27th Nov 2007 07:05
IP Group PLC27 November 2007 PRESS RELEASE 27 November 2007 IP GROUP PLC - TRACSIS PLC FIRST DAY DEALINGS ON AIM AFTER SUCCESSFUL PLACING AND ADMISSION IP Group plc (LSE: IPO) ("IP Group"), the intellectual propertycommercialisation company, is pleased to note that today is the first day oftrading on AIM of Ordinary Shares ("Ordinary Shares") in Tracsis plc ("Tracsis"or "the Company"). Tracsis (AIM: TRCS), a spin-out company from the University of Leeds, providesresource optimisation software to major transport companies in the passengerrail and bus industries. The Company has raised £2.0 million, before expenses,by way of a placing with investors at a placing price of 40p per Ordinary Share(the "Placing Price"), valuing the Company at £7.0 million on admission to AIM. Following the placing, IP Group is the registered owner of 3,655,550 OrdinaryShares in Tracsis (worth £1.5 million at the Placing Price), representing 20% ofTracsis' enlarged issued share capital. Tracsis is the eleventh of IP Group's portfolio companies to have floated oneither AIM or PLUS Markets and is the third IP Group portfolio company to haveachieved a flotation this year. Green Chemicals plc floated on PLUS Markets inJanuary while Modern Water Plc floated on AIM in June. For further information, please contact: IP Group plc 0845 074 2929Alan Aubrey, Chief Executive OfficerLiz Vaughan-Adams (Communications) 020 7444 0062/07979853802 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 30 June 2007, 60 spin-out companies had been created among IP Group'suniversity partners. Of those, nine have listed on the AIM market of the LondonStock Exchange, one on PLUS Markets and there have been two trade sales. IPGroup also has three 'Modern-themed' subsidiaries - Modern Biosciences, ModernWater and Modern Waste. Modern Water was the first of these subsidiaries tofloat on AIM in June 2007. 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:
Ip Group