Last checked at 16 Apr 2018 17:45
FOR RELEASE ON | 16 April 2018 |
IP Group plc - Issue of equity and awards under DBSP
IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), the developer of intellectual property-based businesses, announces the following in connection with its employee share schemes.
Deferred Bonus Share Plan ("DBSP")
The Group has issued 241,145 new ordinary shares of 2p each ("Shares") following the exercise of nil-cost DBSP options by certain employees on 12 April 2018. One of the Group's persons discharging managerial responsibilities ("PDMRs"), Mark Reilly, has exercised his options and sold sufficient shares to meet his tax liabilities and has retained the balance.
An application has been made to the Financial Conduct Authority for admission of the New Shares to the premium listing segment of the Official List maintained by the UK Listing Authority and to the London Stock Exchange. It is expected that admission will take place on 20 April 2018.
The Group also announces that on 12 April 2018, awards over Ordinary Shares were made to certain Executive Directors, PDMRs and certain other employees under the Company's DBSP. The awards reflect the deferral of fifty per cent. of each person's award above £25,000 under the Group's Annual Incentive Scheme ("AIS") in respect of the Company's performance for the financial year ended 31 December 2017. The following table sets out details of the awards made to the Executive Directors and PDMRs:
Name of Director/PDMR | Structure of award | Number of Shares awarded under the DBSP | Total number of Shares held under the DBSP |
Alan Aubrey | Nil-Cost Option | 79,641 | 122,351 |
David Baynes | Nil-Cost Option | 49,472 | 75,453 |
Mike Townend | Nil-Cost Option | 49,472 | 75,453 |
Greg Smith | Nil-Cost Option | 49,472 | 72,109 |
Sam Williams | Nil-Cost Option | 31,280 | 54,504 |
Mark Reilly | Nil-Cost Option | 7,011 | 7,011 |
In addition to the above, awards over a total of 88,453 shares were made to certain other of the Group's employees.
No consideration was paid for the grant of the awards and no consideration is due on the maturity of the awards. Fifty per cent. of the awards will normally be exercisable on the first anniversary of the date of grant and fifty per cent. on the second anniversary of the date of grant, each generally subject to continued employment. The awards shall be exercisable for a maximum of three years from the date of grant.
Shares in issue
Following admission of the new Shares, the Company will have 1,059,144,595 ordinary shares in issue. The following information is being disclosed pursuant to the requirements of MAR.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||||||||||
a) | Name | Alan AubreyMike TownendGreg SmithDavid BaynesSam WilliamsMark Reilly | |||||||||||||||||||||
2 | Reason for the notification | ||||||||||||||||||||||
a) | Position/status | Director Chief Executive OfficerDirector Chief Investment OfficerDirector Chief Financial OfficerDirector Chief Operating OfficerPDMR Managing Partner, Life SciencesPDMR Managing Partner, Technology | |||||||||||||||||||||
b) | Initial notification /Amendment | Initial Notification | |||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||||||||
a) | Name | IP Group plc | |||||||||||||||||||||
b) | Legal Entity Identifier | 213800HG22UM138WFG43 | |||||||||||||||||||||
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 2p each in IP Group plc
ISIN: GB00B128J450 | |||||||||||||||||||||
b) | Nature of the transaction | Grant of Options under the IP Group plc DBSP | |||||||||||||||||||||
c) | Currency | GBP | |||||||||||||||||||||
d) | Price(s) and volume(s) |
| |||||||||||||||||||||
e) | Aggregated information -Aggregated volume - Price - Aggregated total |
Aggregated Number of Shares Granted Under the DBSP to Directors and PDMRs on 12 April 2018: 266,348 Price: £ nil | |||||||||||||||||||||
f) | Date of the transaction |
| |||||||||||||||||||||
g) | Place of the transaction | London Stock Exchange, Main Market | |||||||||||||||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Mark Reilly | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR Managing Partner, Technology | ||||||
b) | Initial notification /Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | IP Group plc | ||||||
b) | Legal Entity Identifier | 213800HG22UM138WFG43 | ||||||
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 2p each in IP Group plc ISIN: GB00B128J450 | ||||||
b) | Nature of the transaction | Exercise of options in connection with the 2016 DBSP Awards | ||||||
c) | Currency | GBP | ||||||
d) | Price(s) and volume(s)
|
| ||||||
e) | Aggregated information -Aggregated volume - Price - Aggregated total |
8,862 shares 127p £11,254.74 | ||||||
f) | Date of the transaction | 12 April 2018 | ||||||
g) | Place of the transaction | London Stock Exchange, Main Market | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Mark Reilly | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR Managing Partner, Technology | ||||||
b) | Initial notification /Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | IP Group plc | ||||||
b) | Legal Entity Identifier | 213800HG22UM138WFG43 | ||||||
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 2p each in IP Group plc ISIN: GB00B128J450 | ||||||
b) | Nature of the transaction | Sale | ||||||
c) | Currency | GBP | ||||||
d) | Price(s) and volume(s)
|
| ||||||
e) | Aggregated information -Aggregated volume - Price - Aggregated total |
4,184 shares 127p £5,313.68 | ||||||
f) | Date of the transaction | 12 April 2018 | ||||||
g) | Place of the transaction | London Stock Exchange, Main Market | ||||||
For more information, please contact:
IP Group plc | www.ipgroupplc.com |
Alan Aubrey, Chief Executive OfficerGreg Smith, Chief Financial OfficerLiz Vaughan-Adams, Communications | +44 (0) 20 7444 0050+44 (0) 20 7444 0062/+44 (0) 7979 853802 |
Charlotte Street Partners |
|
Andrew Wilson | +44 (0) 7810 636995 |
Martha Walsh | +44 (0) 7876 245962 |
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.
For more information, please visit our website at www.ipgroupplc.com.
ENDS