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Director/PDMR Shareholding

Posted:
7/8/2015

RNS Number : 5064V 
IG Group Holdings plc
7 August 2015

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).

The below table sets out the Directors’ shareholdings following all transactions disclosed in this RNS.

Director and Connected Persons

Shareholding prior to transactions

Shareholding following transactions

Peter Hetherington

129,899

175,094

Christopher Hill

44,256

86,919

Tim Howkins

1,621,183

1,621,183

 

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 6 August 2015, the Company received exercise notices from the Directors and PDMRs exercising their nil‑cost options vesting on 21 July 2015. 

In addition, on 6 August 2015, the Company received exercise notices from Tim Howkins and Jon Noble, a PDMR, exercising options resulting from awards made to  the Directors and PDMRs under the Value Sharing Plan on 29 October 2010 (as disclosed in RNS 4155V dated 1 November 2010). These options vested 29 October 2014.

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

Peter Hetherington

6/08/15
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 2015.

Nil

Christopher Hill

6/08/15
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 2015.

Nil

Tim Howkins

6/08/15
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 2014.
Exercise of nil-cost options to acquire 14,299 Ordinary Shares under the Company’s Value Sharing Plan, following the award made in 2011, vesting in 2015.

Nil

Jackie Bornor
(PDMR – Head of HR)

6/08/15
London

Exercise of nil cost options to acquire 2,194 Ordinary Shares under the Company’s Value Sharing Plan, following the award made in 2011 vesting in 2015.

Nil

Bridget Messer
(PDMR – Head of Legal & Compliance and Company Secretary)

6/08/15
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 2015.

Nil

Jon Noble 
(PDMR – CIO)

6/08/15
London

Exercise of nil-cost options to acquire 6,663 Ordinary Shares under the Company’s Value Sharing Plan, following the award made in 2010, vesting in 2014.
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 2015.

Nil

2a. Sustained Performance Plan: Exercise of par cost options

As disclosed in RNS 4600O, on 6 August 2014, the Company granted a number of options to the Directors and PDMRs under the Company’s Sustained Performance Plan (“SPP”). The performance period for the awards was 1 June 2011 to 31 May 2014.  For Directors, 40% of the options awarded vest on the grant date. Another 40% of the awards vest on 21 July 2015. For PDMRs, 40% of the  options awarded vest on 21 July 2015. Unvested awards accrue dividend equivalent entitlements.

On 6 August 2015, the Company received exercise notices from the Directors and PDMRs exercising the options which vested on 21 July 2015 as set out in the table below:

Director/PDMR

Date and place of transaction

Nature of transaction

Price per share

Peter Hetherington

6/08/15
London

Exercise of par cost options to acquire 38,534 Ordinary Shares

0.005pence

Christopher Hill

6/08/15
London

Exercise of par cost options to acquire 35,946 Ordinary Shares

0.005pence

Tim Howkins

6/08/15
London

Exercise of par cost options to acquire 51,360 Ordinary Shares

0.005pence

Jackie Bornor
(PDMR –Head of HR)

6/08/15

Exercise of par cost options to acquire 13,021 Ordinary Shares

0.005pence

Bridget Messer
(PDMR – Head of Legal & Compliance and Company Secretary)

6/08/15
London

Exercise of par cost options to acquire 15,962 Ordinary Shares

0.005pence

Jon Noble 
(PDMR – CIO)

6/08/15
London

Exercise of par cost options to acquire 23,336 Ordinary Shares

0.005pence

2b. Sustained Performance Plan: Award and Exercise of par cost options

On 6 August 2015, the Company made awards of par-cost options to acquire Ordinary Shares to the Directors and PDMRs under the SPP. The award relates to the performance period 1 June 2014 to 31 May 2015. The share price used to determine the number of options awarded is £7.4255, 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 FY15 Annual Report, due to be published onwww.iggroup.com on 15 September 2015.
  
In accordance with the rules of the SPP, 40% of the options awarded to the Directors under Year 1 of the grant of the SPP vest immediately upon grant. On 6 August 2015, the Company received exercise notices from the Directors exercising all vested options granted under the SPP in 2015.
  
Full details of awards and exercises are set out below:

Director/PDMR

Date and place of transaction

Nature of transaction

Price per share

Peter Hetherington

6/08/15
London

Award of 98,469 par-cost options to acquire 98,469 Ordinary Shares.

Nil

Exercise of 39,388 par-cost options to acquire 39,388 Ordinary Shares.

0.005 pence

Christopher Hill

6/08/15
London

Award of 91,854  par-cost options to acquire 91,854 Ordinary Shares.

Nil

Exercise of 36,742 par-cost options to acquire 36,742 Ordinary Shares.

0.005 pence

Tim Howkins

6/08/15
London

Award of 131,236  par-cost options to acquire 131,236  Ordinary Shares.

Nil

Exercise of 52,494 par-cost options to acquire 52,494 Ordinary Shares.

0.005 pence

Jackie Bornor
(PDMR – Head of HR)

6/08/15
London

Award of 20,010 par-cost options to acquire 20,010 Ordinary Shares.

Nil

Bridget Messer
(PDMR – Head of Legal & Compliance and  Company Secretary)

6/08/15
London

Award of 25,012 par-cost options to acquire 25,012 Ordinary Shares.

Nil

Jon Noble 
(PDMR – CIO)

6/08/15
London

Award of 35,435 par-cost options to acquire 35,435  Ordinary Shares.

Nil

3. Purchase of Shares under the Company’s Share Incentive Plan (“SIP”)

The Company operates a HMRC approved SIP, which is open to all UK based employees. For this year, the maximum annual amount that an employee can invest under the scheme is £1800. Employees that choose to invest the maximum received 243 shares on 6 August 2015. If employees participating in the plan retain their purchased shares and remain employed on the 3rd anniversary of the purchase, the Company will match the shares on a two-for one basis.

On 7 August 2015, the Company was advised that the following transactions were made under the SIP:

Director/PDMR

Date and place of transaction

Nature of transaction

Price per share

Christopher Hill

06/08/2015
London

Purchase:  243 Ordinary Shares under the  SIP

    £7.395

Jackie Bornor
(PDMR – Head of HR)

06/08/2015
London

Purchase:  244 Ordinary Shares under the  SIP

     £7.395

Jon Noble  (PDMR – CIO)

06/08/2015

London

Purchase: 244 Ordinary Shares under the  SIP

    £7.395

4. Shares sales

On 7 August 2015, 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

Peter Hetherington

6/08/15
London

Sale of 4,683 Ordinary Shares

Sale of 36,623 Ordinary Shares

 

£7.395

 

£7.347

Christopher Hill

6/08/15
London

Sale of  4,683 Ordinary Shares
Sale of  34,164 Ordinary Shares

 

£7.395

£7.347

Tim Howkins

6/08/15
London

Sale of 31,356 Ordinary Shares
Sale of 103,854 Ordinary Shares

£7.395

£7.347

Jackie Bornor
(PDMR – Head of HR)

6/08/15
London

Sale of 2,194 Ordinary Shares
Sale of 13,021 Ordinary Shares

£7.395

£7.347

Bridget Messer
(PDMR – Head of Legal & Compliance and Company Secretary)

6/08/15
London

Sale of 2,743 Ordinary Shares
Sale of 15,962 Ordinary Shares

£7.395

£7.347

Jon Noble 
(PDMR – CIO)

6/08/15
London

Sale of 10,777 Ordinary Shares
Sale of 23,336 Ordinary Shares

 

 £7.395

£7.347

IG Group
Kieran McKinney
Head of Investor Relations          020 7573 0026

FTI
Neil Doyle / Ed Berry      020 3727 1141 / 1046

IG is a global leader in online trading, providing fast and flexible access to over 10,000 financial markets – including shares, indices, forex, commodities and binaries. 

Established forty years ago as the world’s first financial spread betting firm, IG’s aim is to become the default choice for active traders globally. It is an award-winning multi-platform trading company, the world’s No.1 provider of CFDs* and a global leader in forex, and it now offers an execution-only stockbroking service in the UK, Ireland, Germany, Austria and the Netherlands.

It is a member of the FTSE 250, with offices across Europe, Africa, Asia-Pacific, the Middle East and the US, where it offers limited risk derivatives contracts via the Nadex brand.

*Based on revenue excluding FX, published financial statements, July 2014.