Award of Share Options to Executive Directors

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 award	No of shares awarded	Exercise price on award	Market Value on award	Date of vesting
Colin Evans	Unapproved	800,000	£0.221	£176,800	8 November 2025
Victoria Balchin	EMI - Tax approved	400,000	£0.221	£88,400	8 November 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	[phone]
Investec Bank plc James Rudd / Patrick Robb / Sebastian Lawrence	[phone]
FTI Consulting LLP Matt Dixon /  Tom Blundell	[phone]

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/ 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 £0.221 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 -  Aggregated volume -   Price	N/A
(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/ 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 £0.221 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 -  Aggregated volume -   Price	N/A
(f)	Date of the transaction	8 November 2022
(g)	Place of the transaction	Outside a trading venue

 

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