FOR RELEASE ON |
16 April 2013 |
IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the Group"), the developer of intellectual property based businesses, announces that it has today issued 9,495,195 new ordinary shares of 2p each (the "Shares") following the vesting of conditional awards of shares made under the Company's Long Term Incentive Scheme (the "Scheme") in October 2010 (the "2010 Awards"). As described in the Group's 2012 Annual Report and Accounts, 81% of the 2010 Awards vested.
As a result, the Company today received notification from the following Directors/Persons Discharging Managerial Responsibilities in relation to the acquisition of Shares under the Scheme and subsequent sale, at an aggregate price of 145p per share, as set out in the table below.
|
|
|
|
Resultant beneficial interest |
|
Director/PDMR |
Position |
Shares vested |
Shares sold |
Shares |
% |
Alan Aubrey1
|
Chief Executive Officer |
2,071,023
|
1,146,104
|
2,237,089
|
0.6%
|
Alison Fielding2
|
Chief Operating Officer |
1,693,636
|
1,137,258
|
1,051,008
|
0.3%
|
Mike Townend2
|
Chief Investment Officer |
1,693,636
|
1,087,258
|
910,718
|
0.2%
|
Charles Winward1 |
Executive Director |
574,364 |
317,853 |
262,446 |
0.1% |
Greg Smith1 |
Chief Financial Officer |
466,364 |
258,086 |
227,685 |
0.1% |
Angela Leach1 |
Company Secretary |
466,364 |
258,086 |
215,823 |
0.1% |
1 Indicates that Shares were sold in such amounts so as to satisfy income tax, national insurance and other liabilities arising through the vesting of the 2010 Awards.
2 Indicates that Shares were sold over and above tax and national insurance liabilities.
An application has been made to the Financial Conduct Authority for admission of the Shares to the premium listing segment of the Official List maintained by the UK Listing Authority and to the London Stock Exchange. It is expected that admission will take place on 17 April.
Following admission the Company will have 375,258,859 ordinary shares in issue.
For more information, please contact:
IP Group plc |
|
Alan Aubrey, Chief Executive Officer |
+44 (0) 20 7444 0050 |
Liz Vaughan-Adams, Communications |
+44 (0) 20 7444 0062 / +44 (0) 7979 853 802 |
FTI Consulting |
|
Ben Atwell, John Dineen |
+44 (0) 20 7831 3113 |
Notes for editors
About IP Group
IP Group is a leading UK intellectual property ("IP") commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.
The Company's portfolio comprises holdings in over 60 companies including Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.
The portfolio includes early stage to mature businesses and has exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, fifteen of the portfolio companies IP Group has backed have listed on the AIM market of the London Stock Exchange and one on ISDX.
Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006.
For more information, please visit our website at www.ipgroupplc.com.
Ends