TIDMTHRU

RNS Number : 0241Q

Thruvision Group PLC

16 June 2020

16 June 2020

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 15 June 2020, Colin Evans (Chief Executive) and Adrian Crockett (Finance Director) were awarded options under the Company Long Term Incentive Plan ("LTIP").

On 15 June 2020 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       No of shares   Exercise    Market Value   Date of vesting 
                    award                awarded        price on    on award 
                                                        award 
 Colin Evans       Unapproved             800,000       GBP0.20     GBP160,000     15 June 2023 
                  -------------------  -------------  ----------  -------------  ---------------- 
 Adrian Crockett   EMI - Tax approved     250,000       GBP0.20     GBP50,000      15 June 2023 
                  -------------------  -------------  ----------  -------------  ---------------- 
 

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 the Thruvision group and will remain exercisable at any point up until the tenth anniversary of the date of grant.

In normal circumstances the Performance Conditions on which the vesting of the awards would depend, would be set on the date of award. However, given the Covid-19 pandemic, it has been agreed that the Performance Conditions will be agreed later this year and no later than 31 December 2020, once the impact of the pandemic on the trading performance of the Company is better understood.

In total 2,310,000 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 12 employees on 15 June 2020.

The notification in appendix 1 to this announcement, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:

For further information please contact:

Thruvision Group plc +44 (0)1235 436180

Tom Black, Executive Chairman

Colin Evans, Chief Executive

Investec Bank plc +44 (0)20 7597 5970

James Rudd / Sebastian Lawrence / Patrick Robb

FTI Consulting LLP +44 (0)20 3727 1000

Matt Dixon / Shamma Kelly

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/                      Initial notification 
         Amendment 
       -----------------------------------------  ------------------------------------------------- 
 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                         Ordinary shares of GBP0.01 each in Thruvision 
         Financial Instrument                       Group plc 
       -----------------------------------------  ------------------------------------------------- 
 (b)    Identification code                        GB00B627R876 
         of the Financial 
         Instrument 
       -----------------------------------------  ------------------------------------------------- 
 (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 GBP0.20 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                     N/A 
          *    Aggregated volume 
 
 
         - Price 
       -----------------------------------------  ------------------------------------------------- 
 (f)    Date of the transaction                    15 June 2020 
       -----------------------------------------  ------------------------------------------------- 
 (g)    Place of the transaction                   Outside a trading venue 
       -----------------------------------------  ------------------------------------------------- 
 
 
 1.     Details of the person discharging managerial responsibilities/person 
         closely associated 
 (a)    Name                                       Adrian Crockett 
       -----------------------------------------  ------------------------------------------------- 
 2.     Reason for the notification 
       -------------------------------------------------------------------------------------------- 
 (a)    Position/status                            Finance Director 
       -----------------------------------------  ------------------------------------------------- 
 (b)    Initial notification/                      Initial notification 
         Amendment 
       -----------------------------------------  ------------------------------------------------- 
 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                         Ordinary shares of GBP0.01 each in Thruvision 
         Financial Instrument                       Group plc 
       -----------------------------------------  ------------------------------------------------- 
 (b)    Identification code                        GB00B627R876 
         of the Financial 
         Instrument 
       -----------------------------------------  ------------------------------------------------- 
 (c)    Nature of the transaction                  Entry into an Award Agreement pursuant 
                                                    to which a tax advantaged Enterprise 
                                                    Management Incentive Award was granted 
                                                    over 250,000 Ordinary Shares of 1pence 
                                                    each in Thruvision Group plc. 
                                                    The award was granted with an option 
                                                    price of GBP0.20 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                                                                       250,000 
  ------------------------------------------------------------------------  ----------------------- 
 
 (e)    Aggregated information                     N/A 
          *    Aggregated volume 
 
 
         - Price 
       -----------------------------------------  ------------------------------------------------- 
 (f)    Date of the transaction                    15 June 2020 
       -----------------------------------------  ------------------------------------------------- 
 (g)    Place of the transaction                   Outside a trading venue 
       -----------------------------------------  ------------------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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