IGR Ig Design Group Plc

TIDMIGR

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   LTIP 2015-2018    LTIP 2016-2019      LTIP       LTIP 2018-2021     LTIP 2022 
                Shares       (Vested)                         2017-2020                        - 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        Tel: +44 (0)20 7523 
  and Broker)                             8000 
  Bobbie Hilliam 
  Alex Aylen - Sales 
 Alma PR                                 Tel: +44 (0)20 3405 
  Susie Hudson                            0209 
  Sam Modlin                              designgroup@almapr.co.uk 
 
 
 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                             Options over Ordinary Shares of 5 pence 
        financial instrument:                          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: 
        Price:                                         N/A - Single transaction 
      ---------------------------------------------  --------------------------------------------- 
 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                             Options over Ordinary Shares of 5 pence 
        financial instrument:                          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: 
        Price:                                         N/A - Single transaction 
      ---------------------------------------------  --------------------------------------------- 
 e)    Date of the Transaction:                       11 August 2022 
      ---------------------------------------------  --------------------------------------------- 
 f)    Place of the Transaction:                      Outside trading venue 
      ---------------------------------------------  --------------------------------------------- 
 

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August 12, 2022 02:00 ET (06:00 GMT)