RSP awards and Scrip Elections

RNS Number : 9129Q
IP Group PLC
30 June 2022
 

FOR RELEASE ON

30 June 2022

 

IP Group plc - RSP awards and Scrip Elections; Director/PDMR shareholding

 

IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), which develops world-changing science and technology businesses across life sciences, technology and cleantech, announces that, further to the announcements dated 06 June 2022 and 29 June 2022 in connection with the Scrip Dividend, a combined total of 5,413 ordinary shares of two pence each ("Shares") in aggregate have been allotted to five of the Group's persons discharging managerial responsibilities ("PDMRs"), following their respective elections to take up the Scrip Dividend in relation to some or all of their current shareholdings, as further detailed below :

 

PDMR

No. of Shares

Greg Smith

1,577

Angela Leach

2,270

Lisa Patel

88

Christopher Glasson

92

Douglas Moray Wright

1,386

 

 

Restricted Share Plan Awards

 

Further, IP Group announces the following in connection with its employee share schemes.

 

Following approval of the Group's Directors' 2021 Remuneration Report ("2021 DRR"), the Directors' Remuneration Policy and the rules of its Restricted Share Plan ("RSP") at its 2022 AGM, the Group has made awards under its RSP ("Awards") of 3,532,744 Shares to its executive directors, other PDMRs and certain other employees on 28 June 2022.

 

Vesting of these Awards will take place over a three-year period commencing on 1 April 2022 (the "Vesting Period").  The vesting of the Awards will be subject to review by the Group's Remuneration Committee at the end of the Vesting Period of performance as against both a financial underpin based on adjusted NAV growth over the period of three financial years ending on 31 December 2024 and other qualitative performance measures (together the "Underpin Criteria"), as further described in the 2021 DRR.

 

Awards made to the executive directors and other PDMRs are set out in the table below, and Awards over a further 1,223,434 Shares have been made to other of the Group's employees. The number of Shares stated is the maximum number that could vest at the end of the Vesting Period for each executive director or PDMR.  If the Committee considers that any of the Underpin Criteria is not met as part of its review at the end of the Vesting Period, it will then consider whether it was appropriate to scale back the number of shares that vest (including to nil).

 

The number of Awards made was calculated using the closing price on 27 June 2022 of 75.5p.

 

Subject to the Remuneration Committee's review of performance against the Underpin Criteria, the Awards will ordinarily vest on or around 31 March 2025. Any Awards which vest will ordinarily be subject to a post-vesting holding period of two years. Shares will be issued in connection with any vested Awards at the end of this holding period.

 

 

Executive Director/PDMR

Maximum number of Shares
conditionally awarded in respect
of 2022 RSP

Greg Smith

1,043,046

David Baynes

476,809

Mark Reilly

144,039

Anthony York

136,430

Sam Williams

123,178

Christopher Glasson

104,304

Angela Leach

99,337

Elizabeth Vaughan-Adams

74,503

Douglas Moray Wright

53,642

Dan Xie

35,665

Lisa Patel

18,357

Total

2,309,310

 

 

Shares in issue

The Group currently has 1,063,033,287 Shares in issue and 28,607,622 Shares held in Treasury.

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.

 

RSP Awards

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Greg Smith

David Baynes

Mark Reilly

Anthony York

Sam Williams

Christopher Glasson

Angela Leach

Elizabeth Vaughan-Adams

Douglas Moray Wright

Dan Xie

Lisa Patel

2

Reason for the notification

a)

Position/status

Executive Director - CEO

Executive Director - CFOO

PDMR - Managing Partner

PDMR - Group People Director

PDMR - Managing Partner

PDMR - Finance Director

PDMR - Group General Counsel

PDMR - Head of Communications

PDMR - CEO ParkWalk

PDMR - Managing Director - Greater China

PDMR - Partner, Life Sciences

 


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

Conditional award of Shares under the IP Group plc RSP

c)

Currency

GBP

d)

Price(s) and volume(s)

Name(s)

Price(s)

Volume(s)

Greg Smith

Nil

1,043,046

David Baynes

Nil

476,809

Mark Reilly

Nil

144,039

Anthony York

Nil

136,430

Sam Williams

Nil

123,178

Christopher Glasson

Nil

104,304

Angela Leach

Nil

99,337

Elizabeth Vaughan-Adams

Nil

74,503

Douglas Moray Wright

Nil

53,642

Dan Xie

Nil

35,665

Lisa Patel

Nil

18,357

e)

Aggregated information

-Aggregated volume

- Price

- Aggregated total

 

Aggregated Number of Shares conditionally awarded under the RSP to Directors and PDMRs on 28 June 2022: 2,309,310

Price: £ nil

2,309,310

f)

Date of the transaction

28 June 2022

g)

Place of the transaction

Outside a trading venue

 

 

 

Scrip Election

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Greg Smith

2

Reason for the notification

a)

Position/status

Chief Executive Officer

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

Election of Scrip Dividend

c)

Currency

GBP

d)

Price(s) and volume(s)

 

Name(s)

Price(s)

Volume(s)

Greg Smith

  85.3p

 1,577

 

e)

Aggregated information

-Aggregated volume

- Price

- Aggregated total

 

1,577

85.3p

£1,345.19

 

f)

Date of the transaction

30 June 2022

g)

Place of the transaction

London Stock Exchange, Main Market

 

 

 

  1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Angela Leach

2

Reason for the notification

a)

Position/status

PDMR  General Counsel & Company Secretary

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

Election of Scrip Dividend

c)

Currency

GBP

d)

Price(s) and volume(s)

 

Name(s)

Price(s)

  Volume(s)

Angela Leach

  85.3p

  2,270

e)

Aggregated information

-Aggregated volume

- Price

- Aggregated total

 

2,270

85.3p

£1,936.31

 

f)

Date of the transaction

30 June 2022

g)

Place of the transaction

London Stock Exchange, Main Market

 

  1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Lisa Patel

2

Reason for the notification

a)

Position/status

PDMR Partner, Employee Executive

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

Election of Scrip Dividend

c)

Currency

GBP

d)

Price(s) and volume(s)

 

Name(s)

Price(s)

  Volume(s)

Lisa Patel

  85.3p

  88

e)

Aggregated information

-Aggregated volume

- Price

- Aggregated total

 

88

85.3p

£75.07

 

f)

Date of the transaction

30 June 2022

g)

Place of the transaction

London Stock Exchange, Main Market

 

  1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Christopher Glasson

2

Reason for the notification

a)

Position/status

PDMR Finance Director

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

Election of Scrip Dividend

c)

Currency

GBP

d)

Price(s) and volume(s)

 

Name(s)

Price(s)

  Volume(s)

Christopher Glasson

  85.3p

  92

e)

Aggregated information

-Aggregated volume

- Price

- Aggregated total

 

92

85.3p

£78.48

 

f)

Date of the transaction

30 June 2022

g)

Place of the transaction

London Stock Exchange, Main Market

 

  1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Douglas Moray Wright

2

Reason for the notification

a)

Position/status

PDMR CEO, Parkwalk

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

Election of Scrip Dividend

c)

Currency

GBP

d)

Price(s) and volume(s)

 

Name(s)

Price(s)

  Volume(s)

Douglas Moray Wright

  85.3p

  1,386

e)

Aggregated information

-Aggregated volume

- Price

- Aggregated total

 

1,386

85.3p

£1,182.26

 

f)

Date of the transaction

30 June 2022

g)

Place of the transaction

London Stock Exchange, Main Market

 

 

 

 

For more information, please contact:

 

IP Group plc

www.ipgroupplc.com

David Baynes, Chief Financial and Operating Officer
Liz Vaughan-Adams, Communications 

+44 (0) 20 7444 0050
+44 (0) 20 7444 0062/+44 (0) 7967 312125

Charlotte Street Partners


Andrew Wilson

+44 (0) 7810 636995

David Gaffney

+44 (0) 7854 609998

 

Notes for editors

 

About IP Group

 

IP Group develops world-changing science and technology businesses across life sciences, technology and cleantech (through Kiko Ventures). The Group has a strong track record of success, having been the founder investor in a number of high-profile companies including Oxford Nanopore Technologies plc, and has one of the most exciting portfolios of high-growth businesses in Europe. The Group also owns Parkwalk, the UK's largest growth EIS fund manager which backs world-changing technologies emerging from the UK's leading universities and research institutions. 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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHBKKBQABKDPAN

Companies

IP Group (IPO)
UK 100

Latest directors dealings