IG Group wins Jersey redomicile court approval
IG Group has won court sanction for the scheme that makes a Jersey company its new parent, and the final condition is due tomorrow evening. The Court made the order yesterday, and the Financial Conduct Authority (FCA) approved a prospectus for the new company’s shares, published the same day.
IG, which runs the IG, tastytrade and Freetrade brands, said in its regulatory announcement:
the Company is pleased to announce that the Court has today made the Court Order sanctioning the Scheme.
IG Group
The scheme of arrangement, a court-approved procedure under Part 26 of the Companies Act 2006, makes Jenkins Topco plc, to be renamed IG Group Holdings plc, the new holding company. This is a redomicile, a move of the group’s legal home to another jurisdiction.
One step remains: delivery of the Court Order to the Registrar of Companies, the official company register, expected at 8.00 p.m. UK time tomorrow. That is the Scheme Effective Time. All dates are expected and conditional, and IG will announce any change.
| When | Step |
|---|---|
| 13 November 2026 | Last day of dealings; existing shares disabled in CREST |
| 13 November 2026, 6.30 p.m. | Record time |
| 13 November 2026, 8.00 p.m. | Scheme Effective Time |
| 16 November 2026, 8.00 a.m. | Existing shares de-listed; new shares admitted |
| Within 14 days of 16 November 2026 | Cash for Overseas Shareholders |
CREST is the system that settles UK share trades, and the record time is the point at which holders are fixed. At the effective time, existing share capital is cancelled and shareholders receive new shares. Brokers, platforms and custodians will likely need the CREST disablement and the new share line ready for Monday. Overseas Shareholders receive cash payments, where applicable.
The prospectus reaffirms guidance given on 2 October: mid-single-digit per cent revenue growth in 2026 and about £30m of non-recurring redomicile and restructuring costs, £16.4m of it in the first half. The earnings before interest, tax, depreciation and amortisation (EBITDA) margin should be in the low 40s per cent, excluding those costs and any Underdog acquisition expenses, which are contingent on closing.
Excluding Underdog, IG targets organic revenue growth of 10 per cent or more a year from a 2025 base of about £1,100m, with a mid-40s per cent EBITDA margin. Kathleen DeRose joins the board as an independent non-executive director from the effective date.
