LTIP and DSBP Awards
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| Executive Director | Type of LTIP Award | Number of LTIP awards | Earliest Exercise Date |
|---|---|---|---|
| Ronnie George, Chief Executive Officer | Nil-cost option 1 | 143,046 | 5 years from grant 2 |
| Andy O'Brien, Chief Financial Officer | Nil-cost option 1 | 81,618 | 5 years from grant 2 |
Notes:
- Subject to performance criteria as set out below.
The LTIP awards set out above are subject to performance criteria and will vest subject to the achievement of performance against targets measured over a three-year performance period.
Due to the timing of the proposed acquisition of the Fantech group of companies in Australasia (which remains subject to anti-trust approval), the Company's Remuneration Committee ("Committee") was not in a position to approve the targets at the time of grant. These targets will be set once the impact of the acquisition on the LTIP measures and targets has been assessed in more detail. The measures and targets will be disclosed in full on the Company's website once approved by the Committee.
The price used to calculate the number of LTIP awards was £6.0817 per ordinary share, being the average of the mid-market closing price of a Volution ordinary share on the three consecutive business days immediately preceding the date of grant. No consideration was paid for the LTIP awards. The LTIP awards shown above represent the maximum number of nil-cost options which could vest.
Deferred Share Bonus Plan
DSBP award
| Ronnie George, Chief Executive Officer | 38,024 |
| Andy O'Brien, Chief Financial Officer | 26,034 |
As set out in the Volution Remuneration Policy, under the Company's Annual Bonus Plan for the financial year ended 31 July 2024, one third of any bonus payment earned by the Executive Directors will normally be deferred into awards over the Company's shares.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Ronnie George |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Volution Group plc |
| b) | LEI | 213800EPT84EQCDHO768 |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 1 pence each ISIN: GB00BN3ZZ526 |
| b) | Nature of the transaction | Grant of nil-cost options under the Volution Long Term Incentive Plan (LTIP). Grant of conditional awards under the Volution Deferred Share Bonus Plan (DSBP). |
| c) | Price(s) and volume(s) | LTIP: Price(s) Volume(s) £NIL 143,046 DSBP: Price(s) Volume(s) £NIL 38,024 |
| d) | Aggregated information - Aggregated volume - Price | LTIP: 143,046 ordinary shares at £NIL DSBP: 38,024 ordinary shares at £NIL |
| e) | Date of the transaction | 16 October 2024 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Andy O'Brien |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Volution Group plc |
| b) | LEI | 213800EPT84EQCDHO768 |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 1 pence each ISIN: GB00BN3ZZ526 |
| b) | Nature of the transaction | Grant of nil-cost options under the Volution Long Term Incentive Plan (LTIP). Grant of conditional awards under the Volution Deferred Share Bonus Plan (DSBP). |
| c) | Price(s) and volume(s) | LTIP: Price(s) Volume(s) £NIL 81,618 DSBP Price(s) Volume(s) £NIL 26,034 |
| d) | Aggregated information - Aggregated volume - Price | LTIP: 81,618 ordinary shares at £NIL DSBP: 26,034 ordinary shares at £NIL |
| e) | Date of the transaction | 16 October 2024 |
| f) | Place of the transaction | Outside a trading venue |
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