IG Design Group PLC Long Term Incentive Awards (7456K)
26 September 2016 - 4:01PM
UK Regulatory
TIDMIGR
RNS Number : 7456K
IG Design Group PLC
26 September 2016
26 September 2016
IG Design Group Plc
(the "Company", the "Group" or "Design Group")
Long Term Incentive Awards
As part of a wider award to senior management, Design Group
today announces it intends to issue up to 145,770 ordinary shares
of 5 pence each in the Company ("Ordinary Shares") to Paul Fineman
(Group CEO), 116,616 Ordinary Shares to Anthony Lawrinson (Group
CFO) and 107,870 Ordinary Shares to Lance Burn (Director) under the
Long Term Incentive Plan announced on 31 March 2014.
The issue of Ordinary Shares set out above is conditional upon,
and proportionate to, the achievement of two performance conditions
over a defined period from 1 April 2016 to 31 March 2019. Those
performance conditions are:
-- Growth in fully diluted earnings per share before exceptional items (60%)
-- Growth in profit before tax before exceptional items (40%)
Growth targets range from 7.5% to 17.5% for EPS and 10% to 17.5%
for profit over the performance period for shares to vest. Each
metric is tested independently according to the weighting
above.
The cost to the Executives of the Ordinary Shares to be issued
under the LTIP, if the performance criteria are met, will be
nil.
As a result the three Executives will have the following
interests in the Company's Ordinary Shares:
Ordinary LTIP 2012-2015 LTIP 2014-2017 LTIP 2015-2018 LTIP 2016-2019
Shares (Not Yet (Not Yet
Vested) Vested)
(Vested) (Not Yet
Vested)
--------------- ---------- --------------- --------------- --------------- ---------------
Lance Burn - - 262,083 185,877 107,870
--------------- ---------- --------------- --------------- --------------- ---------------
Paul Fineman* 4,453,534 200,948 145,770
--------------- ---------- --------------- --------------- --------------- ---------------
Anthony
Lawrinson 500,000 283,334 160,759 116,616
--------------- ---------- --------------- --------------- --------------- ---------------
*Paul Fineman owns a non-beneficial interest of a further
174,608 ordinary shares
The total number of Ordinary Shares that are subject to award to
Company employees under the 2016-2019 Long Term Incentive Plan is
896,650, including the amounts stated above.
For further information, please contact:
IG Design Group Plc Tel: 01525 887310
Paul Fineman, Chief Executive
Anthony Lawrinson, Chief Financial Officer
Cenkos Securities Tel: 020 7397 8900
Bobbie Hilliam
Harry Pardoe
Redleaf Communications Tel: 0207 382 4730
Rebecca Sanders-Hewett designgroup@redleafpr.com
Sarah Fabietti-Dallison
Susie Hudson
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------------------
a) Name Paul Fineman, Anthony Lawrinson
and Lance Burn
--- ------------------------- -------------------------------------
2 Reason for the notification
--- ----------------------------------------------------------------
a) Position/status CEO, CFO and Executive Director,
respectively
--- ------------------------- -------------------------------------
b) Initial notification Initial notification
/Amendment
--- ------------------------- -------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------------------
a) Name IG Design Group plc
--- ------------------------- -------------------------------------
b) LEI N/a
--- ------------------------- -------------------------------------
4 Details of the 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 Ordinary Shares of 5 pence
the financial each
instrument, type
of instrument
ISIN: GB0004526900
Identification
code
--- ------------------------- -------------------------------------
b) Nature of the Grant of Ordinary Shares,
transaction conditional on future performance
--- ------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------- -------------------
GBPnil (all) Lance Burn -
up to 107,870
Paul Fineman
- up to 145,770
Anthony Lawrinson
- up to 116,616
------------- -------------------
--- ------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume
370,356
- Price
GBPnil
--- ------------------------- -------------------------------------
e) Date of the transaction 23 September 2016
--- ------------------------- -------------------------------------
f) Place of the transaction N/a
--- ------------------------- -------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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September 26, 2016 02:01 ET (06:01 GMT)