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

(Nomad and Broker)

Tel:  +44 (0)20 7523 8000

Bobbie Hilliam

Alex Orr




 

 

 


Alma Strategic Communications

Tel:  +44 (0)20 3405 0209

Rebecca Sanders-Hewett

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

a)

Name:

IG Design Group plc

b)

LEI:

213800J8I5XDZ3JU8496

4.

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

296,145

d)

Aggregated volume:

Price:


N/A - Single transaction

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

a)

Name:

IG Design Group plc

b)

LEI:

213800J8I5XDZ3JU8496

4.

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

233,135

d)

Aggregated volume:

Price:


N/A - Single transaction

e)

Date of the Transaction:

14 August 2024

f)

Place of the Transaction:

Outside trading venue

 

 

 

 

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