REG - IG Design Group PLC - Long Term Incentive Plan Awards

IG DesignAnnouncement

12/08/2022 07:00

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RNS Number : 7856V  IG Design Group PLC  12 August 2022

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  LTIP 2017-2020  LTIP 2018-2021  LTIP 2022 - 2025

                                                       (Vested)        (vested)        (vested)        (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                           Tel: +44 (0)1525 887310

 Stewart Gilliland, Interim Executive Chair

 Paul Bal, CFO
 Canaccord Genuity Limited (Nomad and Broker)  Tel:  +44 (0)20 7523 8000

 Bobbie Hilliam

 Alex Aylen - Sales
 Alma PR                                       Tel:  +44 (0)20 3405 0209

 Susie Hudson                                  designgroup@almapr.co.uk (mailto:designgroup@almapr.co.uk)

 Sam Modlin

 

 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:  Options over Ordinary Shares of 5 pence each

 
     Identification code:

                                               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:                        N/A - Single transaction

     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:  Options over Ordinary Shares of 5 pence each

 
     Identification code:

                                               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:                        N/A - Single transaction

     Price:
 e)  Date of the Transaction:                  11 August 2022
 f)  Place of the Transaction:                 Outside trading venue

 

 

 

 

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