IP Group PLC Top 20 portfolio company funding round (7581X)

TIDMIPO

RNS Number : 7581X

IP Group PLC

22 December 2023

 
 FOR RELEASE ON   22 December 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) WHICH FORMS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

IP Group plc - Top 20 portfolio company funding round

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, notes its participation today in a follow-on portfolio company funding round , for which it anticipates recording a net unrealised fair value gain of approximately GBP40m* or 4p per share.

IP Group has committed a total of US$15m (GBP11.8m*) to the funding round . Completion of the transaction is subject to certain conditions and is due to occur in mid-January 2024. Further information on the funding round, which has been supported by both existing and new investors, will be provided in due course.

The Group's directors are currently reviewing the carrying values of all assets in the portfolio as part of the usual year-end process. While it is too early to provide guidance as to the carrying values of the Group's portfolio companies, they currently anticipate that the gain relating to this investment will be offset by other fair value reductions in the portfolio.

*GBP equivalent using 1.26 USD/GBP

For more information, please contact:

 
 IP Group plc                         www.ipgroupplc.com 
                                      +44 (0) 20 7444 0062/+44 (0) 
 Liz Vaughan-Adams, Communications     7967 312125 
 Portland 
 Vic Wallin                           +44 (0) 7973 823119 
  Alex Donaldson                       +44 (0) 7516 729702

Notes for editors

About IP Group

IP Group accelerates the impact of science for a better future. As the most active UK based, early stage science investor , we develop and support some of th e world's most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach. Together we have a strong track record of success, having backed high-profile companies including Oxford Nanopore Technologies plc, First Light Fusion, Hysata, and Oxa. IP Group 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDTTBRTMTMTMFJ

(END) Dow Jones Newswires

December 22, 2023 02:10 ET (07:10 GMT)

Ip (LSE:IPO)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024