Source - RNS
RNS Number : 7456K
IG Design Group PLC
26 September 2016
 

26 September 2016

IG Design Group Plc

 

(the "Company", the "Group" or "Design Group")

 

Long Term Incentive Awards

 

As part of a wider award to senior management, Design Group today announces it intends to issue up to 145,770 ordinary shares of 5 pence each in the Company ("Ordinary Shares") to Paul Fineman (Group CEO), 116,616 Ordinary Shares to Anthony Lawrinson (Group CFO) and 107,870 Ordinary Shares to Lance Burn (Director) under the Long Term Incentive Plan announced on 31 March 2014.

The issue of Ordinary Shares set out above is conditional upon, and proportionate to, the achievement of two performance conditions over a defined period from 1 April 2016 to 31 March 2019.  Those performance conditions are:

·    Growth in fully diluted earnings per share before exceptional items (60%)

·    Growth in profit before tax before exceptional items (40%)

Growth targets range from 7.5% to 17.5% for EPS and 10% to 17.5% for profit over the performance period for shares to vest.  Each metric is tested independently according to the weighting above.

The cost to the Executives of the Ordinary Shares to be issued under the LTIP, if the performance criteria are met, will be nil.

As a result the three Executives will have the following interests in the Company's Ordinary Shares:


Ordinary Shares

LTIP 2012-2015

(Vested)

LTIP  2014-2017

(Not Yet Vested)

LTIP 2015-2018 (Not Yet Vested)

LTIP 2016-2019 (Not Yet Vested)

Lance Burn

-

-

262,083

185,877

107,870

Paul Fineman*

4,453,534



200,948

145,770

Anthony Lawrinson


500,000

283,334

160,759

116,616

*Paul Fineman owns a non-beneficial interest of a further 174,608 ordinary shares

The total number of Ordinary Shares that are subject to award to Company employees under the 2016-2019 Long Term Incentive Plan is 896,650, including the amounts stated above.

 

For further information, please contact:

 

IG Design Group Plc                                                       Tel:  01525 887310

Paul Fineman, Chief Executive

Anthony Lawrinson, Chief Financial Officer

 

Cenkos Securities                                                            Tel:  020 7397 8900

Bobbie Hilliam

Harry Pardoe

 

Redleaf Communications                                            Tel: 0207 382 4730

Rebecca Sanders-Hewett                                             [email protected]

Sarah Fabietti-Dallison

Susie Hudson

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Paul Fineman, Anthony Lawrinson and Lance Burn

2

 

Reason for the notification

 

a)

 

Position/status

 

 

CEO, CFO and Executive Director, respectively

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

IG Design Group plc

b)

 

LEI

 

 

N/a

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, type of instrument

 

Identification code

 

 

Ordinary Shares of 5 pence each

 

 

ISIN: GB0004526900

b)

 

Nature of the transaction

 

 

Grant of Ordinary Shares, conditional on future performance

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

£nil (all)

 

Lance Burn - up to 107,870

 

Paul Fineman - up to 145,770

 

Anthony Lawrinson - up to 116,616

 

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

370,356

 

 

£nil

 

e)

 

Date of the transaction

 

 

23 September 2016

f)

 

Place of the transaction

 

 

N/a

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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