Long Term Incentive Plan
|
FOR RELEASE ON |
1 JUNE 2012 |
IP Group plc - Long Term Incentive Plan
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 a conditional award of 1,060,463 ordinary shares of 2 pence each ("Ordinary Shares") to its executive directors under its Long Term Incentive Plan (the "LTIP").
Conditional awards have been made to the executive directors as follows:
|
Executive Director |
Maximum number of Ordinary Shares conditionally awarded in 2012 |
Maximum number of conditional share awards outstanding at the date of this announcement |
|
Alan Aubrey |
302,695 |
3,739,167 |
|
Alison Fielding |
230,625 |
2,991,747 |
|
Mike Townend |
230,625 |
2,991,747 |
|
Greg Smith |
142,768 |
1,133,420 |
|
Charles Winward |
153,750 |
1,309,650 |
The number of Ordinary Shares stated is the maximum number that could be issued to each executive director upon full satisfaction of the performance conditions attaching to the awards. As with the 2011 awards, the performance measures attaching to the executive directors' 2012 awards are based on the achievement of targets linked to growth in the Company's net assets and total shareholder return. Assuming satisfaction of the conditions in full, the awards will vest on 31 March 2015 and the 1,060,463 Ordinary Shares will be issued to the executive directors as soon as practicable after this date.
As at the date of this announcement, a total of 18,756,435 Ordinary Shares have been conditionally awarded to executive directors and employees of IP Group and remain subject to performance conditions. The Company currently has 365,763,664 Ordinary Shares in issue.
A copy of the rules of the LTIP is available to shareholders upon request or can be accessed on the Group's website.
For more information, please contact:
|
IP Group plc |
|
|
Alan Aubrey, Chief Executive Officer |
+44 (0) 20 7444 0050 |
|
Liz Vaughan-Adams, Communications |
+44 (0) 20 7444 0062 / +44 (0) 7979 853 802 |
|
FTI Consulting |
|
|
Ben Atwell, John Dineen |
+44 (0) 20 7831 3113 |
Notes for editors
About IP Group
IP Group is a leading UK intellectual property ("IP") commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.
The Company's portfolio comprises holdings in over 60 companies including Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.
The portfolio includes early stage to mature businesses and has exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, fourteen of the portfolio companies IP Group has backed have listed on the AIM market of the London Stock Exchange and one on PLUS Markets.
Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006. The Group now has long-term partnerships with twelve core universities including those under its commercialisation agreement with Fusion IP plc.
For more information, please visit our website at www.ipgroupplc.com.
Ends
This information is provided by RNS
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