Portfolio company Xeros announces £40m funding

RNS Number : 4602F

IP Group PLC

12 November 2015

 



 

FOR RELEASE ON

12 November 2015

IP Group plc - Portfolio company Xeros Technology Group plc announces £40m
funding round

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, is pleased to note that Xeros Technology Group plc ("Xeros" or "the Company") has raised, subject to certain conditions, approximately £40 million (before expenses) by way of a placing of new ordinary shares with both new and existing shareholders at a price of 225 pence per share.

The proceeds of the placing will be used to build on Xeros' progress in its commercial laundry business and to capitalise on opportunities for its polymer bead innovation in other applications, including in the leather processing and domestic laundry markets.

The non-pre-emptive placing will be subject to shareholder approval.

IP Group has agreed to subscribe for 2,108,444 placing shares, representing £4.7 million. Following completion of the placing, IP Group will be beneficially interested in 9,874,240 ordinary shares in the Company, representing approximately 11.8% of the enlarged issued share capital.

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer Greg Smith, Chief Financial Officer Liz Vaughan-Adams, Communications	[phone] [phone]/[phone]
FTI Consulting
James Melville-Ross/Simon Conway/ Victoria Foster Mitchell	[phone]

Notes for editors

About IP Group

IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiary IP Capital), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in over 90 early-stage to mature businesses across four main sectors -- Biotech, Cleantech, Healthcare and Technology. The Company is listed on the Main Market of the London Stock Exchange under the code IPO.

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

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