Volution Group PLC

Remuneration Information • Oct 17, 2016

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RNS Number : 7512M

Volution Group plc

17 October 2016

17 October 2016

Volution Group plc

Awards under the Company's Long Term Incentive Plan

and Deferred Share Bonus Plan

Volution Group plc ("Volution" or the "Company", LSE: FAN), a leading supplier of ventilation products to the residential and commercial construction markets, today announces that on 17 October 2016 the Executive Directors were granted awards under the Company's 2014 Long Term Incentive Plan ("LTIP awards") and 2014 Deferred Share Bonus Plan ("DSBP awards") as follows:

Executive Director	LTIP awards	DSBP awards
Ronnie George, Chief Executive Officer	228,735	4,106
Ian Dew, Chief Financial Officer	155,955	2,933

The LTIP awards were made in the form of nil-cost options, which will, subject to the rules of the LTIP, vest following the Remuneration Committee's determination of the extent to which performance conditions applicable to the awards have been satisfied. To the extent the performance conditions have been satisfied, the nil-cost options will have a normal vesting date of 18 October 2021 (which includes a two year holding period) and the options will lapse on 17 October 2026. 

The LTIP awards will vest subject to the achievement of performance against relative Total Shareholder Return (against two comparator groups) and Earnings per Share growth targets, measured over a three year performance period. The amounts shown above represent the maximum number of nil-cost options which could vest.   

The price used to calculate the number of LTIP awards was £1.70 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.

As set out in the Remuneration Policy in the Annual Report and Accounts 2015, under the Company's Annual Bonus Plan, 50% of any bonus payment above the target incentive (which is 60% of the maximum opportunity) earned by the Executive Directors will normally be deferred into awards over the Company's shares.

The DSBP awards were made in the form of a conditional award, which will, subject to the rules of the DSBP, have a normal vesting date of 17 October 2019. No consideration was paid for the DSBP awards and no consideration is due to be payable on vesting.

Following the LTIP awards and DSBP awards, the interests of the Chief Executive Officer and Chief Financial Officer are as follows:

Executive Director	Shares	LTIP awards *	DSBP awards
Ronnie George, Chief Executive Officer	5,622,833	660,593	8,772
Ian Dew, Chief Financial Officer	855,327	464,425	6,266

* unvested awards subject to performance criteria

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

Note to Editors

Volution Group plc (LSE: FAN) is a leading supplier of ventilation products to the residential and commercial construction markets in the UK and northern Europe.

The Group sold approximately 22 million ventilation products and accessories in the twelve months ended 31 July 2016. The Volution Group operates through two divisions: the Ventilation Group and the OEM (Torin-Sifan) division.  The Ventilation Group consists of 11 key brands - Vent-Axia, Manrose, Diffusion, National Ventilation, Airtech, Fresh, PAX, Welair, inVENTer, Brüggemann and Ventilair, focused primarily on the UK, Nordic and central European ventilation markets. The Ventilation Group principally supplies ventilation products for residential and commercial ventilation applications. The OEM (Torin-Sifan) division, supplies motors, fans and blowers to OEMs of heating and ventilation products for both residential and commercial construction applications in Europe.

For more information, please go to: http://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

n/a

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	228,735

DSBP:

Price(s)	Volume(s)
£NIL	4,106

d)

Aggregated information

- Aggregated volume

- Price

LTIP: 228,735 ordinary shares at £NIL

DSBP: 4,106 ordinary shares at £NIL

e)

Date of the transaction

17 October 2016

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

Ian Dew

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

n/a

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	155,955

DSBP:

Price(s)	Volume(s)
£NIL	2,933

d)

Aggregated information

- Aggregated volume

- Price

LTIP: 155,955 ordinary shares at £NIL

DSBP: 2,933 ordinary shares at £NIL

e)

Date of the transaction

17 October 2016

f)

Place of the transaction

Outside a trading venue

This information is provided by RNS

The company news service from the London Stock Exchange

END

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