Modern Water IPO
IP Group PLC
18 May 2007
IP GROUP'S MODERN WATER SUBSIDIARY ANNOUNCES ITS INTENTION
TO FLOAT ON LONDON'S ALTERNATIVE INVESTMENT MARKET (AIM)
IP Group plc (LSE: IPO) ('IP Group'), the intellectual property
commercialisation company, is delighted to announce that Modern Water Limited
('Modern Water') has today announced its intention to float on London's
Alternative Investment Market (AIM) by way of a placing.
Modern Water was set up to establish and exploit a portfolio of water
technologies to address the global problems of economic availability of fresh
water and the treatment and disposal of waste water. It is one of three IP Group
'Modern-themed' subsidiaries and is the first of these subsidiaries to announce
its intention to float on the AIM market.
The creation of these 'Modern-themed' businesses is part of IP Group's strategy
of establishing businesses, run by experienced and specialist management teams,
to address particular issues affecting the global economy through the creation
and management of a portfolio of intellectual-property based investments. IP
Group's other two 'Modern' subsidiaries are Modern Biosciences, set up to
address the problem of poor product pipeline within major pharmaceutical
companies, and Modern Waste, set up to establish and exploit a portfolio of
innovative sensing, monitoring and control technologies and apply them to the
waste and recycling markets.
The press release issued today by Modern Water follows:
Modern Water Limited announces intention to float on the Alternative Investment
Market
Modern Water Limited ('Modern Water' or 'the Group'), a technology based water
solutions company, has announced its intention to float on London's Alternative
Investment Market (AIM). KBC Peel Hunt Ltd has been appointed as nominated
advisor and broker to the company.
Modern Water has been established to source, develop and deploy technology-based
solutions to meet the growing demand for the economic availability of fresh
water and treatment of waste water. Modern Water's objective is to create value
for shareholders through both the acquisition of assets through which the
Group's technologies can be deployed to improve the efficiency and reduce the
operating costs of such assets and the licensing and sale of the Group's
water-related technologies to third parties.
The Group's initial focus is to continue to invest in its technologies and to
subsequently deploy them across the international fresh water and waste water
industry with the aim of increasing the economic availability of fresh water
from the conversion and use of sea water.
The lack of fresh water is rapidly reaching a crisis level with the UN
forecasting that by 2025, 5.5 billion people will live in areas classified as
water stressed. With 97.5% of the world's water in seas and oceans, this
resource represents a major opportunity to provide optimal water solutions.
Neil McDougall, Executive Chairman of Modern Water, said:
'The shortage of fresh water is perceived to be one of the major global
socio-economic problems facing us in the early part of the 21st century. The
ability to provide an efficient and economical answer to this, through the
application of cost-effective desalination and fresh water substitution, would
be a significant break-through for our generation. We believe we have that
answer.'
For further information, please contact:
Modern Water
Neil McDougall 07740 930 303
HeadLand Consultancy
Howard Lee, Tom Gough 020 7367 5222
www.modernwater.co.uk
Notes to editors
The Group is initially concentrating on two distinct approaches to the water
market being: (i) desalination; and (ii) the substitution of fresh water with
sea water or recycled water for certain non-potable uses. The Group's strategy
is to acquire key stakes in appropriate technologies within these areas and to
date has made investments in Surrey Aquatechnology Limited and Poseidon Water
Limited. The Group also has an investment in Cymtox Limited.
For further information, please contact:
IP Group plc 020 7489 5200
Alan Aubrey, Chief Executive Officer
Liz Vaughan-Adams (Communications) 020 7489 5206/07979853802
Buchanan
Tim Anderson, Mary-Jane Johnson, Mark Court 020 7466 5000
Notes for Editors
About IP Group
IP Group Plc is an intellectual property (IP) commercialisation company that
specialises in commercialising university technology. Founded in 2001, IP Group
listed on AiM in October 2003 and moved to the Official List in June 2006. It
has made two acquisitions to date - Techtran, a company set up to commercialise
university intellectual property under a long term contract with the University
of Leeds, in 2005 and Top Technology Ventures, an investment adviser to early
stage technology venture capital funds, in 2004.
IP Group has formed long-term partnerships with ten universities - the
University of Oxford, King's College London, CNAP/University of York, the
University of Leeds, the University of Bristol, the University of Surrey, the
University of Southampton, Queen Mary (University of London), the University of
Bath and the University of Glasgow.
As at 31 December 2006, 53 spin-out companies had been created among the group's
university partners. Of those, eight have listed on the AiM market of the London
Stock Exchange, one on PLUS Markets and there have been two trade sales.
For more information, please visit our website at www.ipgroupplc.com.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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