Volution Group PLC

Remuneration Information • Oct 17, 2024

National Storage Mechanism | Additional information

RNS Number : 6722I

Volution Group plc

17 October 2024

17 October 2024

Volution Group plc

Awards under Long Term Incentive Plan (LTIP) and Deferred Share Bonus Plan (DSBP)

Volution Group plc ("Volution" or the "Company", LSE: FAN), a leading international designer and manufacturer of energy efficient indoor air quality solutions, today announces that on 16 October 2024 the Executive Directors were granted awards under the Company's 2023 Long Term Incentive Plan ("LTIP awards") and 2023 Deferred Share Bonus Plan ("DSBP awards") as set out below:

Long Term Incentive Plan

Executive Director	Type of LTIP Award	Number of LTIP awards	Earliest Exercise Date
Ronnie George, Chief Executive Officer	Nil-cost option 1	143,046	5 years from grant 2
Andy O'Brien, Chief Financial Officer	Nil-cost option 1	81,618	5 years from grant 2

Notes:

1.       Subject to performance criteria as set out below.

2.       In accordance with the Volution Remuneration Policy, these LTIP awards are subject to a three-year vesting period followed by an additional two-year holding period before they can be exercised.   

The LTIP awards set out above are subject to performance criteria and will vest subject to the achievement of performance against targets measured over a three-year performance period.

Due to the timing of the proposed acquisition of the Fantech group of companies in Australasia (which remains subject to anti-trust approval), the Company's Remuneration Committee ("Committee") was not in a position to approve the targets at the time of grant. These targets will be set once the impact of the acquisition on the LTIP measures and targets has been assessed in more detail. The measures and targets will be disclosed in full on the Company's website once approved by the Committee.

The price used to calculate the number of LTIP awards was £6.0817 per ordinary share, being the average of the mid-market closing price of a Volution ordinary share on the three consecutive business days immediately preceding the date of grant. No consideration was paid for the LTIP awards. The LTIP awards shown above represent the maximum number of nil-cost options which could vest.  

Deferred Share Bonus Plan

	DSBP award
Ronnie George, Chief Executive Officer	38,024
Andy O'Brien, Chief Financial Officer	26,034

As set out in the Volution Remuneration Policy, under the Company's Annual Bonus Plan for the financial year ended 31 July 2024, one third of any bonus payment earned by the Executive Directors will normally be deferred into awards over the Company's shares.

The DSBP awards set out above were made in the form of conditional awards, which will, subject to the rules of the DSBP, have a normal vesting date of 16 October 2027. No consideration was paid for the DSBP awards and no consideration is due to be payable on vesting.

The attached notifications, made pursuant to Article 19(3) of the Market Abuse Regulation, provide further details.

-ends-

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 22 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, Rtek, inVENTer, Ventilair, ClimaRad, ERI Corporation, VMI, I-Vent.

Australasia: Simx, Ventair, Manrose, DVS.

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

Grant of nil-cost options under the Volution Long Term Incentive Plan (LTIP).

Grant of conditional awards under the Volution Deferred Share Bonus Plan (DSBP).

c)

Price(s) and volume(s)

LTIP:

Price(s)	Volume(s)
£NIL	143,046

DSBP:

Price(s)	Volume(s)
£NIL	38,024

d)

Aggregated information

- Aggregated volume

- Price

LTIP: 143,046 ordinary shares at £NIL

DSBP: 38,024 ordinary shares at £NIL

e)

Date of the transaction

16 October 2024

f)

Place of the transaction

Outside a trading venue

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

Andy O'Brien

2

Reason for the notification 

a)

Position/status

Chief Financial 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

Grant of nil-cost options under the Volution Long Term Incentive Plan (LTIP).

Grant of conditional awards under the Volution Deferred Share Bonus Plan (DSBP).

c)

Price(s) and volume(s)

LTIP:
Price(s)	Volume(s)
£NIL	81,618
DSBP
Price(s)	Volume(s)
£NIL	26,034

d)

Aggregated information

- Aggregated volume

- Price

LTIP: 81,618 ordinary shares at £NIL

DSBP: 26,034 ordinary shares at £NIL

e)

Date of the transaction

16 October 2024

f)

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHGPGUCUUPCGQM