Last checked at 25 Nov 2019 13:59
FOR RELEASE ON | 25 November 2019 |
IP Group plc - Results of General Meeting
IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), the developer of intellectual property-based businesses, announces that at its General Meeting held earlier today, all of the resolutions proposed were duly passed by the appropriate majority on a poll.
The reduction of capital remains subject to the court's approval and a directions hearing is scheduled for 5 December 2019. On the basis that the court is satisfied that the application should proceed, a second hearing will be held on 17 December 2019 to confirm the reduction of capital.
A further announcement will be made in due course.
IP Group plc General Meeting Poll Results
RESOLUTION | VOTESFOR | % | VOTESAGAINST | % | VOTESTOTAL | % of ISC VOTED | VOTESWITHHELD |
1. To reduce the share premium account of the Company by £584,955,054.58 | 876,428,505 | 100.00 | 829 | 0.00 | 876,429,334 | 82.75% | 21,011 |
2. To capitalise the merger reserve of the Company by £372,600,000.00 (by way of the allotment, issue and cancellation of a new class of shares) | 876,428,505 | 100.00 | 829 | 0.00 | 876,429,334 | 82.75% | 21,011 |
3. To amend the Company's articles of association | 876,422,051 | 100.00 | 5,829 | 0.00 | 876,427,880 | 82.75% | 22,465 |
For more information, please contact:
IP Group plc | www.ipgroupplc.com |
Angela Leach, Company Secretary | +44 (0) 20 7444 0050 |
Liz Vaughan-Adams, Communications | +44 (0) 20 7444 0062 +44 (0) 7979 853 802 |
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.
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