Directorate Change

RNS Number : 7967H

IP Group PLC

03 June 2011

 



 

FOR RELEASE ON

3 JUNE 2011

APPOINTMENT OF GREG SMITH AS CHIEF FINANCIAL OFFICER

IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the Group"), the developer of intellectual property based businesses, announces that it has appointed Greg Smith to the Board as Chief Financial Officer with immediate effect. 

Mr Smith has over ten years of experience as a finance professional and has held the role of Group Financial Controller since joining the Group in January 2008.

Mr Smith joined the Group from Tarchon Capital Management, a London-based fund of hedge funds manager, where he had day to day responsibility for building and managing the operations and accounting team as well as external operational due diligence on investee hedge funds. Prior to Tarchon, he spent four years in KPMG's London financial services practice working with asset management, insurance and banking clients. Mr Smith is a Chartered Accountant and holds a degree in Mathematics from the University of Warwick.

The Company confirms that there is no additional information which is required to be disclosed under Rule 9.6.13 of the Listing Rules of the UK Listing Authority.

For more information, please contact:

IP Group plc
Alan Aubrey, Chief Executive Officer	[phone]
Greg Smith, Chief Financial Officer	[phone]
Liz Vaughan-Adams, Communications	[phone] / 07979 853 802
Financial Dynamics
Ben Atwell, John Dineen	[phone]

Notes for editors

About IP Group

IP Group is an intellectual property ("IP") commercialisation company that specialises in commercialising university technology. Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006. It has made two acquisitions to date - Techtran, a company set up to commercialise university intellectual property under a long term contract with the University of Leeds, in 2005 and Top Technology Ventures, an investment adviser to early stage technology venture capital funds, in 2004.

IP Group has formed long-term partnerships with ten universities - the University of Oxford, King's College London, CNAP/University of York, the University of Leeds, the University of Bristol, the University of Surrey, the University of Southampton, Queen Mary (University of London), the University of Bath and the University of Glasgow.

The Company's portfolio is diverse with exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, thirteen portfolio companies have listed on the AIM market of the London Stock Exchange, one on PLUS Markets and there have been five trade sales.

For more information, please visit our website at www.ipgroupplc.com.

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