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           

+44 (0) 20 7444 0062/+44 (0) 7979 853802

 

Portland

Alex Donaldson

          +44 (0) 7516 729702

 

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.

 

ENDS

 

 

 

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