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On 13 December 2023, IG Design Group Plc announced that APEX Financial Services (Trust Company) Limited, trustee of the Company's Employee Benefit Trust (EBT), intends to make market purchases of ordinary shares. These purchases, up to a value of £2.80 million, are for the benefit of the EBT to help meet future obligations under the Company's long-term incentive plan and will be funded by amounts advanced by the Company via loan.
| Date | 13 Dec 2023 |
| Time | 17:04:01 |
| Category | Miscellaneous |
| ID | 6980W |
13 December 2023
IG Design Group Plc
('Design Group' or the 'Company')
Intended Purchase of Shares by Employee Benefit Trust
The Company announces that APEX Financial Services (Trust Company) Limited, the trustee of the IG Design Group Plc Employee Benefit Trust (the "EBT"), has indicated its intention to make market purchases in ordinary shares of the Company for the benefit of the EBT up to a value of £2.80 million, to help meet future obligations arising under the Company's long-term incentive plan (the "Market Purchases").
The Market Purchases are subject to the EBT's discretion as to the purchase price, in consultation with Canaccord Genuity, the Company's broker, to be paid up to a pre-agreed maximum price per ordinary share in the Company.
The Market Purchases will be funded by amounts advanced by the Company by way of loan, such funding having been provided for within recent public announcements as to the Company's outlook.
Further announcements will be made on completion of the Market Purchases.
For further information, please contact:
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IG Design Group Plc Paul Bal, Chief Executive Officer Rohan Cummings, Chief Financial Officer
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Tel: +44 (0)1525 887310
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Canaccord Genuity Limited (Nomad and Broker) Bobbie Hilliam Sam Lucas
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Tel: +44 (0)20 7523 8000
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Alma Strategic Communications Rebecca Sanders-Hewett Sam Modlin Josh Royston |
Tel: +44 (0)20 3405 0205 |