Last checked at 24 Mar 2021 14:04
Wednesday 24 March 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 23 March 2021, the award granted under the Company's Deferred Share Bonus Plan (DSBP) on 23 March 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 sets out the share award which has vested, the total shareholding following transfer of the share award from the Volution Employee Benefit Trust to the Director and the shareholding as a percentage of voting share capital:
Number of DSBP shares vesting 1 | New total shareholding 2 | Shareholding as a % of voting share capital | |
Ronnie George, Chief Executive Officer | 28,252 | 2,625,459 | 1.33% |
Notes:
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 retained all vested shares and settled the income tax and NI liability due on vesting from his own funds.
2. 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 17 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, inVENTer, Ventilair, ClimaRad.
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 transfer of conditional share award under the Volution Deferred Share Bonus Plan (DSBP). | ||||
c)
| Price(s) and volume(s)
| DSBP:
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
DSBP: 28,252 ordinary shares at £NIL
| ||||
e)
| Date of the transaction
| 23 March 2021 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||