IP Group plc (LSE: IPO) ("IP Group"), the intellectual property
commercialisation company, is pleased to note that today is the
first day of trading on AIM of Ordinary Shares ("Ordinary Shares")
in Tracsis plc ("Tracsis" or "the Company").
Tracsis (AIM: TRCS), a spin-out company from the University of
Leeds, provides resource optimisation software to major transport
companies in the passenger rail and bus industries. The Company has
raised £2.0 million, before expenses, by way of a placing
with investors at a placing price of 40p per Ordinary Share (the
"Placing Price"), valuing the Company at £7.0 million on
admission to AIM.
Following the placing, IP Group is the registered owner of
3,655,550 Ordinary Shares in Tracsis (worth £1.5 million at
the Placing Price), representing 20% of Tracsis' enlarged issued
Tracsis is the eleventh of IP Group's portfolio companies to
have floated on either AIM or PLUS Markets and is the third IP
Group portfolio company to have achieved a flotation this year.
Green Chemicals plc floated on PLUS Markets in January while Modern
Water Plc floated on AIM in June.
For further information, please contact:
0845 074 2929
Alan Aubrey, Chief Executive Officer
020 7444 0062/07979853802
Tim Anderson, Mary-Jane Johnson, Mark
Court 020 7466 5000
Notes for Editors
About IP Group
IP Group Plc is an intellectual property (IP) commercialisation
company that specialises in commercialising university technology.
Founded in 2001, IP Group listed on AIM in October 2003 and moved
to the Official List in June 2006. It has made two acquisitions to
date - Techtran, a company set up to commercialise university
intellectual property under a long term contract with the
University of Leeds, in 2005 and Top Technology Ventures, an
investment adviser to early stage technology venture capital funds,
IP Group has formed long-term partnerships with ten universities
- the University of Oxford, King's College London, CNAP/University
of York, the University of Leeds, the University of Bristol, the
University of Surrey, the University of Southampton, Queen Mary
(University of London), the University of Bath and the University
As at 30 June 2007, 60 spin-out companies had been created among
IP Group's university partners. Of those, nine have listed on the
AIM market of the London Stock Exchange, one on PLUS Markets and
there have been two trade sales. IP Group also has three
'Modern-themed' subsidiaries - Modern Biosciences, Modern Water and
Modern Waste. Modern Water was the first of these subsidiaries to
float on AIM in June 2007.