IP Group PLC Portfolio company Xeros announces £40m funding
November 12 2015 - 2:10AM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
12 November 2015
FOR RELEASE ON 12 November 2015
IP Group plc - Portfolio company Xeros Technology Group plc
announces GBP40m
funding round
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, is pleased to
note that Xeros Technology Group plc ("Xeros" or "the Company") has
raised, subject to certain conditions, approximately GBP40 million
(before expenses) by way of a placing of new ordinary shares with
both new and existing shareholders at a price of 225 pence per
share.
The proceeds of the placing will be used to build on Xeros'
progress in its commercial laundry business and to capitalise on
opportunities for its polymer bead innovation in other
applications, including in the leather processing and domestic
laundry markets.
The non-pre-emptive placing will be subject to shareholder
approval.
IP Group has agreed to subscribe for 2,108,444 placing shares,
representing GBP4.7 million. Following completion of the placing,
IP Group will be beneficially interested in 9,874,240 ordinary
shares in the Company, representing approximately 11.8% of the
enlarged issued share capital.
For more information, please contact:
IP Group plc www.ipgroupplc.com
+44 (0) 20 7444 0050
Alan Aubrey, Chief Executive Officer
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 7979 853802
FTI Consulting
James Melville-Ross/Simon Conway/
Victoria Foster Mitchell +44 (0) 20 3727 1000
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 over 90 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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