30th Jan 2008 07:01
IP Group PLC30 January 2008 30 January 2008 MODERN WASTE APPOINTS TWO KEY NON-EXECUTIVE DIRECTORS IP Group plc (LSE: IPO) ("IP Group"), the intellectual propertycommercialisation company, is delighted to note that Modern Waste Ltd ("ModernWaste"), its waste and recycling technology development subsidiary, hasannounced the appointment of two new Non-Executive Directors, Victor Cocker CBE,the founder Chairman of WRAP and former CEO of Severn Trent plc, and MichaelAverill, the former CEO of Shanks Group plc, to its Board with immediate effect. Mr Cocker founded WRAP (Waste & Resources Action Programme), the not-for-profitwaste recycling and waste minimisation company, following the recommendation ofa Government Waste Strategy. He announced his retirement last October from therole of Chairman of WRAP, which has annual turnover of approximately £80million. He is a Fellow of the Chartered Institution of Water and EnvironmentalManagement and an Honorary Fellow of the Chartered Institution of WastesManagement. Previously, Mr Cocker spent 26 years in the water industry before retiring asChief Executive of Severn Trent plc in 2000. While at Severn Trent, he developedseveral businesses into successful multi-million-pound operations including thewaste and recycling operations that were eventually demerged as Biffa in 2006.He was appointed CBE in 2000 for services to the water industry. Mr Averill spent thirteen years as Group Chief Executive of Shanks Group plc,Europe's third largest independent waste management company. During this period,revenues grew from approximately £100 million to £500 million with a nearfivefold increase in market capitalisation to £650 million. Mr Averill will continue to act in an advisory capacity for Shanks havingstepped down from the CEO role last September. He is also a Non-ExecutiveDirector of TDG plc, a London quoted contracts logistics business, Care UK plc,a high growth company specialising in privatised areas of health care, and WRAP.He is a Fellow of the Chartered Institution of Wastes Management. John Shepherd, Executive Chairman of Modern Waste, said: "Both Victor andMichael are highly respected pioneers in the waste industry and I am delightedto be able to welcome them to the Board of Modern Waste. Their industryexperience and connections will be invaluable to the development of the Company." For further information, please contact: IP Group plc0845 074 2929Alan Aubrey, Chief Executive OfficerLiz Vaughan-Adams (Communications)020 7444 0062/07979853802 Financial DynamicsBen Atwell, Rob Bailhache, Sanjeev Pandya020 7813 3113 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. IP Group has formed long-term partnerships with ten 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), the University ofBath and the University of Glasgow. As at 30 June 2007, 60 spin-out companies had been created among IP Group'suniversity partners. Of those, ten have listed on the AIM market of the LondonStock Exchange, one on PLUS Markets and there have been two trade sales. IPGroup also established three 'Modern-themed' subsidiaries - Modern Biosciences,Modern Water and Modern Waste. Modern Water was the first of these subsidiariesto float on AIM in June 2007. For more information, please visit our website at www.ipgroupplc.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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