Share Buyback Programme
IG Design Group launches share buyback programme for up to 9.8m ordinary shares by end September 2026.
- Maximum ordinary shares to be repurchased 9,830,814
- Minimum purchase price per share £0.01
- Programme end date 24 September 2026
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IG Design Group plc, a leading designer, innovator and manufacturer across various celebration and creative categories), today announces that it intends to commence a share buyback programme in respect of its ordinary shares of 5 pence each ("Ordinary Shares") up to a maximum of 9,830,814 Ordinary Shares from the date of this announcement (the "Share Buyback Programme").
The purpose of the Share Buyback Programme is set out in the full year results of the Company, published today, is return surplus capital to shareholders and to assist in the deliverability of sustainable shareholder returns.
On 16 June 2026 the Group entered into an irrevocable non-discretionary instruction with Canaccord Genuity Limited ("Canaccord") in relation to the purchase by Canaccord, acting as principal during the period commencing on 16 June 2026 and ending no later than 24 September 2026, of Ordinary Shares for an aggregate consideration (excluding expenses) of no greater than 9,830,814 Ordinary Shares and the simultaneous on-sale of such Ordinary Shares by Canaccord to Design Group, where they will be cancelled. Canaccord will make its trading decisions concerning the timing of the purchases of Ordinary Shares independently of, and uninfluenced by, the Group.
The minimum purchase price which may be paid for any Ordinary Share is £0.01 (exclusive of expenses). The maximum purchase price (exclusive of expenses) which may be paid for any Ordinary Share shall not be more than the higher of: (a) an amount equal to 105% of the average of the middle market quotations of the Ordinary Shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the Ordinary Shares is contracted to be purchased; and (b) an amount equal to the higher of the last independent trade of an Ordinary Share and the highest current independent bid for an Ordinary Share as derived from the London Stock Exchange System SETS. Purchases of Ordinary Shares under the Share Buyback Programme are conditional upon compliance with all legal and regulatory requirements and, in particular, on the Company having distributable reserves available for the purpose at the relevant time.
Under the Buyback Programme, Canaccord may, in accordance with certain parameters, independently of and without influence from Design Group, purchase Ordinary Shares on the London Stock Exchange from time to time and in its absolute discretion. During closed periods, in accordance with certain irrevocable instructions given to Canaccord in advance of the closed period, share purchases shall be carried out by Canaccord independently of and without influence from Design Group.
Whilst it is anticipated that the maximum daily volume of any purchases of Ordinary Shares pursuant to the Buyback Programme will not exceed 25% of the average daily volume of the Ordinary Shares traded on the London Stock Exchange for the 20 trading days preceding the date of the relevant purchase (as contemplated by Article 3(3) of the UK version of the MAR buy-back technical standards (Commission Delegated Regulation (EU) 2016/1052) as incorporated into UK domestic law by virtue of the European Union (Withdrawal) Act 2018) (the "MAR Buy-Back Regulation")). However, in periods of general illiquidity in the Company's Ordinary Shares, purchases may be made in excess of these volume limits. In such circumstances, the Company will not be able to rely on the safe harbour provisions of the MAR Buy-Back Regulation.
All purchases of Ordinary Shares under the Buyback Programme will be carried out on the London Stock Exchange and Canaccord will purchase any Ordinary Shares as principal and simultaneously be deemed to execute on-market sales of any Ordinary Shares so purchased to the Company in accordance with the buyback agreement on a 'riskless principal' basis.
Design Group intends to announce any purchase of Ordinary Shares under the Share Buyback Programme on a weekly basis, and in any event by no later than the end of the seventh daily market session following the date of execution.
For further information, please contact:
| IG Design Group plc | Tel: +44 (0)1525 887310 |
| Stewart Gilliland, Interim Executive Chair | |
| Rohan Cummings, Chief Financial Officer | |
| Canaccord Genuity Limited (Nomad and Broker) | Tel: +44 (0)20 7523 8000 |
| Bobbie Hilliam | |
| Elizabeth Halley-Stott | |
| Alma Strategic Communications | Tel: +44 (0)20 3405 0205 |
| Rebecca Sanders-Hewett | designgroup@almastrategic.com |
Sam Modlin
Will Merison
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.