25th Apr 2006 15:20
IP2IPO Group PLC25 April 2006 For immediate release 25 April 2006 IP2IPO GROUP PLC ("the Company") AGM Statement The Company announces that all the proposed resolutions were approved at itsAnnual General Meeting this afternoon. In particular, the Company's sharecapital subdivision and its change of name to IP Group plc will become effectiveon 26 April 2006. With regards the 5 for 1 share capital subdivision, the record date for thechange is 25 April 2006. For shareholders with Crest accounts, the new shareswill be credited to their account on 26 April 2006. Shareholders holding sharecertificates should expect to have their new certificates posted on or around 5May 2006. Following the share subdivision, there will be 229,053,905 Ordinary Shares of 2peach ("Ordinary Shares") in issue. Application has been made for these OrdinaryShares to be admitted to trading on AIM: such admission is expected to takeplace on 26 April 2006. For further information about IP2IPO Group please contact: IP2IPO Group 020 7489 5200 Alan Aubrey, Chief Executive Officer KBC Peel Hunt Ltd 020 7418 8900 Megan McIntyre Buchanan Communications 020 7466 5000 Mark Court, Tim Anderson, Mary-Jane Johnson About IP2IPO Group plc IP2IPO Group is an intellectual property (IP) company that specialises incommercialising university technology. The Company was founded in 2001 andlisted on the AIM Market of the London Stock Exchange plc in October 2003.IP2IPO's first partnership was with the University of Oxford. In return for aninvestment of £20 million, IP2IPO Group has acquired 50 per cent of theUniversity of Oxford's equity in spin-out companies and technology licensesbased on intellectual property created at the Chemistry Department until 2015.In November 2003, IP2IPO Group created a £5 million seed capital fund forinvesting in spin-out companies across the University of Oxford, not just thoseoriginating within the Chemistry Department. In March 2002, IP2IPO Group entered into a second long-term partnership with theUniversity of Southampton. Under the terms of this partnership, IP2IPO Group iscommitted to working with the University of Southampton in the identificationand facilitation of spin-out companies from across the University of Southamptonand to investing £5 million in early-stage University of Southampton spin-outcompanies over a four year period in return for equity stakes in thosecompanies. In addition, IP2IPO Group also received a 20 per cent stake inSouthampton Asset Management Limited, a company that has been formed to hold theUniversity's equity stakes in its spin-out companies. The partnership has a termof at least 25 years. IP2IPO Group entered into its third long-term partnership in May 2003 withKing's College London. IP2IPO Group works with King's College London to helpidentify and progress commercialisation opportunities as well as invest £5million in seed capital in spin-out companies from King's College London over afive year period in return for equity stakes in those companies. In addition,IP2IPO Group receives 20 per cent of King's College London's equity in spin-outcompanies and technology licenses. The partnership has a term of 25 years. In October 2003, IP2IPO Group announced a fourth partnership with the Centre forNovel Agricultural Products ("CNAP"), based at the University of York. CNAP is aflagship research centre that specialises in plant and microbial gene discovery.Under the terms of the partnership a new company, Amaethon Limited, has beencreated which has the right to commercialise CNAP's IP for 25 years. IP2IPOGroup has invested £1.15m in Amaethon Limited in return for a 40 per cent.equity stake in Amaethon Limited (the remaining equity being owned by theUniversity of York) and will also invest in the spin-out companies based onCNAP's IP which Amaethon Limited creates. In June 2004, IP2IPO Group acquired Top Technology Ventures Limited, aninvestment adviser to early stage technology funds. This combines IP2IPO Group'sexpertise in the creation of new ventures based on world leading university IPwith Top Technology's focus on making early stage venture capital investments. In January 2005, IP2IPO Group acquired Techtran, a company set up in 2002 tocommercialise university intellectual property under a long-term technologycommercialisation contract with the University of Leeds. Under the terms of thecontract Techtran receives a significant (30 per cent.) interest in spin-outcompanies created and technology licences negotiated, in return for theprovision of technology transfer services to the University. In May 2005, IP2IPO Group announced the launch of Modern Biosciences, which willin-license life science intellectual property created by medical researchers atuniversities with which IP2IPO already has partnerships, other universities inthe UK and similar academic and charitable research institutions. ModernBiosciences' objective is to further develop the intellectual property which itin-licenses with a view to creating substantial value either by subsequentlylicensing these development programmes to the pharmaceutical industry or via thecreation of new ventures. In December 2005, IP2IPO Group entered into its sixth long-term partnership withthe University of Bristol. IP2IPO Group will work with the University of Bristolto help identify and progress commercialisation opportunities as well as investan initial £5 million in seed capital in spin-out companies from the Universityof Bristol over a five year period in return for equity stakes in thosecompanies. In return, IP2IPO Group will receive 13.3 per cent of equity spin-outcompanies from the University of Bristol at the time that the spin-out companyis established prior to investment. The partnership has a term of 25 years. In February 2006, IP2IPO Group entered into its seventh long-term partnershipwith the University of Surrey. IP2IPO Group will work with the University ofSurrey to help identify and progress commercialisation opportunities as well asinvest an initial fund of up to £5 million in seed capital in spin-out companiesfrom the University of Surrey in return for equity stakes in those companies. Inaddition, IP2IPO Group will receive 13.3% per cent of in spin-out companies atthe time that the company is established prior to investment. The partnershiphas a term of 25 years. In March 2006, IP2IPO Group entered into an exclusive long-term partnership withthe University of York. The partnership is in addition to IP2IPO Group's currentpartnership with the Centre for Novel Agricultural Products, IP2IPO Group willwork with the University of York to help identify and progress commercialisationopportunities as well as invest an initial fund of £5 million in seed capital inspin-out companies from the University of York in return for equity stakes inthose companies. In addition, IP2IPO Group will receive 25% of the equity in anyspin-out company from the University at the time that the company isestablished, prior to investment, if IP2IPO Group invests in the company fromthe fund and 15% of the equity if it does not invest from the Fund. IP2IPO Groupwill also receive 10% of any income which the University of York receives fromlicencing during the lifetime of the partnership. The partnership has a term of25 years. To date, 6 spin-out companies from the IP2IPO portfolio have listed on the AIMMarket of London Stock Exchange plc: Offshore Hydrocarbon Mapping plc, Synairgenplc, VASTox plc, Proximagen Neuroscience plc, GETECH Group plc and SyntopixGroup plc. There has been one trade sale: Toumaz Technology Limited was sold toNanoscience Inc. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ip Group