19th Sep 2006 18:08
IP Group PLC19 September 2006 IP Group plc ("IP Group" or the "Company") Director dealings IP Group plc (LSE: IPO), the intellectual property commercialisation company, ispleased to announce that the Company's Chairman, David Norwood, has bought afurther 150,000 ordinary shares of 2p each ("Ordinary Shares") in the Company ata price of £1.35 per share, representing 0.06% of the Company's current issuedshare capital ("the purchase of ordinary shares"). Additionally, Mr Norwood has today exercised unapproved share options over4,750,000 Ordinary Shares in the Company ("the option exercise"). In order tosatisfy the cost of the exercise price and associated income tax liabilitiesarising as a result of the option exercise, Mr Norwood sold 2,975,508 OrdinaryShares, representing 1.21% of the Company's current issued share capital, at aprice of £1.35 per Ordinary Share. Following both the option exercise and the purchase of ordinary shares, MrNorwood has increased his beneficial interest in the Company from 2,855,680Ordinary Shares to 4,780,172 Ordinary Shares, representing 1.94% of theCompany's current issued share capital. Application will be made for 4,750,000 Ordinary Shares (fully paid ranking paripassu with the existing Ordinary Shares) to be admitted to the Official List andto be traded on London Stock Exchange plc's market for listed securities("Admission"). These Ordinary Shares have been issued following the exercise of4,750,000 unapproved share options over Ordinary Shares in the Company. It is expected that Admission will become effective and that dealings willcommence in the 4,750,000 Ordinary Shares on 26 September 2006. FollowingAdmission the issued share capital of the Company will be 246,554,555 OrdinaryShares ("current issued share capital"). For more information, please contact: IP Group plc 020 7489 5200Alan Aubrey, Chief Executive OfficerLiz Vaughan-Adams (communications) 020 7489 5206/07979853802 Buchanan Communications 020 7466 5000Mark Court, Tim Anderson, Mary-Jane Johnson Notes for editors About IP Group IP Group Plc is an intellectual property (IP) commercialisation company thatspecialises in commercialising university technology. Founded in 2001, IP Grouplisted on AiM in October 2003 and moved to the Official List in June 2006. Ithas made two acquisitions to date - Techtran, a company set up to commercialiseuniversity intellectual property under a long term contract with the Universityof Leeds, in 2005 and Top Technology Ventures, an investment adviser to earlystage technology venture capital funds, in 2004. The group has formed long-term partnerships with nine universities - theUniversity of Oxford, King's College London, CNAP/University of York, theUniversity of Leeds, the University of Bristol, the University of Surrey, theUniversity of Southampton, Queen Mary, University of London and the Universityof Bath. As at 30 June 2006, 44 spin-out companies had been created among the group'suniversity partners. Of those, eight have listed on the AiM market of the LondonStock Exchange and there have been two trade sales. For more information, please visit our website at www.ipgroupplc.com. ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ip Group