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 |
% |
VOTES |
% |
VOTES |
% of ISC VOTED |
VOTES |
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 |
|
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