Last checked at 29 Sep 2022 07:00
29 September 2022
IG Design Group Plc('Design Group' or the 'Company')
Intended Purchase of Shares by Employee Benefit Trust
The Company announces that APEX Financial Services (Trust Company) Limited, the trustee of the IG Design Group Plc Employee Benefit Trust (the "EBT"), has indicated its intention to make market purchases in ordinary shares of the Company for the benefit of the EBT up to a value of £0.94 million, to help meet future obligations arising under the Company's long-term incentive plan (the "Market Purchases").
The Market Purchases are subject to the EBT's discretion as to the purchase price, in consultation with Canaccord Genuity, the Company's broker, to be paid up to a pre-agreed maximum price per ordinary share in the Company.
It is expected that the Market Purchases will be funded by amounts advanced by the Company by way of loan, such funding having been provided for within recent public announcements as to the Company's outlook.
Further announcements will be made on completion of the Market Purchases.
For further information, please contact:
IG Design Group Plc Stewart Gilliland, Interim Executive Chair Paul Bal, CFO | Tel: +44 (0)1525 887310
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Canaccord Genuity Limited (Nomad and Broker) Bobbie Hilliam Alex Aylen - Sales | Tel: +44 (0)20 7523 8000
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Alma PR Sam Modlin Josh RoystonPippa Crabtree | Tel: +44 (0)20 3405 0209 designgroup@almapr.co.uk |