IG Design Group PLC Cancellation of Value Creation Scheme ("VCS") (3729Q)
28 Juin 2022 - 10:00AM
UK Regulatory
TIDMIGR
RNS Number : 3729Q
IG Design Group PLC
28 June 2022
28 June 2022
IG Design Group plc
('Design Group' or the 'Company')
Cancellation of Value Creation Scheme ("VCS")
IG Design Group plc announces the cancellation of the VCS which
was granted in early 2021. Following a review of the scheme, the
Remuneration Committee of the Company believe the grants made under
the VCS no longer align the interests of employees and
shareholders.
Under the VCS rules, any material changes to the VCS requires
the consent of participants holding awards which together represent
more than 50 per cent. of all outstanding award values. Following
consultation with participants, this minimum requirement has been
achieved allowing the cancellation of the VCS to occur.
The VCS awards were intended to allow participants to share, in
total, in up to 12.5 per cent. of the value created for
shareholders over a 3 year period (the "VCS Pool"). The cancelled
PDMR awards, expressed as a percentage of the VCS Pool, are set out
below:
Giles Willits 12.5%
Lance Burn 7.5%
The Remuneration Committee will look to put in place a more
appropriate incentive scheme moving forward. The Company will
inform the market of the new scheme at the relevant time.
IG Design Group plc Tel: +44 (0)1525 887310
Stewart Gilliland, Interim Executive
Chairman
Lance Burn, Interim Chief Operating
Officer
Paul Bal, Chief Financial Officer
Canaccord Genuity Limited (NOMAD and Tel: +44 (0)20 7523 8000
Broker)
Bobbie Hilliam - NOMAD
Alex Aylen - Sales
Alma PR Tel: +44 (0)20 3405 0205
Susie Hudson
Sam Modlin
For further information, please contact:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Giles Willits
------------------ -----------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Executive Director
------------------ -----------------------------------------------
b) Initial Amendment
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 213800J8I5XDZ3JU8496
------------------ -----------------------------------------------
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 Ordinary shares of 5 pence each
of the financial ISIN: GB0004526900
instrument,
type of
instrument
Identification
code
------------------ -----------------------------------------------
b) Nature of Cancellation of grant of awards under the
the transaction IG Design Value Creation Scheme
------------------ -----------------------------------------------
c) Price(s) Price No. of shares
and volume(s) Nil-cost Such number
of Shares
as equals
12.5% of the
VCS Pool
-------------------
------------------ -----------------------------------------------
d) Aggregated
information N/a
- Aggregated
volume
- Price
------------------ -----------------------------------------------
e) Date of 28 June 2022
the transaction
------------------ -----------------------------------------------
f) Place of Outside a trading venue
the transaction
------------------ -----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Lance Burn
------------------ -----------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Executive Director
------------------ -----------------------------------------------
b) Initial Amendment
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 213800J8I5XDZ3JU8496
------------------ -----------------------------------------------
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 Ordinary shares of 5 pence each
of the financial ISIN: GB0004526900
instrument,
type of
instrument
Identification
code
------------------ -----------------------------------------------
b) Nature of Cancellation of grant of awards under the
the transaction IG Design Value Creation Scheme
------------------ -----------------------------------------------
c) Price(s) Price No. of shares
and volume(s) Nil-cost Such number
of Shares
as equals
7.5% of the
VCS Pool
-------------------
------------------ -----------------------------------------------
d) Aggregated
information N/a
- Aggregated
volume
- Price
------------------ -----------------------------------------------
e) Date of 28 June 2022
the transaction
------------------ -----------------------------------------------
f) Place of Outside a trading venue
the transaction
------------------ -----------------------------------------------
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END
MSCFLFIARRIDFIF
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June 28, 2022 04:00 ET (08:00 GMT)
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