Award of Share Options to Executive Directors
Updated : 14:01
8 October 2019
Thruvision Group plc
Award of Share Options to Executive Directors
Thruvision Group plc (AIM: THRU), ("Thruvision" ) the specialist provider of people-screening technology to the international security market, announces that on 8 October 2019, Colin Evans (Chief Executive) and Adrian Crockett (Finance Director) were awarded options under the Company Long Term Incentive Plan ("LTIP").
On 8 October 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 | 851,449 | £0.276 | £234,999.92 | 8 October 2022 |
Adrian Crockett | EMI - Tax approved | 400,000 | £0.276 | £110,400.00 | 8 October 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 the 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 a challenging performance condition relating to revenue and profit in the year ending 31 March 2022.
In total 2,382,931 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 10 employees on 8 October 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 436180
Tom Black, Executive Chairman
Colin Evans, Chief Executive
Investec Bank plc (NOMAD & Broker) +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 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. Operationally deployed in 20 countries around the world, Thruvision is used for a range of applications including mass transit and aviation security, facilities and public area protection, customs and border control and supply chain loss prevention. The company has offices near Oxford, in Washington DC, and in Sydney."
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 851,449 Ordinary Shares of 1 pence each in Thruvision Group plc. The award was granted with an option price of £0.276 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 | 851,449 |
|
|
| |
(e) | Aggregated information - Aggregated volume - Price | N/A
| |
(f) | Date of the transaction | 8 October 2019 | |
(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 400,000 Ordinary Shares of 1pence each in Thruvision Group plc. The award was granted with an option price of £0.276 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 | 400,000 |
|
|
| |
(e) | Aggregated information - Aggregated volume - Price | N/A
| |
(f) | Date of the transaction | 8 October 2019 | |
(g) | Place of the transaction | Outside a trading venue | |
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