IP Group PLC Completion of acquisition (6494V)

TIDMIPO

RNS Number : 6494V

IP Group PLC

01 February 2017

 
 FOR RELEASE ON   01 February 2017 
 

IP Group plc - Completion of acquisition of Parkwalk

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, is pleased to announce the completion of its acquisition of Parkwalk Advisors Ltd ("Parkwalk") which was announced on 16 December, following receipt of approval of a change of controller application from the Financial Conduct Authority.

Founded in 2009, Parkwalk is the UK's leading university spin-out focused EIS fund manager, having raised over GBP100m to date with the majority of funds coming from leading private wealth platforms and having backed over 70 companies across its managed funds since inception.

IP Group confirms that the issued share capital of IP Group plc remains unchanged, comprising 565,221,967 ordinary shares of 2p each. There are no shares held in treasury. The total number of voting rights in IP Group plc remains 565,221,967.

This information may be used by shareholders in their calculations to determine if they are required to notify their interest in, or a change to their interest in, IP Group plc under the FCA's Disclosure and Transparency Rules.

For more information, please contact:

 
 IP Group plc                          www.ipgroupplc.com 
 Alan Aubrey, Chief Executive 
  Officer                              [phone] 
  Greg Smith, Chief Financial 
  Officer                               [phone]/+44 
  Liz Vaughan-Adams, Communications     (0) 7979 853802 
 Charlotte Street Partners 
 Andrew Wilson                         [phone] 
 

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 approximately 80 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.

About Parkwalk

Parkwalk is one of the UK's leading technology Enterprise Investment Scheme fund managers. Parkwalk Funds invest in high-growth, knowledge-intensive companies with a focus on technology and innovation primarily sourced from UK universities. Investments are made across the growth curve from early stage through to AIM-listed. The firm also manages a series of early-stage funds in conjunction with the technology transfer offices of the Universities of Cambridge, Oxford and Bristol.

For more information, please visit our website at www.parkwalkadvisors.com

ENDS

This information is provided by RNS

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February 01, 2017 02:00 ET (07:00 GMT)