Thruvision Group PLC Award of Share Options to Executive Directors (7519F)
November 09 2022 - 2:00AM
UK Regulatory
TIDMTHRU
RNS Number : 7519F
Thruvision Group PLC
09 November 2022
9 November 2022
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 8 November 2022,
Colin Evans (Chief Executive) and Victoria Balchin (Chief Financial
Officer) were awarded options under the Company Long Term Incentive
Plan ("LTIP").
On 8 November 2022 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 No of shares Exercise Market Date of
award awarded price on Value on vesting
award award
Colin Evans Unapproved 800,000 GBP0.221 GBP176,800 8 November
2025
--------------- ------------- ---------- ----------- -----------
Victoria EMI - Tax 400,000 GBP0.221 GBP88,400 8 November
Balchin approved 2025
--------------- ------------- ---------- ----------- -----------
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 Thruvision 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 conditions relating to
revenue and profit.
In total 2,500,000 awards were made over ordinary shares of 1
pence in Thruvision Group plc to 32 employees on 8 November
2022.
The notification in appendix 1 to this announcement, made in
accordance with the requirements of the Market Abuse Regulation,
provides further detail:
For further information please contact:
Thruvision Group plc
Colin Evans, Chief Executive
Tom Black, Executive Chairman +44 (0)1235 436180
Investec Bank plc
James Rudd / Patrick Robb / Sebastian
Lawrence +44 (0)20 7597 5970
FTI Consulting LLP
Matt Dixon / Tom Blundell +44 (0)20 3727 1000
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.
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 Chief Executive
----------------------------------------- -------------------------------------------------
(b) Initial notification/ Initial notification
Amendment
----------------------------------------- -------------------------------------------------
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 Ordinary shares of GBP0.01 each in Thruvision
Financial Instrument Group plc
----------------------------------------- -------------------------------------------------
(b) Identification code GB00B627R876
of the Financial
Instrument
----------------------------------------- -------------------------------------------------
(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 GBP0.221 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 N/A
* Aggregated volume
- Price
----------------------------------------- -------------------------------------------------
(f) Date of the transaction 8 November 2022
----------------------------------------- -------------------------------------------------
(g) Place of the transaction Outside a trading venue
----------------------------------------- -------------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Victoria Balchin
----------------------------------------- -------------------------------------------------
2. Reason for the notification
--------------------------------------------------------------------------------------------
(a) Position/status Chief Financial Officer
----------------------------------------- -------------------------------------------------
(b) Initial notification/ Initial notification
Amendment
----------------------------------------- -------------------------------------------------
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 Ordinary shares of GBP0.01 each in Thruvision
Financial Instrument Group plc
----------------------------------------- -------------------------------------------------
(b) Identification code GB00B627R876
of the Financial
Instrument
----------------------------------------- -------------------------------------------------
(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 GBP0.221 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 N/A
* Aggregated volume
- Price
----------------------------------------- -------------------------------------------------
(f) Date of the transaction 8 November 2022
----------------------------------------- -------------------------------------------------
(g) Place of the transaction Outside a trading venue
----------------------------------------- -------------------------------------------------
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