12 August 2022
IG Design Group Plc
('Design Group' or the 'Company')
Long Term Incentive Plan Awards
The Company announces that on 11 August 2022, it awarded a total of 410,759 conditional awards and 480,536 nil cost options ("Options") over ordinary shares of 5 pence each in the capital of the Company ("Ordinary Shares") to Lance Burn, Interim COO, and Paul Bal, Chief Financial Officer, respectively, under the Company's 2022 Long Term Incentive Plan ("LTIP 2022 - 2025").
The awards are consistent with the terms summarised in the Directors' Remuneration Report on page 69 of the FY2022 Annual Report and Accounts and accordingly are subject to certain performance conditions set by the Company's Remuneration Committee being achieved during a three year period (two thirds based on relative TSR vs FTSE SmallCap (ex IT) constituents; one-third based on EPS growth). An 'underpin' condition also applies to the awards that allows the Remuneration Committee to reduce vesting levels if it determines that vesting outcomes reflect unwarranted 'windfall gains' from share price movements. In addition, Mr Burn and Mr Bal have committed to a two-year holding period. Fuller details regarding these awards will be disclosed in the Company's Directors' Remuneration Report for FY2023.
Details of the awards made to each Director and their resulting interests in the Company are detailed in the table below.
| |
| Existing Option awards | New Option award | |||
| Director | Ordinary Shares | LTIP 2015-2018 (Vested) | LTIP 2016-2019 (Vested) | LTIP 2017-2020 (vested) | LTIP 2018-2021 (vested) | LTIP 2022 - 2025 (Not vested) |
| | | | | | | |
| Lance Burn | 25,679 | - | - | 48,025 | 55,915 | 410,759 |
| Paul Bal | 110,000 | - | - | - | - | 480,536 |
For further information, please contact:
| IG Design Group Plc Stewart Gilliland, Interim Executive Chair Paul Bal, CFO | Tel: +44 (0)1525 887310
|
| Canaccord Genuity Limited (Nomad and Broker) Bobbie Hilliam Alex Aylen - Sales | Tel: +44 (0)20 7523 8000
|
| Alma PR Susie Hudson Sam Modlin | Tel: +44 (0)20 3405 0209 |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name: | Lance Burn | |
| 2 | Reason for the notification | ||
| a) | Position/Status: | Interim COO | |
| b) | Initial Notification/Amendment: | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor | ||
| a) | Name: | IG Design Group plc | |
| b) | LEI: | 213800J8I5XDZ3JU8496 | |
| 4. | Details of 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: Identification code: | Options over Ordinary Shares of 5 pence each ISIN: GB0004526900 | |
| b) | Nature of the transaction: | Award of conditional options, conditional on future performance | |
| c) | Price(s) and volume(s): | Price(s) | Volume(s) |
| nil | 410,759 | ||
| d) | Aggregated volume: Price: |
| |
| e) | Date of the Transaction: | 11 August 2022 | |
| f) | Place of the Transaction: | Outside trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name: | Paul Bal | |
| 2 | Reason for the notification | ||
| a) | Position/Status: | Chief Financial Officer | |
| b) | Initial Notification/Amendment: | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor | ||
| a) | Name: | IG Design Group plc | |
| b) | LEI: | 213800J8I5XDZ3JU8496 | |
| 4. | Details of 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: Identification code: | Options over Ordinary Shares of 5 pence each ISIN: GB0004526900 | |
| b) | Nature of the transaction: | Award of nil cost options, conditional on future performance | |
| c) | Price(s) and volume(s): | Price(s) | Volume(s) |
| nil | 480,536 | ||
| d) | Aggregated volume: Price: |
| |
| e) | Date of the Transaction: | 11 August 2022 | |
| f) | Place of the Transaction: | Outside trading venue | |
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