IP Group PLC Withdrawal of resolution from 2019 AGM (3354Z)
May 16 2019 - 1:21PM
UK Regulatory
TIDMIPO
RNS Number : 3354Z
IP Group PLC
16 May 2019
FOR RELEASE ON 16 May 2019
IP Group plc - Withdrawal of resolution from 2019 AGM
IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the
Group"), the developer of intellectual property-based businesses,
notes that it is withdrawing Resolution 20, to approve amendments
to the LTIP (as defined in the 2019 AGM Notice), from its AGM.
Shareholders approved various amendments to the LTIP in 2011
rather than the LTIP rules being renewed in full. As a result of an
administrative error, the LTIP scheme documentation reflected 2011
as its adoption date, rather than as the date on which it was
amended. The effect of this was that the LTIP technically expired
in 2017 rather than 2021.
The Company will now seek approval of the LTIP by shareholders,
in accordance with the Listing Rules, at the next opportune time
and no later than the 2020 AGM. The LTIP will reflect the
Remuneration Policy which shareholders are being asked to approve
at the 2019 AGM.
Existing awards remain in place however the Company will not
allow any awards to vest, nor will it make any further grants under
the LTIP, until shareholders have formally approved the LTIP.
For more information, please contact:
IP Group plc www.ipgroupplc.com
+44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 7979 853802
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.
For more information, please visit our website at
www.ipgroupplc.com.
ENDS
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END
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