2 Aug 2019 09:00
Intermediate Capital Group plc : Grant of Share Awards
Intermediate Capital Group plc (the “Company”)
2 August 2019
Notification of Transactions of Directors
GRANT OF SHARE AWARDS
The Company announces that on 1 August 2019 PLC Equity Awards under the Intermediate Capital Group Omnibus Plan were granted to Vijay Bharadia, an Executive Director. As detailed in the 2019 Annual Report of the Company, the awards were made to replace and materially replicate awards Mr Bharadia forfeited on leaving his previous employer.
The awards made were over the following number of ordinary shares in the Company:
| Date on which forfeited awards were due to vest | Number of ICG Shares under replacement award | Vesting date for award |
| 1 July 2019 | 9,721* | 1 August 2019 |
| 1 January 2020 | 14,318 | 1 January 2020 |
| 1 July 2020 | 5,516* | 1 July 2020 |
| 1 January 2021 | 8,950 | 1 January 2021 |
| 1 July 2021 | 10,788* | 1 July 2021 |
| 1 January 2022 | 4,988 | 1 January 2022 |
| 1 July 2022 | 7,572* | 1 July 2022 |
| 1 July 2023 | 4,776* | 1 July 2023 |
*Awards which are subject to retention requirement whereby 25% of shares awarded (on a net of tax basis) are required to be held by the director after the vesting date until the earlier of (i) the tenth anniversary of the relevant vesting date and (ii) the date on which the restrictive covenants in his employment contract expire.
In all cases, the awards are over Ordinary Shares in the Company of 26 1/4p each and no payment was required for the grant of the awards. The awards will benefit from the accrual of dividend equivalents in line with ICG’s standard policy in order to ensure alignment with shareholders.
Details of the full notifications received by the Company are set out below.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Vijay V. Bharadia | |
| 2 | Reason for Notification | ||
| a) | Position/status | Executive Director | |
| b) | Initial notification/Amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Intermediate Capital Group plc | |
| b) | LEI | 549300OGASR5WRKJ8R68 | |
| 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 | Ordinary shares of 26 ¼ pence each in Intermediate Capital Group plc | |
| Identification code | GB00BYT1DJ19 | ||
| b) | Nature of the transaction | Grant of PLC Equity Awards (conditional share awards) under and subject to the terms of the Intermediate Capital Group Omnibus Plan | |
| c) | Price(s) and volume(s)(8 different awards) | Price(s) | Volume(s) |
| GBP 00.00 | 9,721 | ||
| GBP 00.00 | 14,318 | ||
| GBP 00.00 | 5,516 | ||
| GBP 00.00 | 8,950 | ||
| GBP 00.00 | 10,788 | ||
| GBP 00.00 | 4,988 | ||
| GBP 00.00 | 7,572 | ||
| GBP 00.00 | 4,776 | ||
| d) | Aggregated information Aggregated volumePrice | Not applicable – single transaction | |
| e) | Date of the transaction | 1 August 2019 | |
| f) | Place of the transaction | Outside a trading venue | |
Contacts:
Ian StanlakeInvestor Relations, Intermediate Capital Group plcD: +44 (0) 20 3201 7880ian.stanlake@icgam.com
Alicia WyllieCorporate Communications, Intermediate Capital Group plcD: +44 (0) 20 3201 7994M: +44 (0) 7808 610 080Alicia.wyllie@icgam.com
Andy LewisCompany Secretary, Intermediate Capital Group plcD: +44 (0) 20 3201 7754andrew.lewis@icgam.com