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

IG DesignAnnouncement

15/08/2024 07:00

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RNS Number : 5052A  IG Design Group PLC  15 August 2024

15 August 2024

IG Design Group Plc

('Design Group' or the 'Company')

Long Term Incentive Plan Awards

The Company announces that on 14 August 2024, it awarded a total of 296,145
and 233,135 nil cost options ("Options") over ordinary shares of 5 pence each
in the capital of the Company ("Ordinary Shares") to Paul Bal, Chief Executive
Officer, and Rohan Cummings, Chief Financial Officer, respectively, under the
Company's 2022 Long Term Incentive Plan ("LTIP 2024 - 2027").

The awards are consistent with the terms summarised in the Directors'
Remuneration Report on page 92 of the FY2024 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 Bal and Mr Cummings have committed to a two-year
holding period.

Details of the awards made to each Director and their resulting interests in
the Company are detailed in the table below.

 

                                  Existing Option awards       Existing Option awards       New Option award
  Director       Ordinary Shares  LTIP 2022-2025 (Not Vested)  LTIP 2023-2026 (Not Vested)  LTIP 2024-2027(Not Vested)

 Paul Bal        110,000          480,536                      443,342                      296,145
 Rohan Cummings  43,261           -                            260,330                      233,135

 

For further information, please contact:

 

 IG Design Group plc                      Tel: +44 (0)1525 887310
 Paul Bal, Chief Executive Officer
 Rohan Cummings, Chief Financial Officer

 Canaccord Genuity Limited                Tel:  +44 (0)20 7523 8000

 (Nomad and Broker)
 Bobbie Hilliam

 Alex Orr

 Alma Strategic Communications            Tel:  +44 (0)20 3405 0209
 Rebecca Sanders-Hewett                   designgroup@almastrategic.com (mailto:designgroup@almastrategic.com)
 Sam Modlin

 Josh Royston

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                     Paul Bal
 2   Reason for the notification
 a)  Position/Status:                          Chief Executive 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 conditional options, conditional on future performance
 c)  Price(s) and volume(s):                   Price(s)                          Volume(s)
     nil                                                                         296,145
 d)  Aggregated volume:                        N/A - Single transaction

     Price:
 e)  Date of the Transaction:                  14 August 2024
 f)  Place of the Transaction:                 Outside trading venue

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                     Rohan Cummings
 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                                                                        233,135
 d)  Aggregated volume:                        N/A - Single transaction

     Price:
 e)  Date of the Transaction:                  14 August 2024
 f)  Place of the Transaction:                 Outside trading venue

 

 

 

 

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