Share Capital Reduction Effective

RNS Number : 2246X

IP Group PLC

17 December 2019

 

IP Group plc

('IP Group' or 'the Group' or 'the Company')

Share Capital Reduction Effective

IP Group (LSE:IPO), the developer of intellectual property-based businesses, announces that further to its announcements of 8 November and 25 November 2019, the High Court of England and Wales sanctioned the Company's application for its Capital Reduction on 17 December 2019.

The order of the High Court confirming the Capital Reduction and the statement of capital approved by the High Court in connection therewith were registered by the Registrar of Companies on 17 December 2019, whereupon the Capital Reduction became effective.

The Company confirms that, following the Capital Reduction, the issued share capital of the Company comprises 1,059,144,595 ordinary shares of 2p each; there are no shares held in treasury. The total number of voting rights in the Company is therefore 1,059,144,595.

Terms used but not defined in this announcement are as defined in the Company's announcement of 8 November 2019.

For further information please contact:

IP Group plc                                                    [phone]

Alan Aubrey, Chief Executive Officer    

Greg Smith, Chief Financial Officer

Liz Vaughan-Adams, Communications                [phone]

[phone]

Charlotte Street Partners

Andrew Wilson                                                  [phone]

David Gaffney                                                    [phone]

Notes for editors

About IP Group

IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. 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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