Directorate Change

RNS Number : 1686Q

IP Group PLC

14 October 2011

 



PRESS RELEASE

14 OCTOBER 2011

IP Group plc - Appointment of Mike Humphrey as NED

IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), the developer of intellectual property based businesses, is pleased to announce the appointment of Mike Humphrey, Group Chief Executive of Croda International plc ("Croda"), to the Board as Non-executive Director with immediate effect.

Mr Humphrey was appointed to the Croda Board in 1995 and became Group Chief Executive at the beginning of 1999. Since becoming Chief Executive, he has presided over a near ninefold rise in share price and a near eightfold rise in profit before tax. He joined Croda in 1969 as a management trainee and was appointed Managing Director of Croda Singapore in 1988, Croda Application Chemicals in 1990 and Croda Chemicals in 1991.

Croda is a world leader in natural based speciality chemicals which are sold to virtually every type of industry. The company has approximately 3400 employees, working in 34 countries, and recorded sales of £1bn in 2010.

IP Group also announces today that it has promoted Charles Winward, Managing Director of Top Technology Ventures Limited, IP Group's venture capital fund management subsidiary, to the Board as an executive director. Mr Winward, who has been with the Group since 2007, is also a non-executive director of Tracsis plc, an IP Group portfolio company which develops performance and planning optimisation software for the transport industry which is quoted on AIM. His appointment is also with immediate effect.

Alan Aubrey, Chief Executive of IP Group, said: "I am delighted to welcome Mike to the Board. It is testament not only to the Group's achievements to date but also to its future potential that we were able to attract such a high calibre individual as Mike. He has an impressive track record of building businesses and of creating value for shareholders and is one of the most highly regarded executives in the FTSE 250. We are proud that Mike has chosen IP Group as his first non-executive role and we are all looking forward to working with him. I would also like to extend a warm welcome to Charles to the Board. Charles manages our regulated activities and his expertise in this area will be of great benefit to the Board."

Mike Humphrey said: "I am pleased to be joining the Board of IP Group. I am a strong believer in investing in innovation and IP Group has created a valuable portfolio of holdings in some of the UK's most exciting new companies. I genuinely think IP Group is a really interesting company with a terrific future."

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	www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer	[phone]
Liz Vaughan-Adams, Communications	[phone]/07979 853802 [e-mail]
Financial Dynamics
Ben Atwell, John Dineen	[phone]

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, thirteen of the portfolio companies IP Group has backed have listed on the AIM market of the London Stock Exchange and one on PLUS Markets.

Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006. The Group now has long-term partnerships with twelve core universities including those under its commercialisation agreement with Fusion IP plc.

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

ENDS

 

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