IG Design Group PLC Long Term Incentive Awards (7456K)

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:  [phone] 

Paul Fineman, Chief Executive

Anthony Lawrinson, Chief Financial Officer

   Cenkos Securities                                                            Tel:  [phone] 

Bobbie Hilliam

Harry Pardoe

   Redleaf Communications                                            Tel: [phone] 
   Rebecca Sanders-Hewett                                             [e-mail] 

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)