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| Date | 14 Dec 2021 |
| Time | 17:08:47 |
| Category | Director/PDMR dealings |
| ID | 6495V |
|
FOR RELEASE ON |
14 December 2021 |
IP Group plc - LTIP Awards; PDMR shareholding
IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), the developer of intellectual property-based businesses, announces the following in connection with its employee share schemes.
Long Term Incentive Plan (the "LTIP")
IP Group has made conditional awards of an aggregate 23,922 Shares to two of its PDMRs under its Long Term Incentive Plan on 09 December 2021 as follows:
|
PDMR |
Maximum number of Shares |
Maximum number of conditionally awarded Shares currently outstanding |
|
Dan Xie |
11,961 |
204,790 |
|
Lisa Patel |
11,961 |
61,818 |
|
Total |
23,922 |
266,608 |
The performance measures attaching to these awards are based on the achievement of targets linked to growth in the Group's "hard" net assets ("Hard NAV") and total shareholder return ("TSR"), with the starting point for the TSR performance measure being 127.9p (the same starting point as the LTIP awards made by the Company on 05 May 2021) and for the Hard NAV performance measure being the Group's audited Hard NAV at 31 December 2020 of £1,331.5m.
Assuming satisfaction of the conditions in full, the awards will ordinarily vest on or after 31 March 2024. Any awards which vest will ordinarily be subject to a minimum two-year post-vesting holding period. Shares will be issued in connection with any vested awards at the end of this holding period.
Shares in issue
At the date of this announcement, the Company holds 20,457,105 of its ordinary shares in treasury and has 1,063,033,287 ordinary shares in issue (including treasury shares). Therefore, the total number of ordinary shares with voting rights will be 1,042,576,182.
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.
LTIP awards
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
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|
a) |
Name |
Dan Xie Lisa Patel |
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|
2 |
Reason for the notification |
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|
a) |
Position/status |
PDMR Director, IP Capital |
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|
|
Initial notification /Amendment |
Initial Notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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|
a) |
Name |
IP Group plc |
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|
b) |
Legal Entity Identifier |
213800HG22UM138WFG43 |
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|
4 |
Details of the transaction(s): section to be repeated for (a) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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|
a) |
Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 2p each in IP Group plc |
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|
b) |
Nature of the transaction |
Conditional award of Shares under the IP Group plc LTIP |
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|
c) |
Currency |
GBP |
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|
d) |
Price(s) and volume(s) |
|
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|
e) |
Aggregated information -Aggregated volume - Price - Aggregated total |
Aggregated Number of Shares conditionally awarded under the LTIP to PDMRs on 09 December 2021: 23,922 Price: £ nil |
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|
f) |
Date of the transaction |
09 December 2021 |
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|
g) |
Place of the transaction |
Outside a trading venue
|
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For more information, please contact:
|
IP Group plc |
|
|
Greg Smith, Chief Executive Officer |
+44 (0) 20 7444 0050 |
|
Charlotte Street Partners |
|
|
Andrew Wilson |
+44 (0) 7810 636995 |
|
David Gaffney |
+44 (0) 7854 609998 |
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 subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. 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