Last checked at 9 Nov 2022 07:00
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 | |