IAP.L Regulatory News (IAP)

20 May 2009 18:28



ICAP plc Announcement

1. ICAP plc has received the following statement from IPGL Limited (IPGL).

"On 19 May 2009 IPGL's subsidiary company INCAP Finance B.V. sold 12,700,000 of the 130,769,560 ICAP plc ordinary shares it owns at a price of £3.90 per share. IPGL has been very successful in reducing the leverage on its balance sheet during the past year. The proceeds from the sale of these ICAP plc shares will be used as part of the further deleveraging of the IPGL business. IPGL does not plan to sell any further ICAP plc shares in the foreseeable future."

Michael Spencer, the founder and chief executive of ICAP plc, together with his wife and family trusts, are majority shareholders of IPGL Limited.

2. On 19 May 2009, Michael Spencer exercised 5,608,248 options under the ICAP 2003 Bonus Share Matching Plan. These options were awarded to Michael Spencer on 16 July 2003, 4 June 2004, 10 June 2005 and 22 June 2006 at a total exercise price of £8.00.

In order to meet the tax liability which is incurred immediately on the exercise of those options, Michael Spencer sold on the London Stock Exchange on 19 May 2009 a total of 2,300,000 shares at a price of £3.90 per share.

Following these transactions, Michael Spencer had a personal interest in 5,533,235 ICAP plc ordinary shares and through IPGL he had a further interest in 118,069,560 ordinary shares. Together these represent 19.0% of ICAP plc's share capital.

Contacts:

About ICAP

ICAP is the world's premier interdealer broker and provider of post trade services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, equities and equity derivatives through voice and electronic networks. ICAP has an average daily transaction volume in excess of $2.3 trillion, more than 40% of which is electronic. ICAP is also the source of global market information and research for professionals in the international financial markets. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com

About IPGL

IPGL Limited is a private holding company which focuses on partnering with experienced management teams to build fast growing businesses in financial services and other sectors where we can use the group's deep sector expertise and entrepreneurial skills of the investment team to increase the probability of success and accelerate each company's growth. Our interest is in developing young businesses into industry leaders over the long term. The value we create is then invested into new opportunities. Over the past 20 years the group has had considerable success in building broking, retail CFD, fund management, insurance and gaming companies.

At the moment, the group has large minority or majority holdings in over 15 public and private trading companies ICAP plc, the FTSE 100 listed interdealer broker and a majority holding of City Index, a leading provider of CFD and spread betting services. In addition to the principal activity of being a long term investor in businesses, the group is a successful trader in alternative assets such as wine, art and property. More information can be found at: www.ipgl.co.uk