Last checked at 18 Jan 2019 16:02
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 | |