Award of Share Options to Executive Director
18 November 2024
Thruvision Group plc
Award of Share Options to Executive Director
Thruvision Group plc (AIM: THRU), ("Thruvision" ) the leading provider of walk-through security technology, announces that on 18 November 2024, Victoria Balchin (Chief Financial Officer) was awarded options under the Company Long Term Incentive Plan ("LTIP").
On 18 November 2024 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 Director detailed below.
Name | Type of option award | No of shares awarded | Exercise price on award | Market Value on award | Date of vesting |
Victoria Balchin | UK unapproved
| 1,000,000 | £0.01 | £100,000 | 18 November 2027 |
The award was granted pursuant to a separate Award Agreement entered into between Thruvision Group plc and the Executive Director noted in the table above.
The 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 award is subject to the achievement of performance conditions relating to the strategic and financial objectives of the Group.
In total 3,050,000 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 14 employees on 18 November 2024 to retain and incentivise key members of the senior leadership team.
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 Tom Black, Executive Chairman Victoria Balchin, Chief Financial Officer | +44 (0)1235 425400 |
Investec Investment Banking (NOMAD & Broker) James Rudd / Patrick Robb | +44 (0)20 7597 5970 |
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 organisationsin 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's offices are near Oxford and Washington DC
Appendix 1
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 non-tax advantaged option award was granted over 1,000,000 Ordinary Shares of 1 pence each in Thruvision Group plc.
The award was granted with an option price of £0.01 per share and will ordinarily become exercisable three years from the date of grant, subject to the grantee's continued service, 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 | 18 November 2024 | |
(g) | Place of the transaction | Outside a trading venue | |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.