Director/PDMR Shareholding

RNS Number : 5262Y
IP Group PLC
17 May 2016
 

FOR RELEASE ON

17 May 2016

 

IP Group plc - Director / PDMR Shareholding

 

IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the Group"), the developer of intellectual property based businesses, announces that it has made conditional awards of 3,188,078 ordinary shares of two pence each ("Shares") to its executive directors, other persons discharging managerial responsibilities ("PDMRs") and certain other employees under its Long Term Incentive Plan (the "LTIP").

 

Conditional awards have been made to the Group's Executive Directors and other PDMRs as follows:

 

Executive Director/PDMR

Maximum number of Shares conditionally awarded in respect of 2016 LTIP

Maximum number of conditionally awarded Shares outstanding at the date of this announcement

Alan Aubrey

664,313

936,106

Mike Townend

327,342

544,777

Greg Smith

306,803

490,522

David Baynes

327,342

990,777*

Angela Leach

116,688

280,485

* includes 446,000 Shares conditionally awarded under the former Fusion IP plc LTIP scheme

The number of Ordinary Shares stated is the maximum number that could be issued to each Executive Director or PDMR upon full satisfaction of the performance conditions attaching to the awards.

In addition to the above, awards over a total of 1,445,590 Shares were made to certain other of the Group's employees in connection with the 2016 LTIPs.

The performance measures attaching to the 2016 awards are based on the achievement of targets linked to growth in the Company's "hard" net assets and total shareholder return as described in the Directors' Remuneration Report of the 2015 Annual Report and Accounts. The Group's updated Directors' Remuneration Policy and 2015 Directors' Remuneration Report were both recently approved by 99.95% of the Company's shareholders at its Annual General Meeting held on 12 May 2016.

Assuming satisfaction of the conditions in full, the awards will ordinarily vest on or after 31 March 2019 and the Shares will be issued as soon as practicable after these dates. Any such Shares would be subject to a minimum two-year post-vesting holding period.

As at the date of this announcement, a total of 7,097,131 Shares conditionally awarded to executive directors, PDMRs and employees of IP Group remain outstanding and subject to performance conditions.

 

For more information, please contact:

 

IP Group plc

www.ipgroupplc.com

Alan Aubrey, Chief Executive Officer
Greg Smith, Chief Financial Officer
Liz Vaughan-Adams, Communications           

+44 (0) 20 7444 0050

+44 (0) 20 7444 0062/+44 (0) 7979 853802

Charlotte Street Partners

 

Andrew Wilson

Tamsin Garrity

+44 (0) 7810 636995

+44 (0) 7713 399996

 

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 (from its balance sheet and also through its 100%-owned FCA-authorised subsidiary, IP Capital), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in approximately 100 early-stage to mature businesses across four main sectors -- Biotech, Cleantech, Healthcare and Technology. The Company 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


This information is provided by RNS
The company news service from the London Stock Exchange
 
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