11th May 2005 10:22
IP2IPO Group PLC11 May 2005 For immediate release 11 May 2005 IP2IPO GROUP PLC ("IP2IPO" or "the Company") RESULT OF PLACING IP2IPO is pleased to announce the completion of the placing announced earliertoday (the "Placing"). A total of 2,157,837 new ordinary shares of 10 pence each(the "Placing Shares") have been placed with institutions at £6.37 per share,raising approximately £13.7 million before expenses. The Placing Sharesrepresent 5 per cent. of the Company's existing issued share capital. The Placing Shares were placed by Lehman Brothers International (Europe), assole bookrunner, and KBC Peel Hunt Ltd, as joint lead manager and the Placing isconditional on admission of the Placing Shares to trading on the AIM Market ofthe London Stock Exchange plc ("Admission"). Application has been made forAdmission of the Placing Shares and it is expected that Admission will becomeeffective and dealings in the Placing Shares will commence on 16 May 2005. ThePlacing Shares to be allotted will be credited as fully paid and will rank paripassu in all respects with the Company's existing ordinary shares of 10p each,including the right to receive all dividends and distributions declared, made orpaid on or after the date of their allotment. For more information please contact: IP2IPODavid Norwood, 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 LtdSimon Hayes, Megan MacIntyre 020 7418 8900 Notes for editors IP2IPO is an intellectual property (IP) company that specialises incommercialising university technology. The Company was founded in 2001 andlisted on the AIM Market of the London Stock Exchange plc in October 2003.IP2IPO's first partnership was with the University of Oxford. In return for aninvestment of £20 million, IP2IPO has acquired 50 per cent. of the University ofOxford's equity in spin-out companies and technology licenses based onintellectual property created at the Chemistry Department until 2015. InNovember 2003, IP2IPO created a £5 million seed capital fund for investing inspin-out companies across the University of Oxford, not just those originatingwithin the Chemistry Department. In March 2002, IP2IPO entered into a second long-term partnership with theUniversity of Southampton. Under the terms of this partnership, IP2IPO iscommitted to working with the University of Southampton in the identificationand facilitation of spin-out companies from across the University of Southamptonand to investing £5 million in early-stage University of Southampton spin-outcompanies over a four year period in return for equity stakes in thosecompanies. In addition, IP2IPO also received a 20 per cent. stake in SouthamptonAsset Management Limited, a company that has been formed to hold theUniversity's equity stakes in its spin-out companies. The partnership has a termof at least 25 years. IP2IPO entered into its third long-term partnership in May 2003 with King'sCollege London. IP2IPO will work with King's College London to help identify andprogress commercialisation opportunities as well as invest £5 million in seedcapital in spin-out companies from King's College London over a five year periodin return for equity stakes in those companies. In addition, IP2IPO will receive20 per cent. of King's College London's equity in spin-out companies andtechnology licenses. The partnership has a term of 25 years. In October 2003, IP2IPO announced a fourth partnership with the Centre for NovelAgricultural Products ("CNAP"), based at the University of York. CNAP is aflagship research centre that specialises in plant and microbial gene discovery.Under the terms of the partnership a new company, Amaethon Limited, has beencreated which has the right to commercialise CNAP's IP for 25 years. IP2IPO hasinvested £1.15m in Amaethon Limited in return for a 40 per cent. equity stake inAmaethon Limited (the remaining equity being owned by the University of York)and will also invest in the spin-out companies based on CNAP's IP which AmaethonLimited creates. In June 2004, IP2IPO acquired Top Technology Ventures Limited, an investmentadviser to early stage technology funds. This combines IP2IPO's expertise in thecreation of new ventures based on world leading university IP with TopTechnology's focus on making early stage venture capital investments. In January 2005, IP2IPO acquired Techtran, a company set up in 2002 tocommercialise university intellectual property under a long-term technologycommercialisation contract with the University of Leeds. Under the terms of thecontract Techtran receives a significant (30 per cent.) interest in spin-outcompanies created and technology licences negotiated, in return for theprovision of technology transfer services to the University. To date, 4 spin-out companies from the IP2IPO portfolio have listed on the AIMMarket of the London Stock Exchange plc: Offshore Hydrocarbon Mapping plc,Synairgen plc, VASTox plc and Proximagen Neuroscience plc. For more information please visit www.ip2ipo.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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