RSP awards and Scrip Elections

RNS Number : 9129Q

IP Group PLC

30 June 2022

 

FOR RELEASE ON

30 June 2022

IP Group plc - RSP awards and Scrip Elections; Director/PDMR shareholding

IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), which develops world-changing science and technology businesses across life sciences, technology and cleantech, announces that, further to the announcements dated 06 June 2022 and 29 June 2022 in connection with the Scrip Dividend, a combined total of 5,413 ordinary shares of two pence each ("Shares") in aggregate have been allotted to five of the Group's persons discharging managerial responsibilities ("PDMRs"), following their respective elections to take up the Scrip Dividend in relation to some or all of their current shareholdings, as further detailed below :

PDMR	No. of Shares
Greg Smith	1,577
Angela Leach	2,270
Lisa Patel	88
Christopher Glasson	92
Douglas Moray Wright	1,386

Restricted Share Plan Awards

Further, IP Group announces the following in connection with its employee share schemes.

Following approval of the Group's Directors' 2021 Remuneration Report ("2021 DRR"), the Directors' Remuneration Policy and the rules of its Restricted Share Plan ("RSP") at its 2022 AGM, the Group has made awards under its RSP ("Awards") of 3,532,744 Shares to its executive directors, other PDMRs and certain other employees on 28 June 2022.

Vesting of these Awards will take place over a three-year period commencing on 1 April 2022 (the "Vesting Period").  The vesting of the Awards will be subject to review by the Group's Remuneration Committee at the end of the Vesting Period of performance as against both a financial underpin based on adjusted NAV growth over the period of three financial years ending on 31 December 2024 and other qualitative performance measures (together the "Underpin Criteria"), as further described in the 2021 DRR.

Awards made to the executive directors and other PDMRs are set out in the table below, and Awards over a further 1,223,434 Shares have been made to other of the Group's employees. The number of Shares stated is the maximum number that could vest at the end of the Vesting Period for each executive director or PDMR.  If the Committee considers that any of the Underpin Criteria is not met as part of its review at the end of the Vesting Period, it will then consider whether it was appropriate to scale back the number of shares that vest (including to nil).

The number of Awards made was calculated using the closing price on 27 June 2022 of 75.5p.

Subject to the Remuneration Committee's review of performance against the Underpin Criteria, the Awards will ordinarily vest on or around 31 March 2025. Any Awards which vest will ordinarily be subject to a post-vesting holding period of two years. Shares will be issued in connection with any vested Awards at the end of this holding period.

Executive Director/PDMR	Maximum number of Shares conditionally awarded in respect of 2022 RSP
Greg Smith	1,043,046
David Baynes	476,809
Mark Reilly	144,039
Anthony York	136,430
Sam Williams	123,178
Christopher Glasson	104,304
Angela Leach	99,337
Elizabeth Vaughan-Adams	74,503
Douglas Moray Wright	53,642
Dan Xie	35,665
Lisa Patel	18,357
Total	2,309,310

Shares in issue

The Group currently has 1,063,033,287 Shares in issue and 28,607,622 Shares held in Treasury.

The following information is being disclosed pursuant to the requirements of MAR.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

RSP Awards

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Greg Smith David Baynes Mark Reilly Anthony York Sam Williams Christopher Glasson Angela Leach Elizabeth Vaughan-Adams Douglas Moray Wright Dan Xie Lisa Patel
2	Reason for the notification
a)	Position/status	Executive Director - CEO Executive Director - CFOO PDMR - Managing Partner PDMR - Group People Director PDMR - Managing Partner PDMR - Finance Director PDMR - Group General Counsel PDMR - Head of Communications PDMR - CEO ParkWalk PDMR - Managing Director - Greater China PDMR - Partner, Life Sciences
	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IP Group plc
b)	Legal Entity Identifier	213800HG22UM138WFG43
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 the financial instrument, type of instrument Identification code	Ordinary Shares of 2p each in IP Group plc   ISIN: GB00B128J450
b)	Nature of the transaction	Conditional award of Shares under the IP Group plc RSP
c)	Currency	GBP
d)	Price(s) and volume(s)	Name(s) Price(s) Volume(s) Greg Smith Nil 1,043,046 David Baynes Nil 476,809 Mark Reilly Nil 144,039 Anthony York Nil 136,430 Sam Williams Nil 123,178 Christopher Glasson Nil 104,304 Angela Leach Nil 99,337 Elizabeth Vaughan-Adams Nil 74,503 Douglas Moray Wright Nil 53,642 Dan Xie Nil 35,665 Lisa Patel Nil 18,357
e)	Aggregated information -Aggregated volume - Price - Aggregated total	Aggregated Number of Shares conditionally awarded under the RSP to Directors and PDMRs on 28 June 2022: 2,309,310 Price: £ nil 2,309,310
f)	Date of the transaction	28 June 2022
g)	Place of the transaction	Outside a trading venue

Scrip Election

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Greg Smith
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 participant, auction platform, auctioneer or auction monitor
a)	Name	IP Group plc
b)	Legal Entity Identifier	213800HG22UM138WFG43
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 the financial instrument, type of instrument Identification code	Ordinary Shares of 2p each in IP Group plc ISIN: GB00B128J450
b)	Nature of the transaction	Election of Scrip Dividend
c)	Currency	GBP
d)	Price(s) and volume(s)	Name(s) Price(s) Volume(s) Greg Smith   85.3p  1,577
e)	Aggregated information -Aggregated volume - Price - Aggregated total	1,577 85.3p £1,345.19
f)	Date of the transaction	30 June 2022
g)	Place of the transaction	London Stock Exchange, Main Market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Angela Leach
2	Reason for the notification
a)	Position/status	PDMR  General Counsel & Company Secretary
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IP Group plc
b)	Legal Entity Identifier	213800HG22UM138WFG43
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 the financial instrument, type of instrument Identification code	Ordinary Shares of 2p each in IP Group plc ISIN: GB00B128J450
b)	Nature of the transaction	Election of Scrip Dividend
c)	Currency	GBP
d)	Price(s) and volume(s)	Name(s) Price(s)   Volume(s) Angela Leach   85.3p   2,270
e)	Aggregated information -Aggregated volume - Price - Aggregated total	2,270 85.3p £1,936.31
f)	Date of the transaction	30 June 2022
g)	Place of the transaction	London Stock Exchange, Main Market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Lisa Patel
2	Reason for the notification
a)	Position/status	PDMR Partner, Employee Executive
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IP Group plc
b)	Legal Entity Identifier	213800HG22UM138WFG43
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 the financial instrument, type of instrument Identification code	Ordinary Shares of 2p each in IP Group plc ISIN: GB00B128J450
b)	Nature of the transaction	Election of Scrip Dividend
c)	Currency	GBP
d)	Price(s) and volume(s)	Name(s) Price(s)   Volume(s) Lisa Patel   85.3p   88
e)	Aggregated information -Aggregated volume - Price - Aggregated total	88 85.3p £75.07
f)	Date of the transaction	30 June 2022
g)	Place of the transaction	London Stock Exchange, Main Market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Christopher Glasson
2	Reason for the notification
a)	Position/status	PDMR Finance Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IP Group plc
b)	Legal Entity Identifier	213800HG22UM138WFG43
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 the financial instrument, type of instrument Identification code	Ordinary Shares of 2p each in IP Group plc ISIN: GB00B128J450
b)	Nature of the transaction	Election of Scrip Dividend
c)	Currency	GBP
d)	Price(s) and volume(s)	Name(s) Price(s)   Volume(s) Christopher Glasson   85.3p   92
e)	Aggregated information -Aggregated volume - Price - Aggregated total	92 85.3p £78.48
f)	Date of the transaction	30 June 2022
g)	Place of the transaction	London Stock Exchange, Main Market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Douglas Moray Wright
2	Reason for the notification
a)	Position/status	PDMR CEO, Parkwalk
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IP Group plc
b)	Legal Entity Identifier	213800HG22UM138WFG43
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 the financial instrument, type of instrument Identification code	Ordinary Shares of 2p each in IP Group plc ISIN: GB00B128J450
b)	Nature of the transaction	Election of Scrip Dividend
c)	Currency	GBP
d)	Price(s) and volume(s)	Name(s) Price(s)   Volume(s) Douglas Moray Wright   85.3p   1,386
e)	Aggregated information -Aggregated volume - Price - Aggregated total	1,386 85.3p £1,182.26
f)	Date of the transaction	30 June 2022
g)	Place of the transaction	London Stock Exchange, Main Market

For more information, please contact:

IP Group plc	www.ipgroupplc.com
David Baynes, Chief Financial and Operating Officer Liz Vaughan-Adams, Communications	[phone] [phone]/[phone]
Charlotte Street Partners
Andrew Wilson	[phone]
David Gaffney	[phone]

Notes for editors

About IP Group

IP Group develops world-changing science and technology businesses across life sciences, technology and cleantech (through Kiko Ventures). The Group has a strong track record of success, having been the founder investor in a number of high-profile companies including Oxford Nanopore Technologies plc, and has one of the most exciting portfolios of high-growth businesses in Europe. The Group also owns Parkwalk, the UK's largest growth EIS fund manager which backs world-changing technologies emerging from the UK's leading universities and research institutions. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.

For more information, please visit our website at www.ipgroupplc.com .

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