Result of General Meeting

RNS Number : 5706U
IP Group PLC
25 November 2019
 

FOR RELEASE ON

25 November 2019

 

IP Group plc - Results of General Meeting

 

IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), the developer of intellectual property-based businesses, announces that at its General Meeting held earlier today, all of the resolutions proposed were duly passed by the appropriate majority on a poll.

 

The reduction of capital remains subject to the court's approval and a directions hearing is scheduled for 5 December 2019. On the basis that the court is satisfied that the application should proceed, a second hearing will be held on 17 December 2019 to confirm the reduction of capital.

A further announcement will be made in due course.

IP Group plc General Meeting Poll Results

 

 RESOLUTION

VOTES
FOR

%

VOTES
AGAINST

%

VOTES
TOTAL

% of ISC VOTED

VOTES
WITHHELD

1. To reduce the share premium account of the Company by £584,955,054.58

876,428,505

100.00

829

0.00

876,429,334

82.75%

21,011

2. To capitalise the merger reserve of the Company by £372,600,000.00 (by way of the allotment, issue and cancellation of a new class of shares)

876,428,505

100.00

829

0.00

876,429,334

82.75%

21,011

3. To amend the Company's articles of association

876,422,051

100.00

5,829

0.00

876,427,880

82.75%

22,465

 

 

 

 

For more information, please contact:

 

IP Group plc

www.ipgroupplc.com

Angela Leach, Company Secretary

+44 (0) 20 7444 0050

Liz Vaughan-Adams, Communications

+44 (0) 20 7444 0062

+44 (0) 7979 853 802

 

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 approximately 100 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.

 

Ends

 

 


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