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Thruvision Group PLC — Remuneration Information 2020
Jun 16, 2020
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Remuneration Information
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National Storage Mechanism | Additional information
RNS Number : 0241Q
Thruvision Group PLC
16 June 2020
16 June 2020
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 15 June 2020, Colin Evans (Chief Executive) and Adrian Crockett (Finance Director) were awarded options under the Company Long Term Incentive Plan ("LTIP").
On 15 June 2020 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 | £0.20 | £160,000 | 15 June 2023 |
| Adrian Crockett | EMI - Tax approved | 250,000 | £0.20 | £50,000 | 15 June 2023 |
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 normal circumstances the Performance Conditions on which the vesting of the awards would depend, would be set on the date of award. However, given the Covid-19 pandemic, it has been agreed that the Performance Conditions will be agreed later this year and no later than 31 December 2020, once the impact of the pandemic on the trading performance of the Company is better understood.
In total 2,310,000 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 12 employees on 15 June 2020.
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 436180
Tom Black, Executive Chairman
Colin Evans, Chief Executive
Investec Bank plc +44 (0)20 7597 5970
James Rudd / Sebastian Lawrence / Patrick Robb
FTI Consulting LLP +44 (0)20 3727 1000
Matt Dixon / Shamma Kelly
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.
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 £0.20 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 | 15 June 2020 | |
| (g) | Place of the transaction | Outside a trading venue |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) | Name | Adrian Crockett | |
| 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 250,000 Ordinary Shares of 1pence each in Thruvision Group plc. The award was granted with an option price of £0.20 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 | 250,000 | ||
| (e) | Aggregated information - Aggregated volume - Price |
N/A | |
| (f) | Date of the transaction | 15 June 2020 | |
| (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 [email protected] or visit www.rns.com.
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