Last checked at 19 Jun 2017 17:27
FOR RELEASE ON | 19 June 2017 |
IP Group plc - Issue of Equity
IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the Group"), the developer of intellectual property-based businesses, announces that it has issued 148,214 new ordinary shares of 2p each (the "New Shares") following the exercise of nil-cost options awarded under the Company's Deferred Bonus Share Plan ("DBSP Options") by certain employees on 14 June 2017.
The DBSP Options were awarded on 31 March 2016 to defer fifty per cent of each person's bonus due under the Group's 2015 Annual Incentive Scheme ("AIS"). Fifty per cent of the awards became exercisable on the first anniversary of the date of grant and fifty per cent shall became exercisable on the second anniversary of the date of grant, generally subject to continued employment. The remaining awards are exercisable for a maximum of three years from the date of grant. Further details are set out in the Group's 2015 Annual Report.
None of the Company's directors or other persons discharging managerial responsibilities exercised their DBSP Options at this time.
An application has been made to the Financial Conduct Authority for admission of the New Shares to the premium listing segment of the Official List maintained by the UK Listing Authority and to the London Stock Exchange. It is expected that admission will take place on 23 June 2017. Following the issue of New Shares, the Company has 696,727,321 ordinary shares in issue.
For more information, please contact:
IP Group plc | www.ipgroupplc.com |
Alan Aubrey, Chief Executive OfficerGreg Smith, Chief Financial OfficerLiz Vaughan-Adams, Communications | +44 (0) 20 7444 0050+44 (0) 20 7444 0062/+44 (0) 7979 853802 |
Charlotte Street Partners | |
Andrew Wilson | +44 (0) 7810 636995 |
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 subsidiary IP Capital), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in approximately 100 early-stage to mature businesses across four main sectors -- Biotech, Cleantech, Healthcare and Technology. The Company 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