Long Term Incentive Plan Awards

IG Design Group PLC

10 August 2023

 

10 August 2023

IG Design Group Plc
('Design Group' or the 'Company')

Long Term Incentive Plan Awards

The Company announces that on 9 August 2023, it awarded a total of 443,342 and 260,330 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 2023 - 2026").

The awards are consistent with the terms summarised in the Directors' Remuneration Report on page 74 of the FY2023 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	New Option award
Director	Ordinary Shares	LTIP 2022-2025 (Not Vested)	LTIP 2023-2026 (Not Vested)
Paul Bal	110,000	480,536	443,342
Rohan Cummings	43,261	-	260,330

For further information, please contact:

IG Design Group plc	01525 887310
Paul Bal, Chief Executive Officer
Rohan Cummings, Chief Financial Officer
Canaccord Genuity Limited	020 7523 8000
Bobbie Hilliam, NOMAD
Harry Pardoe
Alma PR	020 3405 0205
Rebecca Sanders-Hewett	[e-mail]
Josh Royston
Sam Modlin

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: 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	443,342
d)	Aggregated volume: Price:	N/A - Single transaction
e)	Date of the Transaction:	9 August 2023
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: 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	260,330
d)	Aggregated volume: Price:	N/A - Single transaction
e)	Date of the Transaction:	9 August 2023
f)	Place of the Transaction:	Outside trading venue

 

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