9th May 2006 07:01
IP Group PLC09 May 2006 For immediate release 9 May 2006 IP Group plc ("IP Group" or the "Company") Proposed move to the Official List from AIM And Notice of Extraordinary General Meeting ("EGM") IP Group plc, (AIM: IPO), the intellectual property company, announces todaythat its Board intends to apply for admission of the Company's ordinary sharesof 2p each ("Ordinary Shares") to the Official List of the UK Listing Authority("Official List") and to be traded on London Stock Exchange plc's ("London StockExchange") market for listed securities ("Admission") and to apply to LondonStock Exchange for the cancellation of trading of its Ordinary Shares on the AIMmarket of London Stock Exchange ("AIM"). Admission is conditional on approval by the UK Listing Authority and LondonStock Exchange respectively and approval is expected before the end of June 2006with Admission expected soon after. Further details of the expected admissiondate will be announced in due course. The Board believes that joining the Official List will benefit IP Group in anumber of ways, including both providing the Company with the ability to attracta wider range of shareholders and raising IP Group's profile domestically andinternationally. IP Group has appointed KBC Peel Hunt Ltd as its sponsor for the Admission andjoint broker along with Lehman Brothers International (Europe). A notice convening an EGM of holders of Ordinary Shares has today been sent toShareholders for the purpose of: 1. authorising the Directors of the Company (the "Directors") to apply for the cancellation of trading on AIM; and 2. empowering the Directors to allot Ordinary Shares upon the exercise of options granted by the Company up to an aggregate nominal amount of £130,957.30. The EGM is to be held at 11 a.m. on 1 June 2006 at Warwick Court, 5 PaternosterSquare, London EC4M 7BP. For further information about IP Group plc please contact: IP Group plc 020 7489 5200Alan Aubrey, Chief Executive OfficerMagnus Goodlad, Executive Director KBC Peel Hunt Ltd 020 7418 8900Megan Macintyre Buchanan Communications 020 7466 5000Mark Court, Tim Anderson, Mary-Jane Johnson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ip Group