25th Nov 2019 13:59
FOR RELEASE ON | 25 November 2019 |
IP Group plc - Results of General Meeting
IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), the developer of intellectual property-based businesses, announces that at its General Meeting held earlier today, all of the resolutions proposed were duly passed by the appropriate majority on a poll.
The reduction of capital remains subject to the court's approval and a directions hearing is scheduled for 5 December 2019. On the basis that the court is satisfied that the application should proceed, a second hearing will be held on 17 December 2019 to confirm the reduction of capital.
A further announcement will be made in due course.
IP Group plc General Meeting Poll Results
RESOLUTION | VOTESFOR | % | VOTESAGAINST | % | VOTESTOTAL | % of ISC VOTED | VOTESWITHHELD |
1. To reduce the share premium account of the Company by £584,955,054.58 | 876,428,505 | 100.00 | 829 | 0.00 | 876,429,334 | 82.75% | 21,011 |
2. To capitalise the merger reserve of the Company by £372,600,000.00 (by way of the allotment, issue and cancellation of a new class of shares) | 876,428,505 | 100.00 | 829 | 0.00 | 876,429,334 | 82.75% | 21,011 |
3. To amend the Company's articles of association | 876,422,051 | 100.00 | 5,829 | 0.00 | 876,427,880 | 82.75% | 22,465 |
For more information, please contact:
IP Group plc | www.ipgroupplc.com |
Angela Leach, Company Secretary | +44 (0) 20 7444 0050 |
Liz Vaughan-Adams, Communications | +44 (0) 20 7444 0062 +44 (0) 7979 853 802 |
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 approximately 100 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
Related Shares:
Ip Group