Source - RNS
RNS Number : 0904L
IP Group PLC
16 April 2018
 

FOR RELEASE ON

16 April 2018

 

 

IP Group plc - Issue of equity and awards under DBSP

 

IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), the developer of intellectual property-based businesses, announces the following in connection with its employee share schemes.

 

Deferred Bonus Share Plan ("DBSP")

 

The Group has issued 241,145 new ordinary shares of 2p each ("Shares") following the exercise of nil-cost DBSP options by certain employees on 12 April 2018. One of the Group's persons discharging managerial responsibilities ("PDMRs"), Mark Reilly, has exercised his options and sold sufficient shares to meet his tax liabilities and has retained the balance.

 

An application has been made to the Financial Conduct Authority for admission of the New Shares to the premium listing segment of the Official List maintained by the UK Listing Authority and to the London Stock Exchange. It is expected that admission will take place on 20 April 2018.

 

The Group also announces that on 12 April 2018, awards over Ordinary Shares were made to certain Executive Directors, PDMRs and certain other employees under the Company's DBSP. The awards reflect the deferral of fifty per cent. of each person's award above £25,000 under the Group's Annual Incentive Scheme ("AIS") in respect of the Company's performance for the financial year ended 31 December 2017. The following table sets out details of the awards made to the Executive Directors and PDMRs: 

 

Name of Director/PDMR

Structure of award

Number of Shares awarded under the DBSP

Total number of Shares held under the DBSP

Alan Aubrey

Nil-Cost Option

             79,641

              122,351

David Baynes

Nil-Cost Option

             49,472

                75,453

Mike Townend

Nil-Cost Option

             49,472

                75,453

Greg Smith

Nil-Cost Option

             49,472

                72,109

Sam Williams

Nil-Cost Option

             31,280

                54,504

Mark Reilly

Nil-Cost Option

                7,011

                  7,011

 

In addition to the above, awards over a total of 88,453 shares were made to certain other of the Group's employees.

No consideration was paid for the grant of the awards and no consideration is due on the maturity of the awards. Fifty per cent. of the awards will normally be exercisable on the first anniversary of the date of grant and fifty per cent. on the second anniversary of the date of grant, each generally subject to continued employment. The awards shall be exercisable for a maximum of three years from the date of grant.

Shares in issue

Following admission of the new Shares, the Company will have 1,059,144,595 ordinary shares in issue. The following information is being disclosed pursuant to the requirements of MAR.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Alan Aubrey
Mike Townend
Greg Smith
David Baynes
Sam Williams
Mark Reilly

2

Reason for the notification

a)

Position/status

Director        Chief Executive Officer
Director        Chief Investment Officer
Director        Chief Financial Officer
Director        Chief Operating Officer
PDMR          Managing Partner, Life Sciences
PDMR          Managing Partner, Technology

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

IP Group plc

b)

Legal Entity Identifier

213800HG22UM138WFG43

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 2p each in IP Group plc

 

ISIN: GB00B128J450

b)

Nature of the transaction

Grant of Options under the IP Group plc DBSP

c)

Currency

GBP

d)

Price(s) and volume(s)

Name(s)

Price(s)

Volume(s)

Alan Aubrey

Nil cost option

             79,641

Mike Townend

Nil cost option

             49,472

Greg Smith

Nil cost option

             49,472

David Baynes

Nil cost option

             49,472

Sam Williams

Nil cost option

             31,280

Mark Reilly

Nil cost option

                7,011

 

e)

Aggregated information

-Aggregated volume

- Price

- Aggregated total

 

Aggregated Number of Shares Granted Under the DBSP to Directors and PDMRs on 12 April 2018: 266,348

Price: £ nil

f)

Date of the transaction

 

g)

Place of the transaction

London Stock Exchange, Main Market

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Mark Reilly

2

Reason for the notification

a)

Position/status

PDMR          Managing Partner, Technology

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

IP Group plc

b)

Legal Entity Identifier

213800HG22UM138WFG43

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 2p each in IP Group plc


ISIN: GB00B128J450

b)

Nature of the transaction

Exercise of options in connection with the 2016 DBSP Awards

c)

Currency

GBP

d)

Price(s) and volume(s)

 

Name(s)

Price(s)

Volume(s)

Mark Reilly

 Nil cost option

 

 

e)

Aggregated information

-Aggregated volume

- Price

- Aggregated total

 

8,862 shares

127p

£11,254.74

f)

Date of the transaction

12 April 2018

g)

Place of the transaction

London Stock Exchange, Main Market

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Mark Reilly

2

Reason for the notification

a)

Position/status

PDMR          Managing Partner, Technology

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

IP Group plc

b)

Legal Entity Identifier

213800HG22UM138WFG43

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 2p each in IP Group plc

 
ISIN: GB00B128J450

b)

Nature of the transaction

Sale

c)

Currency

GBP

d)

Price(s) and volume(s)

 

Name(s)

Price(s)

Volume(s)

Mark Reilly

127p

 

 

e)

Aggregated information

-Aggregated volume

- Price

- Aggregated total

 

4,184 shares

127p

£5,313.68

f)

Date of the transaction

12 April 2018

g)

Place of the transaction

London Stock Exchange, Main Market

 

 

For more information, please contact:

 

IP Group plc

www.ipgroupplc.com

Alan Aubrey, Chief Executive Officer
Greg Smith, Chief Financial Officer
Liz Vaughan-Adams, Communications           

+44 (0) 20 7444 0050

+44 (0) 20 7444 0062/+44 (0) 7979 853802

Charlotte Street Partners

 

Andrew Wilson

+44 (0) 7810 636995

Martha Walsh

+44 (0) 7876 245962

 

Notes for editors

 

About IP Group

 

IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.

 

For more information, please visit our website at www.ipgroupplc.com.

 

ENDS


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