LTIP and DSBP Awards
Executive Directors granted LTIP awards and DSBP awards under remuneration policy.
- Ronnie George LTIP award 156,405 nil-cost options
- Andy O'Brien LTIP award 91,832 nil-cost options
- Ronnie George DSBP award 35,996 conditional shares
- Andy O'Brien DSBP award 24,646 conditional shares
- LTIP valuation price £6.7133 per share
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Volution Group plc ("Volution" or the "Company", LSE: FAN), a leading international designer and manufacturer of energy efficient indoor air quality solutions, today announces that on 15 October 2025 the Executive Directors were granted awards under the Company's 2023 Long Term Incentive Plan ("LTIP awards") and 2023 Deferred Share Bonus Plan ("DSBP awards") as set out below:
Long Term Incentive Plan
| Executive Director | Type of LTIP Award | Number of LTIP awards | Earliest Exercise Date |
|---|---|---|---|
| Ronnie George, Chief Executive Officer | Nil-cost option 1 | 156,405 | 5 years from grant 2 |
| Andy O'Brien, Chief Financial Officer | Nil-cost option 1 | 91,832 | 5 years from grant 2 |
Notes:
- Subject to performance criteria as set out below.
- In accordance with the Volution Remuneration Policy, these LTIP awards are subject to a three-year vesting period followed by an additional two-year holding period before they can be exercised.
The LTIP awards set out above are subject to performance criteria and will vest subject to the achievement of performance against Earnings per Share growth targets, relative Total Shareholder Return and ESG performance measures, all measured over a three-year performance period. Full details of the performance criteria will be included in Volution's Directors' Remuneration Report for the financial year ended 31 July 2025.
The price used to calculate the number of LTIP awards was £6.7133 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 | 35,996 |
| Andy O'Brien, Chief Financial Officer | 24,646 |
As set out in the Volution Remuneration Policy, under the Company's Annual Bonus Plan for the financial year ended 31 July 2025, one third of any bonus payment earned by the Executive Directors will normally be deferred into awards over the Company's shares.
The DSBP awards set out above were made in the form of conditional awards, which will, subject to the rules of the DSBP, have a normal vesting date of 15 October 2028. No consideration was paid for the DSBP awards and no consideration is due to be payable on vesting.
The attached notifications, made pursuant to Article 19(3) of the Market Abuse Regulation, provide further details.
| 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 156,405 DSBP: Price(s) Volume(s) £NIL 35,996 |
| d) | Aggregated information - Aggregated volume - Price | LTIP: 156,405 ordinary shares at £NIL DSBP: 35,996 ordinary shares at £NIL |
| e) | Date of the transaction | 15 October 2025 |
| 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 91,832 DSBP Price(s) Volume(s) £NIL 24,646 |
| d) | Aggregated information - Aggregated volume - Price | LTIP: 91,832 ordinary shares at £NIL DSBP: 24,646 ordinary shares at £NIL |
| e) | Date of the transaction | 15 October 2025 |
| f) | Place of the transaction | Outside a trading venue |
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