12th May 2006 07:59
IP Group PLC12 May 2006 12 May 2006 IP GROUP PLC ("IP Group" or "the Company") IP Group, formerly IP2IPO, is pleased to announce the completion of the Placingby Lehman Brothers International (Europe) and KBC Peel Hunt Ltd announcedyesterday. 11,452,650 new ordinary shares of 2 pence each (the "Placing Shares")were placed with institutional investors for cash at 1.47p per Placing Share(the Placing) raising approximately £16.8 million before expenses for theCompany. The proceeds of the Placing will be used primarily to finance the entry intofurther long-term partnerships with leading research universities with which theCompany is already in discussions. The Placing Shares are being placed conditional on admission to trading on theAIM Market of London Stock Exchange plc ("Admission"). Application has been madefor Admission of the Placing Shares and it is expected that Admission willbecome effective and dealings in the Placing Shares will commence on 17 May2006. The Placing Shares to be allotted will be credited as fully paid and willrank pari passu in all respects with the Company's existing ordinary shares of2p each, including the right to receive all dividends and distributionsdeclared, made or paid on or after the date of their allotment. For more information please contact: IP GroupAlan Aubrey, Chief Executive Officer 020 7489 5200 Buchanan CommunicationsTim Anderson, Mark Court 020 7466 5000 Lehman Brothers International (Europe)Stephen Pull, Mark Hutt 020 7102 1000 KBC Peel Hunt LtdMegan MacIntyre 020 7418 8900 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ip Group