TIDMIPO

RNS Number : 9687T

IP Group PLC

01 April 2016

 
 FOR RELEASE ON   01 April 2016 
 

IP Group plc - Director / PDMR Shareholding and Issue of Equity

IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the Group"), the developer of intellectual property-based businesses, announces that it has today issued 457,877 new ordinary shares of 2p each (the "Shares") following the vesting of conditional awards of shares made under the Company's Long-Term Incentive Scheme (the "Scheme") in 2013 (the "2013 Awards").

As a result, the Company today received notification from the following Directors/Persons Discharging Managerial Responsibilities in relation to the acquisition of Shares under the Scheme and subsequent sale, at an aggregate price of 170 pence per share, as set out in the table below. The shares are subject to a further one year post-vesting holding period and thus the shares sold, as detailed below, were done so only to meet income tax and national insurance liabilities.

 
                                                      Resultant beneficial 
                                                            interest 
                                    Shares   Shares 
Director/PDMR   Position             vested   sold       Shares        % 
                Chief Executive 
Alan Aubrey      Officer            81,217   44,565    2,490,651      0.44 
                Chief Investment 
Mike Townend     Officer            64,974   35,653    1,074,504      0.20 
                Chief Financial 
Greg Smith       Officer            45,999   25,243     260,989       0.05 
Angela Leach    Company Secretary   55,447   30,426     248,939       0.04 
 

In addition, the Company received notification that Greg Smith has today transferred 24,642 IP Group plc shares into a self-invested personal pension in his own name. His beneficial interest in the Group remains unchanged from that set out above as a result of the transfer.

An application has been made to the Financial Conduct Authority for admission of the 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 6 April 2016.

Following this issue of shares, the Company has 565,106,045 ordinary shares in issue.

Awards under Deferred Share Bonus Plan ("DBSP")

On 31 March 2016, awards over IP Group plc shares were made to certain Executive Directors, other persons discharging managerial responsibilities and certain other employees under the Company's DBSP. The awards reflect the deferral of fifty per cent. of each person's award under the Group's Annual Incentive Scheme ("AIS") in respect of the Company's performance for the financial year ended 31 December 2015. 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    Total number of Shares held under 
                                                             DBSP                               the DBSP 
     Alan Aubrey          Nil-Cost Option                   85,420                               118,457 
     David Baynes         Nil-Cost Option                   51,962                               51,962 
     Mike Townend         Nil-Cost Option                   51,962                               73,986 
      Greg Smith          Nil-Cost Option                   45,274                               60,867 
     Angela Leach         Nil-Cost Option                   39,294                               54,887 
 

In addition to the above, awards over a total of 507,236 shares were made to certain other of the Group's employees.

As described above, the awards have been made as a result of the deferral of amounts awarded under the Group's AIS, as will be more fully described in the Group's 2015 Directors' Remuneration Report. The awards have been made pursuant to the rules of the current DBSP.

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.

The Company was informed of the above transactions on 1 April 2016.

For more information, please contact:

 
 IP Group plc                          www.ipgroupplc.com 
 Alan Aubrey, Chief Executive 
  Officer                              +44 (0) 20 7444 0050 
  Greg Smith, Chief Financial 
  Officer                               +44 (0) 20 7444 0062/+44 
  Liz Vaughan-Adams, Communications     (0) 7979 853802 
 Charlotte Street Partners 
 Andrew Wilson                         +44 (0) 7810 636995 
  Chris Sibbald                         +44 (0) 7855 955531 
 

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 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

END

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April 01, 2016 11:54 ET (15:54 GMT)

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