IP Group PLC IP Group sells 12.25m shares in Ceres Power
May 21 2020 - 2:00AM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
21 May 2020
FOR RELEASE ON 21 May 2020
IP Group sells 12.25m shares in Ceres Power, cash realisations
for the year now exceed GBP110 million
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, announces that
it has sold 12.25 million ordinary shares in Ceres Power Holdings
plc ("Ceres") at a price of 425 pence per share.
Following completion of the sale, which was conducted through an
accelerated bookbuild by Berenberg as sole bookrunner, IP Group
will continue to hold approximately 9.4 million ordinary shares in
Ceres, representing approximately 5.5 per cent of the issued share
capital of the Company.
The net proceeds from the sale of approximately GBP51 million
bring the Group's total cash realisations for the year to date to
more than GBP110 million (full year 2019: GBP79.5 million).
Alan Aubrey, Chief Executive of IP Group plc, said: "We're
pleased to announce another significant cash realisation that
brings total proceeds in the year to date to more than GBP110
million. IP Group remains financially strong and continues to take
a prudent approach to capital allocation and operating costs in the
current environment. The Group first invested in Ceres in 2012 and
it is a great example of how we've helped to develop and support a
world-leading company based on scientific research carried out in
the UK."
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
Charlotte Street Partners
Andrew Wilson +44 (0) 7810 636995
David Gaffney +44 (0) 7854 609998
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
subsidiaries IP Capital and Parkwalk Advisors), networks,
recruitment and business support. IP Group has a strong track
record of success and its portfolio comprises holdings in early
stage to mature businesses across life sciences and technology. IP
Group is listed on the Main Market of the London Stock Exchange
under the code IPO.
Group holdings in portfolio companies reflect the undiluted
beneficial equity interest excluding debt, unless otherwise
explicitly stated.
For more information, please visit our website at
www.ipgroupplc.com .
ENDS
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END
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