IG GROUP HOLDINGS PLC
RNS Number: 4600O
IG Group Holdings plc
6 August 2014
NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND OTHER PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs")
IG Group Holdings Plc (the "Company"), a global leader in online trading, gives notice of the following transactions carried out in respect of the Company's ordinary shares of 0.005p each (the "Ordinary Shares") by the Executive Directors (each a "Director" and together "the Directors") and other PDMRs (together "PDMRs"). This notice is being issued in accordance with DTR 3.1.4R(1).
1. Exercise of options under the Long Term Bonus Plan
As disclosed in RNS Number 2037J on 2 August 2012 and RNS Number 5150K on 30 July 2013, the Directors were awarded a number of nil cost options under the Company's Long Term Bonus Plan representing a deferred element of their FY12 and FY13 cash bonus, respectively.
On 5 August 2014, the Company received exercise notices from the Directors exercising their nil‑cost options under the FY13 cash bonus, and from Tim Howkins exercising his nil‑cost options under the FY12 cash bonus. As in previous years, the Company has elected to cash settle all options, subject to tax and National Insurance and according to a formula set down in the Plan. Therefore, the exercise of these options does not result in a change to the Directors' overall interest in the Company's Ordinary Shares.
Following the exercise by the Directors, there are no options (either vested or unvested) remaining in the Company's Long Term Bonus Plan.
Full details of the exercises are as follows:
| Director/PDMR | Date and place of transaction | Nature of transaction | ||
| Tim Howkins | 5/08/2014 London | Exercise of nil-cost options over 147,938 shares (arising from deferred FY12 and FY13 bonus) via cash settlement in accordance with the Company's Long Term Bonus Plan | ||
| Peter Hetherington | 5/08/2014 London | Exercise of nil-cost options over 25,340 shares (arising from deferred FY13 bonus) via cash settlement in accordance with the Company's Long Term Bonus Plan | ||
| Christopher Hill | 5/08/2014 London | Exercise of nil-cost options over 22,783 shares (arising from deferred FY13 bonus) via cash settlement in accordance with the Company's Long Term Bonus Plan | ||
2. Value Sharing Scheme: Exercise of nil-cost options
As disclosed in RNS 7624K, on 20 July 2011 the Company granted a number of options to the Directors and PDMRs under the Company's Value Sharing Plan. The performance period for the awards was 1 June 2011 to 31 May 2014. The awards vest in two tranches, 50% on 22 July 2014 and 50%, 12 months later. On 5 August 2014, the Company received exercise notices from the Directors and PDMRs exercising their nil‑cost options vesting on 22 July 2014.
In addition, on 5 August 2014, the Company received an exercise notice from Tim Howkins exercising options resulting from an award made to him under the Value Sharing Plan on 29 October 2010 (as disclosed in RNS 4155V). These options vested 22 October 2013.
Full details of the options exercised are set out in the table below:
| Director/PDMR | Date and place of transaction | Nature of transaction | Price per share | ||
| Tim Howkins | 5/08/2014 London |
Exercise of nil-cost options to acquire 17,057 Ordinary Shares under Company's Value Sharing Plan, following the award made in 2010, vesting in 2013. Exercise of nil-cost options to acquire 14,298 Ordinary Shares under the Company's Value Sharing Plan, following the award made in 2011, vesting in 2014. | Nil | ||
| Christopher Hill | 5/08/2014 London | Exercise of nil-cost options to acquire 8,579 Ordinary Shares under the Company's Value Sharing Plan, following the award made in 2011, vesting in 2014. | Nil | ||
| Peter Hetherington | 5/08/2014 London | Exercise of nil-cost options to acquire 8,579 Ordinary Shares under the Company's Value Sharing Plan, following the award made in 2011, vesting in 2014. | Nil | ||
Jon Noble (PDMR - CIO) | 5/08/2014 London | Exercise of nil-cost options to acquire 4,114 Ordinary Shares under the Company's Value Sharing Plan, following the award made in 2011, vesting in 2014. | Nil | ||
| Bridget Messer (PDMR - Head of Legal & Compliance and Company Secretary) | 5/08/2014 London | Exercise of nil-cost options to acquire 2,743 Ordinary Shares under the Company's Value Sharing Plan, following the award made in 2011, vesting in 2014. | Nil | ||
3. Sustained Performance Plan: Award and exercise of options
On 5 August 2014, following a shareholders' resolution at the Company's AGM on 17 October 2013 approving the Sustained Performance Plan ("SPP"), the Company made awards of par-cost options to acquire Ordinary Shares to the Directors and PDMRs relating to the performance period 1 June 2013 to 31 May 2014. The share price used to determine the number of options awarded is 609.9 pence, which is based on the average of the closing prices of the previous 10 days as is required by the rules of the SPP. Details of the performance criteria used will be disclosed in the Company's FY14 Annual Report, due to be published on www.iggroup.com on 16 September 2014.
In accordance with the rules of the SPP, 40% of the options awarded to the Directors under Year 1 of the SPP vest immediately upon grant. Vested but unexercised awards do not accrue dividend equivalent entitlements. On 5 August 2014, the Company received exercise notices from the Directors exercising all vested options under the SPP.
Full details of awards and exercises are set out below:
| Director/PDMR | Date and place of transaction | Nature of transaction | Price per share | ||
| Tim Howkins | 5/08/2014 London | Award of par-cost options to acquire 204,290 Ordinary Shares. | Nil | ||
| Exercise of 81,716 par-cost options to acquire 81,716 Ordinary Shares. | 0.005 pence | ||||
| Christopher Hill | 5/08/2014 London | Award of par-cost options to acquire 142,980 Ordinary Shares. | Nil | ||
| Exercise of 57,192 par-cost options to acquire 57,192 Ordinary Shares. | 0.005 pence | ||||
| Peter Hetherington | 5/08/2014 London | Award of par-cost options to acquire 153,273 Ordinary Shares. | Nil | ||
| Exercise of 61,309 par-cost options to acquire 61,309 Ordinary Shares. | 0.005 pence | ||||
Jon Noble (PDMR - CIO) | 5/08/2014 London | Award of par-cost options to acquire 55,694 Ordinary Shares. | Nil | ||
| Bridget Messer (PDMR - Head of Legal & Compliance and Company Secretary) | 5/08/2014 London | Award of par-cost options to acquire 38,094 Ordinary Shares. | Nil | ||
4. Shares sales
On 5 August 2014, the Company received notice of the following share sales made by the Directors and PDMRs:
| Director/PDMR | Date and place of transaction | Nature of transaction | Price per share | ||
| Tim Howkins | 5/08/2014 London | Sale of 113,071 Ordinary Shares | 615.13 pence | ||
| Christopher Hill | 5/08/2014 London | Sale of 57,271 Ordinary Shares | 616.50 pence | ||
| Peter Hetherington | 5/08/2014 London | Sale of 59,888 Ordinary Shares | 615.26 pence | ||
Jon Noble (PDMR - CIO) | 5/08/2014 London | Sale of 4,114 Ordinary Shares | 614 pence | ||
| Bridget Messer (PDMR - Head of Legal & Compliance and Company Secretary) | 5/08/2014 London | Sale of 2,743 Ordinary Shares | 614 pence | ||
5. Transfer of shares to connected person
On 6 August 2014, the Company received notice that Christopher Hill transferred 8,500 Ordinary Shares to his spouse and connected person, Vanessa Hill, for nil consideration.
6. Shareholdings following transactions
The below table sets out the Directors' shareholdings following all transactions disclosed in this RNS. (Please note, the exercise of options disclosed in section 1 of this RNS does not result in a change to the Directors' overall interest in the Company's Ordinary Shares because the options are cash settled in accordance with the rules of the Company's Long Term Bonus Plan.)
| Director and Connected Persons | Shareholding prior to transactions | Shareholding following transactions | ||
| Tim Howkins | 1,621,183 | 1,621,183 | ||
| Peter Hetherington | 35,428 | 43,928 | ||
| Christopher Hill | 114,267 | 124,267 | ||
For further information please contact:
IG Group
Kieran McKinney
Head of Investor Relations 020 7573 0026
FTI
Neil Doyle / Ed Berry 020 3727 1141 / 1046
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