Ip Group Regulatory News (IPO)

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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 - Portfolio company

on the London Stock Exchange; cornerstone investment agreement with Oracle

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, notes that portfolio company Oxford Nanopore Technologies Limited ("Oxford Nanopore" or "the Company"), the Company behind a new generation of nanopore-based sensing technology, whose products enable the real-time, high-performance, scalable analysis of DNA and RNA, has confirmed its intention to proceed with an initial public offering (the "IPO" or the "Offer") as well as the signing of a strategic memorandum of understanding and cornerstone investment agreement with Oracle Corporation ("Oracle").

Oxford Nanopore intends to apply for admission of its Shares to the standard listing segment of the Official List of the FCA and to trading on the London Stock Exchange's main market for listed securities. The final offer price in respect of the Offer (the "Offer Price") will be determined following a book-building process, with Admission currently expected to occur in early October 2021.

IP Group, which was a founding shareholder in Oxford Nanopore in 2005, has a 14.4% undiluted beneficial stake in the Company, which was valued at £359 million as at 30 June 2021.

Oxford Nanopore noted that the Offer would comprise a primary offer of new Shares to be issued by the Company, which is expected to raise gross proceeds of approximately £300 million, and a secondary offer of existing Shares to be sold by certain existing shareholders.

In addition, Oxford Nanopore noted that it has recently entered into a memorandum of understanding with Oracle, whereby the two companies will explore collaboratively a number of potential new solutions to address opportunities in the applied and clinical markets, and related go-to-market strategies. The collaboration is intended to draw on Oxford Nanopore's strengths in sequencing and genetic analysis, together with Oracle's strengths in database and cloud technologies. Separately, the Company and a vehicle controlled by Oracle have entered into a cornerstone investment agreement, pursuant to which such entity has irrevocably agreed, subject to certain customary conditions, to subscribe for £150 million of New Shares at the Offer Price. The Company is targeting a free float of at least 25% of the Company's issued share capital at Admission.

Alan Aubrey, Chief Executive of IP Group, said: "IP Group has been with Oxford Nanopore from day one and has actively supported the Company in a number of ways since then in addition to providing capital. We are delighted to see Oxford Nanopore take the next steps on its journey."

The person responsible for arranging the release of this announcement on behalf of the Company is Alan Aubrey, Chief Executive of IP Group.

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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.

Group holdings in portfolio companies reflect the undiluted beneficial equity interest excluding debt, unless otherwise explicitly stated.

Important Information

This announcement is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, the Republic of South Africa, Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Neither this announcement shall form the basis of or constitute any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any Shares or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or commitment therefor.

In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), except pursuant to an available exemption from, or in a transaction not subject to, the registration requirements under the Securities Act. The Shares have not been, and will not be, registered under the Securities Act and there will be no public offer of the Shares in the United States.

ENDS