20 Jan 2009 07:00
Embargoed: 0700hrs, 20 January 2009
Imperial Innovations Group plc ("Imperial Innovations" or the "Company") Transfer of shares to Imperial College
Imperial Innovations (AIM: IVO), a leading technology transfer and commercialisation company, announces today that it has transferred to its majority shareholder, Imperial College of Science, Technology and Medicine (the "College"), 1,791,229 shares in Ceres Power Holdings plc ("Ceres Power") (AIM: CWR) (the "transfer").
The transfer is in consideration of the College waiving its right under the Technology Pipeline Agreement to receive from the Company a 35% share of the net proceeds of sale by the Company of any of the 5,312,505 Ceres Power shares which the Company held on 31 July 2007. Following the transfer, the College becomes the owner of the transferred shares and Imperial Innovations retains a holding of 2,386,276 Ceres Power shares (having held 4,177,505 Ceres Power shares immediately prior to the transfer) and Imperial Innovations is no longer liable to pay to the College any revenue share in respect of any Ceres Power shares in the future.
There is no effect on the net assets of Imperial Innovations as a result of the transfer and there is no change in the combined shareholding of Imperial Innovations and the College in the shares in Ceres Power Holdings plc as a result of the transfer.
For further information please contact:
Imperial Innovations
Susan Searle, Chief Executive
Lucy Ahfong, Marketing Communications Executive
Tel. +44 (0)20 7594 6644M:CommunicationsBen Simons / Harriet TottyTel. +44 (0)20 7153 1530
JPMorgan Cazenove (NOMAD to Imperial Innovations)
Steve BaldwinTel. +44(0)20 7588 2828About Imperial Innovations
Imperial Innovations is one of the UK's leading technology commercialisation and investment companies. Founded in 1986, its ordinary shares were admitted to trading on the AIM Market of London Stock Exchange plc in July 2006, raising £ 26 million. It raised a further £30 million in November 2007 by means of a placing of new ordinary shares with investors.
Imperial Innovations' integrated commercialisation approach encompasses the identification of ideas, the protection of intellectual property, the development and licensing of technology and the formation, incubation and funding through investment of technology businesses. Based at Imperial College London, Imperial Innovations commercialises a wide range of technologies primarily within the areas of healthcare, energy and the environment.
www.imperialinnovations.co.uk
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