Ip Group Regulatory News (IPO)

IP Group plc - AGM 2022 post-meeting shareholder engagement update

In accordance with Provision 4 of the UK Corporate Governance Code, IP Group plc (LSE: IPO) ("IP Group" or "the Company") is providing an update to the statement made on 14 June 2022 in relation to the voting outcome on Resolution 21 at the Annual General Meeting ("AGM") of the Company held on 14 June 2022.

As stated previously, the Company noted that Resolution 21 (approval of the IP Group plc Share Plan) was passed at the AGM, with 79.19% of shareholders voting in favour of the resolution. In recognition of the votes opposing the resolution, the Board committed to a continued engagement with shareholders on their concerns with the details of Resolution 21.

Since the AGM, the Remuneration Committee Chair has engaged further with shareholders, inviting any additional input in order to better understand why those who had opposed the resolution were unable to support it. The Board is grateful to those shareholders who took the time to respond to this further engagement, although notes that shareholder concerns remained primarily related to issues already discussed in detail with shareholders and proxy advisory groups during the extensive consultation process that preceded the vote. The Board values the feedback it has received and insights it has gained through the entire engagement process.

The Board continues to believe that the IP Group plc Share Plan rules are aligned with the long-term interests of the Company and its shareholders. The rules are aligned with the Remuneration Policy approved under Resolution 3 at the AGM, forming part of an overall approach to remuneration which seeks to align our senior executive remuneration structure and outcomes to long-term value creation and shareholder returns. As a result, no changes to the rules of the IP Group plc Share Plan which were approved at the AGM are proposed at this time.

The Board and Remuneration Committee remain committed to engaging with shareholders on Executive Director remuneration, and always welcome dialogue with any interested shareholders on the Group's Remuneration Policy, the rules of the IP Group plc Share Plan and on any implementation decisions.

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Notes for editors

About IP Group

IP Group develops world-changing science and technology businesses across life sciences, technology and cleantech (through Kiko Ventures). The Group has a strong track record of success, having been the founder investor in a number of high-profile companies including Oxford Nanopore Technologies plc, and has one of the most exciting portfolios of high-growth businesses in Europe. The Group also owns Parkwalk, the UK's largest growth EIS fund manager which backs world-changing technologies emerging from the UK's leading universities and research institutions. 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.

ENDS