10th Mar 2016 14:23
FOR RELEASE ON | 10 March 2016 |
IP Group plc - Disposal of holding in Tracsis plc
IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), the developer of intellectual property-based businesses, is pleased to announce that it has realised its entire holding in portfolio company Tracsis plc.
The Group received net cash proceeds of £13.1m from the sale, bringing total proceeds to date, including dividends, to £14.3m. This represents an Internal Rate of Return of approximately 58% and a multiple of approximately 38 times the Group's investment of £0.4m.
For more information, please contact:
IP Group plc | www.ipgroupplc.com |
Alan Aubrey, Chief Executive OfficerGreg Smith, Chief Financial OfficerLiz Vaughan-Adams, Communications | +44 (0) 20 7444 0050+44 (0) 20 7444 0062/+44 (0) 7979 853802 |
Charlotte Street Partners | |
Andrew Wilson Chris Sibbald | +44 (0) 7810 636995 +44 (0) 7855 955531 |
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 over 90 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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