IP Group PLC Disposal of holding in Tracsis plc
March 10 2016 - 8:23AM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
10 March 2016
FOR RELEASE ON 10 March 2016
IP Group plc - Disposal of holding in Tracsis plc
IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the
Company"), the developer of intellectual property-based businesses,
is pleased to announce that it has realised its entire holding in
portfolio company Tracsis plc.
The Group received net cash proceeds of GBP13.1m from the sale,
bringing total proceeds to date, including dividends, to GBP14.3m.
This represents an Internal Rate of Return of approximately 58% and
a multiple of approximately 38 times the Group's investment of
GBP0.4m.
For more information, please contact:
IP Group plc www.ipgroupplc.com
Alan Aubrey, Chief Executive
Officer +44 (0) 20 7444 0050
Greg Smith, Chief Financial
Officer +44 (0) 20 7444 0062/+44
Liz Vaughan-Adams, Communications (0) 7979 853802
Charlotte Street Partners
Andrew Wilson +44 (0) 7810 636995
Chris Sibbald +44 (0) 7855 955531
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 over 90 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
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March 10, 2016 09:23 ET (14:23 GMT)
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