28 June 2022

IG Design Group plc
 

('Design Group' or the 'Company')  
 

Cancellation of Value Creation Scheme ("VCS")

IG Design Group plc announces the cancellation of the VCS which was granted in early 2021. Following a review of the scheme, the Remuneration Committee of the Company believe the grants made under the VCS no longer align the interests of employees and shareholders.

Under the VCS rules, any material changes to the VCS requires the consent of participants holding awards which together represent more than 50 per cent. of all outstanding award values.  Following consultation with participants, this minimum requirement has been achieved allowing the cancellation of the VCS to occur. 

The VCS awards were intended to allow participants to share, in total, in up to 12.5 per cent. of the value created for shareholders over a 3 year period (the "VCS Pool"). The cancelled PDMR awards, expressed as a percentage of the VCS Pool, are set out below:

Giles Willits 12.5%

Lance Burn 7.5%

The Remuneration Committee will look to put in place a more appropriate incentive scheme moving forward. The Company will inform the market of the new scheme at the relevant time.

For further information, please contact: