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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ig Design Group Plc | LSE:IGR | London | Ordinary Share | GB0004526900 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
9.00 | 4.48% | 210.00 | 205.00 | 215.00 | 210.00 | 201.00 | 201.00 | 36,152 | 09:35:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Convrt Paper,paperbd Pds,nec | 890.31M | -27.99M | -0.2829 | -7.42 | 198.84M |
Finance lease liabilities
Finance lease liabilities are payable as follows:
Minimum Minimum lease lease payments Interest Principal payments Interest Principal 2014 2014 2014 2013 2013 2013 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 --------------------- -------- -------- --------- -------- -------- --------- Less than one year 795 (193) 602 314 (77) 237 Between one and five years 3,538 (400) 3,138 1,717 (177) 1,540 More than five years 968 (19) 949 - - - --------------------- -------- -------- --------- -------- -------- --------- 5,301 (612) 4,689 2,031 (254) 1,777 --------------------- -------- -------- --------- -------- -------- ---------
During the year two new finance leases were entered into for GBP3,239,000 to fund new printing machines in the Group's facilities in Wales. The interest rate on these leases is 3.88%.
21 Trade and other payables
2014 2013 GBP000 GBP000 -------------------------------------- ------ ------ Trade payables 25,031 28,291 Other payables including income taxes and social security 787 704 -------------------------------------- ------ ------ 25,818 28,995 -------------------------------------- ------ ------
22 Share capital
Authorised share capital at 31 March 2014 and 2013 was GBP6,047,443 divided into 120,948,860 ordinary shares of 5p each.
Ordinary shares ----------------- In thousands of shares 2014 2013 ---------------------------------- -------- ------- In issue at 1 April 56,768 55,007 Options exercised during the year 1,158 1,761 ---------------------------------- -------- ------- In issue at 31 March - fully paid 57,926 56,768 ---------------------------------- -------- ------- 2014 2013 GBP000 GBP000 --------------------------------- ------- ------- Allotted, called up and fully paid Ordinary shares of GBP0.05 each 2,896 2,838 --------------------------------- ------- -------
Share options exercised during the year amounted to 1,158,000 (2013: 1,761,000) which generated cash proceeds of GBP176,000 (2013: GBP266,000).
The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company.
23 Earnings per share
2014 2013 --------------- --------------- Diluted Basic Diluted Basic ------------------------------- ------- ------ ------- ------ Adjusted earnings per share excluding exceptional items and LTIP charges 8.4p 8.6p 7.8p 7.8p Loss per share on LTIP charges (0.1p) (0.1p) - - ------------------------------- ------- ------ ------- ------ Adjusted earnings per share excluding exceptional items 8.3p 8.5p 7.8p 8.1p Loss per share on exceptional items (3.2p) (3.3p) (2.0p) (2.1p) ------------------------------- ------- ------ ------- ------ Earnings per share 5.1p 5.2p 5.8p 6.0p ------------------------------- ------- ------ ------- ------
The basic earnings per share is based on the profit attributable to equity holders of the Company of GBP3,010,000 (2013: GBP3,401,000) and the weighted average number of ordinary shares in issue of 57,519,000 (2013: 56,245,000) calculated as follows:
Weighted average number of shares in thousands of shares 2014 2013 --------------------------------------- ------ ------- Issued ordinary shares at 1 April 56,768 55,007 Shares issued in respect of exercising of share options 751 1,238 --------------------------------------- ------ ------- Weighted average number of shares at 31 March 57,519 56,245 --------------------------------------- ------ -------
Adjusted basic earnings per share excludes exceptional items charged of GBP2,298,000 (2013: GBP1,376,000) and the tax relief attributable to those items of GBP381,000 (2013: GBP221,000), to give adjusted profit of GBP4,927,000 (2013: GBP4,556,000).
Diluted earnings per share
The average number of share options outstanding in the year is 2,281,351 (2013: 3,664,232), at an average exercise price of 19.6p (2013: 19.6p). The diluted earnings per share is calculated assuming all these options were exercised. At 31 March the diluted number of shares was 59,098,460 (2013: 58,794,617).
24 Dividends
No dividends were paid in the year (2013: nil). The Directors do not propose a final dividend for 2014.
25 Share-based payments
Options
Options to subscribe for ordinary shares have been granted, pursuant to the Company's approved and unapproved Employee Share Option Schemes, which are exercisable at dates ranging up to January 2021. At 31 March 2014, outstanding options were as follows:
Number of Exercise Exercise ordinary shares price (p) dates ------------ --------------- --------- ------------------------------- Approved: 1,667,140 14 December 2011 - December 2018 38,000 31.25 July 2012 - July 2019 12,000 50 September 2012 - September 2019 48,387 62 January 2014 - January 2021 Unapproved: 107,145 14 December 2011 - December 2018 1,613 62 January 2014 - January 2021 ------------ --------------- --------- ------------------------------- 1,874,285 ------------ --------------- --------- -------------------------------
All share-based payments are equity-settled.
There were no performance or profitability conditions attached to the approved options (other than continued employment), except for 48,387 shares issued at 62p, which relate to specific performance targets related to sales of new product areas in the US. Conditions related to profitability for the two years to March 2011 are attached to the unapproved options awarded to Executive Directors and these conditions have now been fully met.
For the share options outstanding at 31 March 2014, the weighted average remaining contract life was 4.7 years (2013: 5.8 years).
The numbers and weighted average exercise prices of share options are as follows:
2014 2013 Weighted Weighted average Number of average Number of exercise Exercise price options price options ----------------------------- -------- ----------- -------- ----------- Outstanding at the beginning of the period 17p 3,141,956 18p 5,002,556 Approved options granted during the period 0p - 0p - Unapproved options granted in the period 0p - 0p - Lapsed during the year 58p (110,000) 0p (100,000) Exercised during the period 15p (1,157,671) 15p (1,760,600) ----------------------------- -------- ----------- -------- ----------- Outstanding at the end of the period 16p 1,874,285 17p 3,141,956 ----------------------------- -------- ----------- -------- ----------- Exercisable at the end of the period 16p 1,874,285 14p 2,991,956 ----------------------------- -------- ----------- -------- -----------
The weighted average share price at the date of exercise of share options exercised during the period was 47.4p (2013: 54.9p).
No share options were granted during the year or the previous year.
Long Term incentive Plan (LTIP)
During the year the Group introduced a new Long Term Incentive Plan.
The Company will issue up to 1,400,000 ordinary shares under the LTIP to Anthony Lawrinson, a Director of the Company. The ordinary shares are being issued as part of Anthony Lawrinson's remuneration package agreed at the time of his appointment to the Board in October 2011. Vesting is conditional upon and proportionate to the cumulative average growth (CAGR) in fully diluted earnings per share before exceptional items over a defined period from 1 April 2012 to 31 March 2015 with CAGR of 20% required for the whole amount to vest. The cost to Anthony Lawrinson of the ordinary shares to be issued under the LTIP if the performance criterion is met, will be nil. Anthony Lawrinson has no other options over ordinary shares.
The fair value of the LTIP granted during the year was based on the share price on the date the scheme was approved and the expected number of shares to vest.
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