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Pin to quick picksThruvision Grp Regulatory News (THRU)

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Award of Share Options to Executive Directors

18 Jan 2019 16:02

RNS Number : 5520N
Thruvision Group PLC
18 January 2019
 

18 January 2019

Thruvision Group plc

 

Award of Share Options to Executive Directors

Thruvision Group plc (AIM: THRU), ("Thruvision" the "Company") the specialist provider of people-screening technology to the international security market, announces that on 18 January 2019, Colin Evans (Managing Director) and Ian Lindsay (Finance Director) were awarded options under the Company Long Term Incentive Plan ("LTIP").

On 18 January 2019 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

870,370

£0.27

£234,999.90

18 January 2022

Ian Lindsay

EMI - Tax approved

100,000

£0.27

£27,000.00

18 January 2022

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 the Thruvision Group 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 challenging performance conditions relating to revenue and profit in the year ending 31 March 2022.

In total 2,203,888 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 13 employees on 18 January 2019.

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

 

For further information please contact:

 

Thruvision Group plc +44 (0)1235 425 400

Tom Black, Executive Chairman

Colin Evans, Managing Director

 

Investec Bank plc +44 (0)20 7597 5970

Andrew Pinder / Sebastian Lawrence / Patrick Robb

 

FTI Consulting LLP +44 (0)20 3727 1000

Matt Dixon / Harry Staight

 

 

 

 

About Thruvision

 

Thruvision Group plc is a specialist provider of 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 up to 10m. Addressing the growing need for fast, safe and effective security, Thruvision has been vetted and approved by the US Transportation Security Administration. More than 200 units have been deployed worldwide over the last five years for applications including mass transit and aviation security, facilities and public area protection, customs and border control and supply chain loss prevention.

 

 

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

Managing Director

(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 870,370 Ordinary Shares of 1 pence each in Thruvision Group plc.

The award was granted with an option price of £0.27 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

870,370

(e)

Aggregated information

- Aggregated volume

- Price

N/A

 

 

 

(f)

Date of the transaction

18 January 2019

(g)

Place of the transaction

Outside a trading venue

 

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Ian Lindsay

2.

Reason for the notification

(a)

Position/status

Finance Director

(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 100,000 Ordinary Shares of 1pence each in Thruvision Group plc.

The award was granted with an option price of £0.27 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

100,000

(e)

Aggregated information

- Aggregated volume

- Price

N/A

 

 

 

(f)

Date of the transaction

18 January 2019

(g)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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