Result of AGM - Replacement

IP Group PLC

12 June 2024

 

FOR RELEASE ON

12 June 2024

IP Group plc - Results of Annual General Meeting

The following amendment has been made to the 'Result of Annual General Meeting' announcement released on 12 June 2024 at 14:39 under RNS No 1922S.

The Board is pleased that Resolution 7 was passed by a significant majority of the shareholders who voted, but notes the votes against this resolution. In the coming months, we will engage with our shareholders to try to understand the reasons behind this vote, and in accordance with the UK Corporate Governance Code, we will publish an update on that engagement within six months of the AGM.

All other details remain unchanged.

The full amended text is shown below.

The Annual General Meeting ("AGM") of IP Group plc was held earlier today. All of the Resolutions proposed at the AGM were passed by the appropriate majority on a poll.

IP Group plc Annual General Meeting Poll Results

	RESOLUTION	VOTES FOR	%	VOTES AGAINST	%	VOTES TOTAL	% of ISC VOTED	VOTES WITHHELD
1	To receive the Directors' Report, the Audited Statement of Accounts and Auditor's Report of the Company for the financial year ended 31 December 2023.	639,543,600	99.99%	56,711	0.01%	639,600,311	62.14%	86,826,847
2	To approve the Directors' Remuneration Report for the year ended 31 December 2023.	599,931,114	82.62%	126,245,469	17.38%	726,176,583	70.55%	250,575
3	To re-appoint KPMG LLP as auditor of the Company.	620,540,602	96.17%	24,721,870	3.83%	645,262,472	62.69%	81,164,686
4	To authorise the Directors to fix the remuneration of KPMG LLP as auditor of the Company.	706,913,382	97.32%	19,496,630	2.68%	726,410,012	70.57%	17,146
5	To re-elect Mr David Baynes as a Director of the Company.	724,086,322	99.71%	2,100,274	0.29%	726,186,596	70.55%	240,562
6	To re-elect Dr Caroline Brown as a Director of the Company.	638,190,625	98.90%	7,072,475	1.10%	645,263,100	62.69%	81,164,058
7	To re-elect Mr Heejae Chae as a Director of the Company.	505,165,832	78.29%	140,073,563	21.71%	645,239,395	62.69%	81,187,763
8	To re-elect Sir Douglas Flint as a Director of the Company.	631,952,107	98.77%	7,899,949	1.23%	639,852,056	62.16%	86,575,102
9	To re-elect Ms Aedhmar Hynes as a Director of the Company.	637,489,586	98.80%	7,773,514	1.20%	645,263,100	62.69%	81,164,058
10	To re-elect Ms Anita Kidgell as a Director of the Company.	609,581,219	98.95%	6,491,184	1.05%	616,072,403	59.85%	110,354,755
11	To re-elect Mr Greg Smith as a Director of the Company.	724,213,431	99.73%	1,974,088	0.27%	726,187,519	70.55%	239,639
12	To authorise the Directors to exercise all the powers of the Company to allot shares and grant rights to subscribe for or to convert any security into shares in the Company subject to the limits set out in the AGM notice.	718,924,490	98.97%	7,491,806	1.03%	726,416,296	70.57%	10,862
13	To empower the Directors to allot equity securities for cash, or sell treasury shares, dis-applying statutory pre-emption rights subject to the limits set out in the AGM notice.	628,975,287	86.81%	95,528,700	13.19%	724,503,987	70.39%	1,923,171
14	In addition to the authority granted under Resolution 13, to empower the Directors to allot equity securities in connection with an acquisition or other capital investment as if section 561(1) of the Companies Act 2006 ("Act") did not apply to any such allotment, subject to the limits set out in the AGM notice.	610,301,817	84.24%	114,199,377	15.76%	724,501,194	70.39%	1,925,964
15	To authorise the Company and its subsidiaries to incur political expenditure (as defined in section 365 of the Act) not exceeding £50,000 in total.	704,218,957	96.94%	22,199,270	3.06%	726,418,227	70.57%	8,931
16	To authorise the Company to make market purchases (as defined in section 693(4) of the Act) of the Company's ordinary shares, subject to the limits set out in the AGM notice.	721,034,126	99.28%	5,248,159	0.72%	726,282,285	70.56%	144,873
17	To enable a general meeting other than an Annual General Meeting to be called on not less than 14 clear days' notice.	718,259,364	98.88%	8,159,929	1.12%	726,419,293	70.57%	7,865
18	To approve the terms of the new IP Group 2024 Sharesave Plan.	719,004,534	99.02%	7,106,845	0.98%	726,111,379	70.54%	315,779

The Board is pleased that Resolution 7 was passed by a significant majority of the shareholders who voted, but notes the votes against this resolution. In the coming months, we will engage with our shareholders to try to understand the reasons behind this vote, and in accordance with the UK Corporate Governance Code, we will publish an update on that engagement within six months of the AGM.

In accordance with Listing Rule 9.6.1, a copy of the Resolutions has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Liz Vaughan-Adams, Communications	[phone]/[phone]

Portland
Alex Donaldson	[phone]

Notes for editors

About IP Group

IP Group accelerates the impact of science for a better future. As the most active UK based, early stage science investor, we develop and support some of the world's most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach. Together we have a strong track record of success, having backed high-profile companies including Oxford Nanopore Technologies plc, First Light Fusion, Hysata, and Oxbotica. IP Group 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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