IP Group PLC Trading Statement (5080L)
January 12 2016 - 2:00AM
UK Regulatory
TIDMIPO
RNS Number : 5080L
IP Group PLC
12 January 2016
FOR RELEASE ON 12 January 2016
IP Group plc - Trading statement
IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the
Company"), the developer of intellectual property-based businesses,
issues the following trading update for its financial year ended 31
December 2015.
The Group has seen significant activity within its portfolio
during the second half of 2015, with a number of its portfolio
companies announcing commercial developments and substantial
fundraisings. The Group now expects 2015 to be its most successful
year in terms of financial performance since its formation.
Significant transactions announced by portfolio companies in the
second half of 2015 include the admission of Diurnal Group plc to
AIM in December, raising GBP30m before expenses, and a further
three of our quoted companies (Xeros Technology Group plc, hVIVO
plc and Applied Graphene Materials plc) announcing significant
fundraisings, totalling approximately GBP70m before expenses. Two
of the Group's unquoted companies, First Light Fusion Limited and
Ultrahaptics Limited, announced financings of GBP23m and GBP10m
respectively.
The Directors now anticipate that the fair value of the Group's
portfolio will be in excess of GBP550m at 31 December 2015,
compared to GBP350m at 31 December 2014. This would represent a net
unrealised fair value increase, excluding net investment, of more
than GBP85m during the year (2014: GBP21m).
During 2015, the Group provided GBP76m (2014: GBP47m) of
incubation, seed and development capital to its portfolio companies
and a further GBP40m strategic investment into Oxford Science
Innovations plc.
At 31 December 2015, the Group's gross cash and cash equivalents
were in excess of GBP175m (2014: GBP97m).
The above information is presented on an unaudited basis. It is
anticipated that the Group will make its Annual Results Release for
the year ended 31 December 2015, based on its audited statutory
accounts, on Tuesday 1 March 2016.
For more information, please contact:
IP Group plc www.ipgroupplc.com
Alan Aubrey, Chief Executive
Officer +44 (0) 20 7444 0050
Greg Smith, Chief Financial
Officer +44 (0) 20 7444 0062/+44
Liz Vaughan-Adams, Communications (0) 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 UK
and US 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
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