RNS Number:5428I
IP Group PLC
27 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 property
commercialisation company, is pleased to note that today is the first day of
trading 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, provides
resource optimisation software to major transport companies in the passenger
rail 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 Ordinary
Shares in Tracsis (worth #1.5 million at the Placing Price), representing 20% of
Tracsis' enlarged issued share capital.
Tracsis is the eleventh of IP Group's portfolio companies to have floated on
either AIM or PLUS Markets and is the third IP Group portfolio company to have
achieved a flotation this year. Green Chemicals plc floated on PLUS Markets in
January while Modern Water Plc floated on AIM in June.
For further information, please contact:
IP Group plc 0845 074 2929
Alan Aubrey, Chief Executive Officer
Liz Vaughan-Adams (Communications) 020 7444 0062/07979853802
Buchanan
Tim 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 that
specialises in commercialising university technology. Founded in 2001, IP Group
listed on AIM in October 2003 and moved to the Official List in June 2006. It
has made two acquisitions to date - Techtran, a company set up to commercialise
university intellectual property under a long term contract with the University
of Leeds, in 2005 and Top Technology Ventures, an investment adviser to early
stage technology venture capital funds, in 2004.
IP Group has formed long-term partnerships with ten universities - the
University of Oxford, King's College London, CNAP/University of York, the
University of Leeds, the University of Bristol, the University of Surrey, the
University of Southampton, Queen Mary (University of London), the University of
Bath and the University of Glasgow.
As at 30 June 2007, 60 spin-out companies had been created among IP Group's
university partners. Of those, nine have listed on the AIM market of the London
Stock Exchange, one on PLUS Markets and there have been two trade sales. IP
Group also has three 'Modern-themed' subsidiaries - Modern Biosciences, Modern
Water and Modern Waste. Modern Water was the first of these subsidiaries to
float 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 Exchange
END
MSCPUGACGUPMPUQ
|