Director/PDMR Shareholding

RNS Number : 9861E

IP Group PLC

16 April 2014

 

FOR RELEASE ON

16 April 2014

IP Group plc

("IP Group" or the "Company" or the "Group")

Awards under deferred share bonus plan

This notification is made in accordance with DTR 3.1.4.

On 15 April 2014, awards over ordinary shares of 2 pence each in the capital of the Company ("Shares") were made to certain Executive Directors, other persons discharging managerial responsibilities ("PDMRs") and certain other employees under the Company's Deferred Bonus Share Plan ("DBSP"). The awards reflect the deferral of fifty per cent. of each person's award under the Group's Annual Incentive Scheme ("AIS") in respect of the Company's performance for the financial year ended 31 December 2013. The following table sets out details of the awards made to the Executive Directors and PDMRs: 

Name of Director/PDMR	Structure of award	Number of Shares awarded under the DBSP	Total number of Shares held under the DBSP
Alan Aubrey	Nil-Cost Option	66,074	66,074
Mike Townend	Nil-Cost Option	44,048	44,048
Greg Smith	Nil-Cost Option	31,186	31,186
Charles Winward	Nil-Cost Option	32,160	32,160
Angela Leach	Nil-Cost Option	31,186	31,186

In addition to the above, awards over a total of 144,824 Shares were made to certain other of the Group's employees.

As described above, the awards have been made as a result of the deferral of amounts awarded under the Group's AIS, as more fully described in the Group's 2013 Directors' Remuneration Report. The awards have been made pursuant to the rules of the current DBSP, which enable vested awards only to be satisfied by the transfer of existing Shares from the IP Group employee share ownership trust. Shareholder approval is being sought for an amended DBSP at the Company's 2014 Annual General Meeting to enable vested awards also to be satisfied by the issue of new Shares (including treasury Shares). Further details of the proposed amendments to the DBSP are set out in the AGM Notice which can be found on the Company's website at www.ipgroupplc.com/reports.

No consideration was paid for the grant of the awards and no consideration is due on the maturity of the awards. Fifty per cent. of the awards will normally be exercisable on the first anniversary of the date of grant and fifty per cent. on the second anniversary of the date of grant, each generally subject to continued employment. The awards shall be exercisable for a maximum of three years from the date of grant.

The Company was informed of the above transactions on 15 April 2014.

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Angela Leach, Company Secretary	[phone]
Liz Vaughan-Adams, Communications	[phone] / [phone] [e-mail]

ENDS

 

END

 

 

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