Director/PDMR Shareholding

RNS Number : 4600O

IG Group Holdings plc

06 August 2014

 



IG Group Holdings plc
6 August 2014

NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND OTHER PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs")

IG Group Holdings Plc (the "Company"), a global leader in online trading, gives notice of the following transactions carried out in respect of the Company's ordinary shares of 0.005p each (the "Ordinary Shares") by the Executive Directors (each a "Director" and together "the Directors") and other PDMRs (together "PDMRs"). This notice is being issued in accordance with DTR 3.1.4R(1).

1.    Exercise of options under the Long Term Bonus Plan

As disclosed in RNS Number 2037J on 2 August 2012 and RNS Number 5150K on 30 July 2013, the Directors were awarded a number of nil cost options under the Company's Long Term Bonus Plan representing a deferred element of their FY12 and FY13 cash bonus, respectively.

On 5 August 2014, the Company received exercise notices from the Directors exercising their nil‑cost options under the FY13 cash bonus, and from Tim Howkins exercising his nil‑cost options under the FY12 cash bonus. As in previous years, the Company has elected to cash settle all options, subject to tax and National Insurance and according to a formula set down in the Plan. Therefore, the exercise of these options does not result in a change to the Directors' overall interest in the Company's Ordinary Shares.

Following the exercise by the Directors, there are no options (either vested or unvested) remaining in the Company's Long Term Bonus Plan.

Full details of the exercises are as follows:

Director	Date and place of transaction	Nature of transaction
Tim Howkins	5/08/2014 London	Exercise of nil-cost options over 147,938 shares (arising from deferred FY12 and FY13 bonus) via cash settlement in accordance with the Company's Long Term Bonus Plan
Peter Hetherington	5/08/2014 London	Exercise of nil-cost options over 25,340 shares (arising from deferred FY13 bonus) via cash settlement in accordance with the Company's Long Term Bonus Plan
Christopher Hill	5/08/2014 London	Exercise of nil-cost options over 22,783 shares (arising from deferred FY13 bonus) via cash settlement in accordance with the Company's Long Term Bonus Plan

2.    Value Sharing Scheme: Exercise of nil-cost options

As disclosed in RNS 7624K, on 20 July 2011 the Company granted a number of options to the Directors and PDMRs under the Company's Value Sharing Plan. The performance period for the awards was 1 June 2011 to 31 May 2014. The awards vest in two tranches, 50% on 22 July 2014 and 50%, 12 months later. On 5 August 2014, the Company received exercise notices from the Directors and PDMRs exercising their nil‑cost options vesting on 22 July 2014.

In addition, on 5 August 2014, the Company received an exercise notice from Tim Howkins exercising options resulting from an award made to him under the Value Sharing Plan on 29 October 2010 (as disclosed in RNS 4155V). These options vested 22 October 2013.

Full details of the options exercised are set out in the table below:

Director/PDMR	Date and place of transaction	Nature of transaction	Price per share
Tim Howkins	5/08/14 London	Exercise of nil-cost options to acquire 17,057 Ordinary Shares under Company's Value Sharing Plan, following the award made in 2010, vesting in 2013. Exercise of nil-cost options to acquire 14,298 Ordinary Shares under the Company's Value Sharing Plan, following the award made in 2011, vesting in 2014.	Nil
Christopher Hill	5/08/14 London	Exercise of nil-cost options to acquire 8,579 Ordinary Shares under the Company's Value Sharing Plan, following the award made in 2011, vesting in 2014.	Nil
Peter Hetherington	5/08/14 London	Exercise of nil-cost options to acquire 8,579 Ordinary Shares under the Company's Value Sharing Plan, following the award made in 2011, vesting in 2014.	Nil
Jon Noble (PDMR - CIO)	5/08/14 London	Exercise of nil-cost options to acquire 4,114 Ordinary Shares under the Company's Value Sharing Plan, following the award made in 2011, vesting in 2014.	Nil
Bridget Messer (PDMR - Head of Legal & Compliance and Company Secretary)	5/08/14 London	Exercise of nil-cost options to acquire 2,743 Ordinary Shares under the Company's Value Sharing Plan, following the award made in 2011, vesting in 2014.	Nil

3.    Sustained Performance Plan: Award and exercise of options

On 5 August 2014, following a shareholders' resolution at the Company's AGM on 17 October 2013 approving the Sustained Performance Plan ("SPP"), the Company made awards of par-cost options to acquire Ordinary Shares to the Directors and PDMRs relating to the performance period 1 June 2013 to 31 May 2014. The share price used to determine the number of options awarded is 609.9 pence, which is based on the average of the closing prices of the previous 10 days as is required by the rules of the SPP. Details of the performance criteria used will be disclosed in the Company's FY14 Annual Report, due to be published on www.iggroup.com on 16 September 2014.

In accordance with the rules of the SPP, 40% of the options awarded to the Directors under Year 1 of the SPP vest immediately upon grant. Vested but unexercised awards do not accrue dividend equivalent entitlements. On 5 August 2014, the Company received exercise notices from the Directors exercising all vested options under the SPP.

Full details of awards and exercises are set out below:

Director/PDMR	Date and place of transaction	Nature of transaction	Price per share
Tim Howkins	5/08/14 London	Award of par-cost options to acquire 204,290 Ordinary Shares.	Nil
		Exercise of 81,716 par-cost options to acquire 81,716 Ordinary Shares.	0.005 pence
Christopher Hill	5/08/14 London	Award of par-cost options to acquire 142,980 Ordinary Shares.	Nil
		Exercise of 57,192 par-cost options to acquire 57,192 Ordinary Shares.	0.005 pence
Peter Hetherington	5/08/14 London	Award of par-cost options to acquire 153,273 Ordinary Shares.	Nil
		Exercise of 61,309 par-cost options to acquire 61,309 Ordinary Shares.	0.005 pence
Jon Noble (PDMR - CIO)	5/08/14 London	Award of par-cost options to acquire 55,694  Ordinary Shares.	Nil
Bridget Messer (PDMR - Head of Legal & Compliance and  Company Secretary)	5/08/14 London	Award of par-cost options to acquire 38,094 Ordinary Shares.	Nil

4.    Shares sales

On 5 August 2014, the Company received notice of the following share sales made by the Directors and PDMRs:

Director/PDMR	Date and place of transaction	Nature of transaction	Price per share
Tim Howkins	5/08/14 London	Sale of 113,071 Ordinary Shares	615.13 pence
Christopher Hill	5/08/14 London	Sale of 57,271 Ordinary Shares	616.50 pence
Peter Hetherington	5/08/14 London	Sale of 59,888 Ordinary Shares	615.26 pence
Jon Noble (PDMR - CIO)	5/08/14 London	Sale of 4,114 Ordinary Shares	614 pence
Bridget Messer (PDMR - Head of Legal & Compliance and Company Secretary)	5/08/14 London	Sale of 2,743 Ordinary Shares	614 pence

5.    Transfer of shares to connected person

On 6 August 2014, the Company received notice that Christopher Hill transferred 8,500 Ordinary Shares to his spouse and connected person, Vanessa Hill, for nil consideration.

6.    Shareholdings following transactions

The below table sets out the Directors' shareholdings following all transactions disclosed in this RNS. (Please note, the exercise of options disclosed in section 1 of this RNS does not result in a change to the Directors' overall interest in the Company's Ordinary Shares because the options are cash settled in accordance with the rules of the Company's Long Term Bonus Plan.)

Director and Connected Persons	Shareholding prior to transactions	Shareholding following transactions
Tim Howkins	1,621,183	1,621,183
Christopher Hill	35,428	43,928
Peter Hetherington	114,267	124,267

For further information, please contact:

IG Group

Kieran McKinney

Head of Investor Relations          020 7573 0026

FTI

Neil Doyle / Ed Berry     020 3727 1141 / 1046

IG is a global leader in online trading, providing fast and flexible access to over 10,000 financial markets - including shares, indices, forex, commodities and binaries.

Established in 1974 as the world's first financial spread betting firm, IG's aim is to become the default choice for active traders globally. It is already an award-winning multi-platform trading company, the world's No.1 provider of CFDs* and a global leader in forex, and will be launching its new execution-only stockbroking service in late 2014.

It is a member of the FTSE 250, with offices across Europe, Africa, Asia-Pacific and the US, where it offers limited risk derivatives contracts via the Nadex brand.

*Based on revenue excluding FX, published financial statements, August 2013.

 

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