Ip Group Regulatory News (IPO)

IP Group plc - Portfolio company Mirriad announces £26.2m fundraising and proposed admission to AIM

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), a leading developer of intellectual property-based businesses, is pleased to note that portfolio company Mirriad Advertising plc ("Mirriad" or "the Company"), the global video technology company and developer of native in-video advertising, has successfully priced its Initial Public Offering (the "IPO") and has applied for the Admission of its entire issued and to be issued share capital to AIM, a market operated by London Stock Exchange plc.

Mirriad has announced the raising of £26.2 million gross proceeds through a conditional placing of 42,258,065 new ordinary shares of £0.00001 pence each in the Company ("Shares") at 62 pence per Share (the "Placing Price") to institutional and other investors (the "Placing").

On admission to AIM, Mirriad will have a total of 101,896,911 Shares in issue, equating to a market capitalisation of approximately £63.2 million at the Placing Price.

Following completion of the Placing and Admission, IP Group will be beneficially interested in 27,726,904 Shares in Mirriad, representing 27.2% of Mirriad's enlarged issued share capital, valued at £17.2 million at the Placing Price. IP Group has committed £3.7 million to the Placing.

Mirriad is a global video technology company engaged in the development of native in-video advertising. Through Marketplace, its IP-protected proprietary technology, Mirriad can insert branded products and signage into existing video content as ad units. NIVA enables brands and advertisers to plan and run multi-title campaigns across all three screens - on TV, online and on mobile. With its existing blue-chip customer base in each of its key markets, Mirriad has a first-mover advantage poised to exploit a large and growing content monetisation market.

Admission is expected to occur on 19th December at 8:00 am, under the ticker symbol 'MIRI'. Numis is acting as Nominated Adviser, Broker and Joint Bookrunner in relation to the placing and admission to trading on AIM. Baden Hill is acting as Joint Bookrunner.

Mark Popkiewicz, Chief Executive of Mirriad, commented: "We are delighted to announce the pricing of Mirriad's imminent admission to AIM. This is an important milestone for the Group. Our proprietary technology, blue-chip customer relationships and operational momentum ensures we are ideally-placed to grow rapidly and drive returns for all stakeholders."

Dr Mark Reilly, IP Group's Head of Technology, said: "Our involvement with Mirriad is a great example of the value that IP Group can add to innovative technology companies, contributing business building expertise and practical support. We are very pleased to see the company reach this milestone having supported its growth in recent years."

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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 four main sectors -- Biotech, Cleantech, Healthcare and Technology. The Company, which recently announced the acquisition of Touchstone Innovations plc, 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