RNS Number: 4682N
IG Group Holdings plc
11 June 2010
IG Group Holdings plc ("IG") has today been notified of the following transactions by a director and his spouse in respect of IG's ordinary shares of 0.005p each. On 11 June 2010 in London, Tim Howkins and his wife, Caroline Howkins, each entered into an agreement to dispose of the majority of their shareholdings to family trusts. The number of shares involved was:
Tim Howkins 2,006,991
Caroline Howkins 1,768,009
These agreements provide for completion of each transaction to take place on 11 June 2020 unless the purchaser serves notice to complete the acquisition of some or all of the shares prior to that date. The consideration, payable at completion, for each transaction is GBP100,000 plus, if the market value of the shares disposed is higher than GBP100,000 at the date of completion, an amount equal to 95% of such market value less GBP100,000.
Following these transactions, Tim Howkins' interest in the ordinary share capital of IG remains unchanged at 3,800,000 shares, representing 1.05% of the issued share capital, comprising 2,019,491 held by him and 1,780,509 held by his wife.