Result of AGM
Summary by AI BETAClose X
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FOR IMMEDIATE RELEASE |
18 June 2026 |
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) WHICH FORMS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
IP Group plc - Results of Annual General Meeting
The Annual General Meeting ("AGM") of IP Group plc ("IP Group" or "the Group") was held earlier today. The Resolutions set out in the Notice of Meeting were put to shareholders and voted on by poll. The results of the voting are set out below:
IP Group plc Annual General Meeting Poll Results
|
|
RESOLUTION |
VOTES |
% |
VOTES |
% |
VOTES |
% of ISC VOTED |
VOTES |
|
1 |
To receive the Directors' Report, the Audited Statement of Accounts and Auditor's Report of the Company for the financial year ended 31 December 2025. |
510,617,191 |
99.94 |
298,691 |
0.06 |
510,915,882 |
57.83 |
562,245 |
|
2 |
To approve the Directors' Remuneration Report for the year ended 31 December 2025. |
334,324,190 |
65.41 |
176,786,734 |
34.59 |
511,110,924 |
57.86 |
367,203 |
|
3 |
To re-appoint KPMG LLP as auditor of the Company. |
506,408,946 |
99.08 |
4,718,323 |
0.92 |
511,127,269 |
57.86 |
350,858 |
|
4 |
To authorise the Directors to fix the remuneration of KPMG LLP as auditor of the Company. |
508,420,273 |
99.41 |
3,014,071 |
0.59 |
511,434,344 |
57.89 |
43,783 |
|
5 |
To elect Michael Queen as a Director of the Company. |
510,551,895 |
99.85 |
757,039 |
0.15 |
511,308,934 |
57.88 |
169,193 |
|
6 |
To re-elect Mr David Baynes as a Director of the Company. |
348,150,494 |
99.77 |
802,260 |
0.23 |
348,952,754 |
39.50 |
162,525,373 |
|
7 |
To re-elect Dr Caroline Brown as a Director of the Company. |
343,846,729 |
98.54 |
5,106,768 |
1.46 |
348,953,497 |
39.50 |
162,524,630 |
|
8 |
To re-elect Mr Heejae Chae as a Director of the Company. |
338,864,309 |
97.11 |
10,088,937 |
2.89 |
348,953,246 |
39.50 |
162,524,881 |
|
9 |
To re-elect Ms Aedhmar Hynes as a Director of the Company. |
343,900,236 |
98.55 |
5,048,704 |
1.45 |
348,948,940 |
39.50 |
162,529,187 |
|
10 |
To re-elect Ms Anita Kidgell as a Director of the Company. |
343,873,360 |
98.54 |
5,079,214 |
1.46 |
348,952,574 |
39.50 |
162,525,553 |
|
11 |
To re-elect Mr Greg Smith as a Director of the Company. |
348,324,643 |
99.82 |
614,482 |
0.18 |
348,939,125 |
39.50 |
162,539,002 |
|
12 |
To authorise the Directors to exercise all the powers of the Company to allot shares and grant rights to subscribe for or to convert any security into shares in the Company subject to the limits set out in the AGM notice. |
344,488,842 |
67.36 |
166,932,458 |
32.64 |
511,421,300 |
57.89 |
56,827 |
|
13 |
To empower the Directors to allot equity securities for cash, or sell treasury shares, dis-applying statutory pre-emption rights subject to the limits set out in the AGM notice. |
339,168,052 |
66.32 |
172,243,241 |
33.68 |
511,411,293 |
57.89 |
66,834 |
|
14 |
In addition to the authority granted under Resolution 14, to empower the Directors to allot equity securities in connection with an acquisition or other capital investment as if section 561(1) of the Companies Act 2006 ("Act") did not apply to any such allotment, subject to the limits set out in the AGM notice. |
333,637,070 |
65.24 |
177,775,576 |
34.76 |
511,412,646 |
57.89 |
65,481 |
|
15 |
To authorise the Company and its subsidiaries to incur political expenditure (as defined in section 365 of the Act) not exceeding £50,000 in total. |
506,846,714 |
99.15 |
4,339,850 |
0.85 |
511,186,564 |
57.86 |
291,563 |
|
16 |
To authorise the Company to make market purchases (as defined in section 693(4) of the Act) of the Company's ordinary shares, subject to the limits set out in the AGM notice. |
339,438,735 |
66.38 |
171,886,430 |
33.62 |
511,325,165 |
57.88 |
152,962 |
|
17 |
To enable a general meeting other than an Annual General Meeting to be called on not less than 14 clear days' notice. |
503,586,567 |
98.46 |
7,853,461 |
1.54 |
511,440,028 |
57.89 |
38,099 |
|
18 |
To amend the articles of association of the Company. |
508,811,384 |
99.50 |
2,552,180 |
0.50 |
511,363,564 |
57.88 |
114,563 |
As previously announced, after almost eight years of service, Sir Douglas Flint, CBE, retired as Chair of the Group at the conclusion of the AGM. Michael Queen assumed the role of Chair and has also been appointed as the Chair of the Nomination Committee.
The Board acknowledges that more than 20% of the votes cast were against Resolutions 2, 12-14 and 16 and, in addition, the failure of Resolutions 13, 14 and 16 to pass. With respect to the share buyback resolution, the Board believes that the ability to return capital via share buybacks, together with the additional potential benefit of narrowing the discount to NAV per share, is an important part of the Company's ability to implement its capital allocation policy.
The Board will engage constructively with shareholders and consider all feedback.
In accordance with the UK Corporate Governance Code, the Group will publish an update within six months and report the outcome of that engagement in the next annual report.
In accordance with Listing Rule 9.6.1, a copy of the Resolutions has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.
For more information, please contact:
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IP Group plc |
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|
Liz Vaughan-Adams, Communications |
+44 (0) 20 7444 0062/+44 (0) 7979 853802 |
|
Portland |
|
|
Alex Donaldson Pauline Guénot |
+44 (0) 7516 729702 +44 73 7906 8832 |
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Notes for editors
About IP Group
IP Group accelerates the impact of science for a better future. As the most active UK based, early stage science and technology investor, we develop and support some of the world's most exciting businesses in healthtech, deeptech and cleantech. Including through Parkwalk, the UK's largest growth EIS fund manager, we back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach. Together we have a strong track record of success, having backed high-profile companies including Oxford Nanopore Technologies plc, Hinge Health, Featurespace, First Light Fusion, Hysata, and Oxa. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.
For more information, please visit our website at www.ipgroupplc.com.
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