Long Term Incentive Plan

RNS Number : 5293I

IP Group PLC

30 May 2014

 

FOR RELEASE ON

30 May 2014

IP Group plc - Long Term Incentive Plan

IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the Group"), the developer of intellectual property based businesses, announces that it has made conditional awards of 2,042,510 ordinary shares of two pence each ("Shares") to its executive directors, other persons discharging managerial responsibilities ("PDMRs") and certain other employees under its Long Term Incentive Plan (the "LTIP").

Conditional awards have been made to the executive directors and PDMRs totalling 999,565 as follows:

Executive Director/PDMR	Maximum number of  Shares conditionally awarded in respect of 2013 LTIP	Maximum number of Shares conditionally awarded in respect of 2014 LTIP	Maximum number of conditionally awarded Shares outstanding at the date of this announcement
Alan Aubrey	143,239	147,042	592,976
David Baynes	-	117,634	563,634*
Mike Townend	114,592	117,634	462,851
Greg Smith	81,127	94,310	318,205
Angela Leach	97,790	86,197	293,808

* includes 446,000 Shares conditionally awarded under the former Fusion IP plc LTIP scheme

The number of Ordinary Shares stated is the maximum number that could be issued to each executive director or PDMR upon full satisfaction of the performance conditions attaching to the awards.

In addition to the above, awards over a total of 1,042,945 Shares were made to certain other of the Group's employees in connection with the 2013 and 2014 LTIPs.

The performance measures attaching to the 2013 and 2014 awards are based on the achievement of targets linked to growth in the Company's "hard" net assets and total shareholder return as described in the Directors' Remuneration Report of the 2013 Annual Report and Accounts. The Group's Directors' Remuneration Policy and Directors' Remuneration Report was recently approved by 99.9% of the Company's shareholders at its Annual General Meeting held on 13 May 2014.

Assuming satisfaction of the conditions in full, the awards will vest on 31 March 2016 and 31 March 2017 respectively and the Ordinary Shares will be issued as soon as practicable after these dates.

As at the date of this announcement, a total of 4,932,654 Ordinary Shares have been conditionally awarded to executive directors, PDMRs and employees of IP Group and remain subject to performance conditions. The Company currently has 479,524,397 Ordinary Shares in issue.

A copy of the rules of the LTIP is available to shareholders upon request or can be accessed on the Group's website.

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer	[phone]
Liz Vaughan-Adams, Communications	[phone] / [phone] [e-mail]
FTI Consulting
John Dineen	[phone]

Notes for editors

About IP Group

IP Group is a leading UK intellectual property ("IP") commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.

The Company's portfolio comprises holdings in approximately 90 companies including Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.

The portfolio includes early stage to mature businesses and has exposure to five main sectors - Energy & Renewables, Healthcare, Biotech, IT & Communications and Chemicals & Materials.

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

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