25 Mar 2011 07:00
Embargoed for release at 07.00 hours 25 March 2011
Trading update
IPSO Ventures plc (AIM: IPS) ("IPSO", the "Company"), the technology commercialisation business, is today providing an update on its current financial position.
At the time of the Company's interim results announcement on 5 January 2011 the Board stated that they were taking action to sell certain of the Company's portfolio assets to provide funding for the future.Whilst the Board are still working to sell those assets the progress is slower than the Board had anticipated. As a consequence the Board has decided, in parallel with possible asset sales, to look at other ways of raising additional finance which is likely to include an equity issue at a significant discount to the current share price.
Further announcements will be made as appropriate.
Further information, please contact:
IPSO Ventures plc Simon Hunt, Executive Chairman Nick Rodgers, Chief Executive Officer
| Tel: 020 7921 2990 simon@ipsoventures.com nick@ipsoventures.com www.ipsoventures.com
|
Allenby Capital Limited (Nominated adviser and broker) Nick Naylor Nick Athanas
| Tel: 020 3328 5656
|
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.