IG DESIGN GROUP PLC — Remuneration Information 2022

Jun 28, 2022

National Storage Mechanism | Additional information

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 Stewart Gilliland, Interim Executive Chairman Lance Burn, Interim Chief Operating Officer Paul Bal, Chief Financial Officer	Tel: +44 (0)1525 887310
Canaccord Genuity Limited (NOMAD and Broker) Bobbie Hilliam - NOMAD Alex Aylen - Sales	Tel: +44 (0)20 7523 8000
Alma PR  Susie Hudson Sam Modlin	Tel: +44 (0)20 3405 0205

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 notification /Amendment

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 of the financial instrument, type of instrument

Identification code

Ordinary shares of 5 pence each

ISIN: GB0004526900

b)

Nature of the transaction

Cancellation of grant of awards under the IG Design Value Creation Scheme

c)

Price(s) and volume(s)

Price	No. of shares
Nil-cost	Such number of Shares as equals 12.5% of the VCS Pool

d)

Aggregated information

- Aggregated  volume

- Price

N/a

e)

Date of the transaction

28 June 2022

f)

Place of the transaction

Outside a trading venue

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 notification /Amendment

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 of the financial instrument, type of instrument

Identification code

Ordinary shares of 5 pence each

ISIN: GB0004526900

b)

Nature of the transaction

Cancellation of grant of awards under the IG Design Value Creation Scheme

c)

Price(s) and volume(s)

Price	No. of shares
Nil-cost	Such number of Shares as equals 7.5% of the VCS Pool

d)

Aggregated information

- Aggregated  volume

- Price

N/a

e)

Date of the transaction

28 June 2022

f)

Place of the transaction

Outside a trading venue

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