Award of Share Options to Executive Directors

Thruvision Group PLC

22 August 2023

 

22 August 2023

Thruvision Group plc

Award of Share Options to Executive Directors

Thruvision Group plc (AIM: THRU), ("Thruvision" ) the leading provider of walk-through security technology, announces that on 22 August 2023, Colin Evans (Chief Executive) and Victoria Balchin (Chief Financial Officer) were awarded options under the Company Long Term Incentive Plan ("LTIP").

On 22 August 2023 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	1,000,000	£0.27	£270,000	22 August 2026
Victoria Balchin	EMI - Tax approved	400,000	£0.27	£108,000	22 August 2026

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 challenging performance conditions relating to revenue and adjusted EBITDA.

In total 2,585,000 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 31 employees on 22 August 2023.

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 Victoria Balchin, Chief Financial Officer	[phone]
Investec Investment Banking (NOMAD & Broker) James Rudd / Patrick Robb / Sebastian Lawrence	[phone]
Meare Consulting Adrian Duffield	[phone]

About Thruvision (www.thruvision.com)

Thruvision is the leading developer, manufacturer and supplier of walk-through security technology. Its technology is deployed in more than 20 countries around the world by government and commercial organisations in a wide range of security situations, where large numbers of people need to be screened quickly, safely and efficiently. Thruvision's patented technology is uniquely capable of detecting concealed objects in real time using an advanced AI-based detection algorithm. The Group has offices and manufacturing capability in the UK and US.

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 1,000,000 Ordinary Shares of 1 pence each in Thruvision Group plc.  The award was granted with an option price of £0.27 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	1,000,000
(e)	Aggregated information -              Aggregated volume -              Price	N/A
(f)	Date of the transaction	22 August 2023
(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 1 pence each in Thruvision Group plc. The award was granted with an option price of £0.27 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	22 August 2023
(g)	Place of the transaction	Outside a trading venue

 

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