18th May 2007 15:00
IP Group PLC18 May 2007 IP GROUP'S MODERN WATER SUBSIDIARY ANNOUNCES ITS INTENTION TO FLOAT ON LONDON'S ALTERNATIVE INVESTMENT MARKET (AIM) IP Group plc (LSE: IPO) ("IP Group"), the intellectual propertycommercialisation company, is delighted to announce that Modern Water Limited("Modern Water") has today announced its intention to float on London'sAlternative Investment Market (AIM) by way of a placing. Modern Water was set up to establish and exploit a portfolio of watertechnologies to address the global problems of economic availability of freshwater and the treatment and disposal of waste water. It is one of three IP Group'Modern-themed' subsidiaries and is the first of these subsidiaries to announceits intention to float on the AIM market. The creation of these 'Modern-themed' businesses is part of IP Group's strategyof establishing businesses, run by experienced and specialist management teams,to address particular issues affecting the global economy through the creationand management of a portfolio of intellectual-property based investments. IPGroup's other two 'Modern' subsidiaries are Modern Biosciences, set up toaddress the problem of poor product pipeline within major pharmaceuticalcompanies, and Modern Waste, set up to establish and exploit a portfolio ofinnovative sensing, monitoring and control technologies and apply them to thewaste and recycling markets. The press release issued today by Modern Water follows: Modern Water Limited announces intention to float on the Alternative Investment Market Modern Water Limited ("Modern Water" or "the Group"), a technology based watersolutions company, has announced its intention to float on London's AlternativeInvestment Market (AIM). KBC Peel Hunt Ltd has been appointed as nominatedadvisor and broker to the company. Modern Water has been established to source, develop and deploy technology-basedsolutions to meet the growing demand for the economic availability of freshwater and treatment of waste water. Modern Water's objective is to create valuefor shareholders through both the acquisition of assets through which theGroup's technologies can be deployed to improve the efficiency and reduce theoperating costs of such assets and the licensing and sale of the Group'swater-related technologies to third parties. The Group's initial focus is to continue to invest in its technologies and tosubsequently deploy them across the international fresh water and waste waterindustry with the aim of increasing the economic availability of fresh waterfrom the conversion and use of sea water. The lack of fresh water is rapidly reaching a crisis level with the UNforecasting that by 2025, 5.5 billion people will live in areas classified aswater stressed. With 97.5% of the world's water in seas and oceans, thisresource represents a major opportunity to provide optimal water solutions. Neil McDougall, Executive Chairman of Modern Water, said: "The shortage of fresh water is perceived to be one of the major globalsocio-economic problems facing us in the early part of the 21st century. Theability to provide an efficient and economical answer to this, through theapplication of cost-effective desalination and fresh water substitution, wouldbe a significant break-through for our generation. We believe we have thatanswer." For further information, please contact: Modern WaterNeil McDougall 07740 930 303 HeadLand ConsultancyHoward Lee, Tom Gough 020 7367 5222 www.modernwater.co.uk Notes to editors The Group is initially concentrating on two distinct approaches to the watermarket being: (i) desalination; and (ii) the substitution of fresh water withsea water or recycled water for certain non-potable uses. The Group's strategyis to acquire key stakes in appropriate technologies within these areas and todate has made investments in Surrey Aquatechnology Limited and Poseidon WaterLimited. The Group also has an investment in Cymtox Limited. For further information, please contact: IP Group plc 020 7489 5200Alan Aubrey, Chief Executive OfficerLiz Vaughan-Adams (Communications) 020 7489 5206/07979853802 BuchananTim Anderson, Mary-Jane Johnson, Mark Court 020 7466 5000 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 31 December 2006, 53 spin-out companies had been created among the group'suniversity partners. Of those, eight have listed on the AiM market of the LondonStock Exchange, one on PLUS Markets 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:
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