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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ip Group Plc | LSE:IPO | London | Ordinary Share | GB00B128J450 | ORD 2P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.20 | -2.45% | 47.85 | 47.85 | 48.00 | 49.45 | 47.80 | 49.40 | 552,500 | 14:22:31 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Finance Services | -140.1M | -174.4M | -0.1682 | -2.86 | 499.27M |
TIDMIPO
IP Group PLC
29 September 2016
FOR RELEASE ON 29 September 2016
IP Group plc - Portfolio company Ceres Power completes GBP20m placing
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, is pleased to note that portfolio company Ceres Power Holdings plc ("Ceres" or "the Company"), has raised a total of approximately GBP20.0 million (before expenses) by means of a conditional placing ("Placing") with new and existing investors in the UK.
Ceres is a leader in low cost, next generation fuel cell technology for use in distributed power products that have the potential to bring cheaper and cleaner energy to homes and businesses.
IP Group committed a total of GBP6.6m to the Placing and, following completion, will hold a total of 257,538,294 shares in Ceres, or 25.6% of the equity. The Placing remains subject to the passing of certain resolutions at the General Meeting, scheduled for 14 October 2016.
Ceres was advised by IP Capital.
For more information, please contact:
Hot Features
Premium
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
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 100 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
END
NRAPGUMCBUPQPGR
(END) Dow Jones Newswires
September 29, 2016 02:01 ET (06:01 GMT)
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