PPG.L Regulatory News (PPG)

29 June 2011

IPSO Ventures plc

("IPSO" or the "Company")

Result of General Meeting

The Board of IPSO is pleased to announce that at the Company's general meeting held earlier today all resolutions were passed.

As a result the placing of 19,500,000 new ordinary shares in the Company (the "Placing Shares") at 1 pence per Placing Share raising gross proceeds of £195,000 for the Company (the "Placing") has been authorised by shareholders subject to completion and admission of the Company's enlarged share capital following the Placing to trading on AIM ("Admission"). Further details of the Placing are set out in the circular dated 13 June 2011 and sent to shareholders of IPSO (the "Circular").

The Board of IPSO announced on 24 June 2011 that Cedar Assets Group Limited ("Cedar") had acquired 4,158,233 ordinary shares in the Company representing 25.29 per cent. of the existing issued share capital of the Company and the Board of IPSO were notified on 24 June 2011 that Cedar had lodged a proxy voting against all the resolutions to be proposed at the general meeting. No valid proxy was however received in respect of the ordinary shares in IPSO acquired by Cedar.

As previously announced by IPSO, Cedar's advisers have informed the Board of IPSO that they were considering making funding proposals to IPSO. Simon Hunt, the Company's Executive Chairman and independent director for the purposes of the Placing, received an indicative proposal from Cedar's advisers on 28 June 2011 which the Board are considering.

In light of the above developments, the Board of IPSO have resolved to delay the implementation of the Placing and Admission until 8 July 2011 which will allow the Board to consider whether Cedar's indicative proposal is in the best interests of shareholders.

Further announcements will be made in due course.

Further information, please contact:

Company description

IPSO Ventures plc is a business creator and active investor in new technologies, principally in the renewable energy and healthcare sector. Its experienced management team focuses on adding commercial value to enable young companies to move forward rapidly.