of grant, subject to the grantee's continued service and satisfaction of the Performance Condition, and once exercisable may be exercised at any point up until the tenth anniversary of the date of grant.

(d)

Price(s) and volume(s)

Price(s)

Volume(s)



Nil

800,000



 

(e)

Aggregated information

-              Aggregated volume

-              Price

N/A

 

 

 

(f)

Date of the transaction

8 November 2022

(g)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Victoria Balchin

2.

Reason for the notification

(a)

Position/status

 Chief Financial Officer

(b)

Initial notification/ Amendment

Initial notification

 

3.

Details of the issuer

(a)

Name

Thruvision Group plc

(b)

LEI

213800IZG9GM6G2TZE04

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

Ordinary shares of £0.01 each in Thruvision Group plc

(b)

Identification code of the Financial Instrument

GB00B627R876

 

(c)

Nature of the transaction

Entry into an Award Agreement pursuant to which a tax advantaged Enterprise Management Incentive Award was granted over 400,000 Ordinary Shares of 1pence each in Thruvision Group plc.

The award was granted with an option price of £0.221 per share and will ordinarily become exercisable three years from the date of grant, subject to the grantee's continued service and satisfaction of the Performance Condition, and once exercisable may be exercised at any point up until the tenth anniversary of the date of grant.

(d)

Price(s) and volume(s)

Price(s)

Volume(s)



nil

400,000



 

(e)

Aggregated information

-              Aggregated volume

-              Price

N/A

 

 

 

(f)

Date of the transaction

8 November 2022

(g)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

 

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