Tom Sosnoff transfers 1.1M shares in IG Group as gift to trusts
Electronic trading major IG Group Holdings plc (LON:IGG) announces that it has received notification that Tom Sosnoff, a Person Discharging Managerial Responsibilities (PDMR), transferred a total of 1,108,578 ordinary shares of 0.005p each on 9 December 2021, as a gift to trusts.
The transfer was for estate planning purposes and the lock up arrangements on those Ordinary Shares following the acquisition of tastytrade, Inc. remain in place.
Following the transaction, the number of shares held by Tom Sosnoff is 14,888,162 Ordinary Shares, representing 3.4% of IG Group’s issued share capital.
IG completed the acquisition of tastytrade, an online brokerage and investor education platform with a leading position in the U.S. listed options and futures market, in June 2021. The deal was initially announced in January 2021. The total consideration comprises $300 million in cash and the issuance of 61,000,000 new ordinary shares in IG to tastytrade shareholders.