IP Group plc - Portfolio company Applied Graphene Materials announces conditional placing to raise £11m and Admission to AIM

18 Nov 2013

IP Group plc (LSE: IPO) (“IP Group” or “the Company” or “the Group”), the developer of intellectual property based businesses, is pleased to note that portfolio company Applied Graphene Materials plc (“AGM” or “Applied Graphene Materials”) has today announced a conditional placing of new Ordinary Shares to raise gross proceeds of £11 million and that the admission of its entire issued share capital to trading on the AIM market of the London Stock Exchange and commencement of dealings in its Ordinary Shares is expected to take place on 20 November 2013.

Applied Graphene Materials (AIM: AGM), a spin-out from Durham University which has developed a proprietary process for the manufacture of high purity graphene nanoplatelets, has conditionally placed a total of 7,096,775 Placing Shares at a price of 155 pence per Placing Share ("Placing Price") to raise gross proceeds of £11 million. The Placing is conditional, inter alia, upon admission. The number of Ordinary Shares in issue immediately after admission will be 16,890,458. Based on the Placing Price, the market capitalisation of Applied Graphene Materials on admission will be approximately £26.2 million.

IP Group is beneficially interested in 3,449,852 ordinary shares in Applied Graphene Materials, representing 20.4% of AGM's enlarged issued share capital, valued at £5.3 million at the Placing Price. IP Group committed £2.0 million to the placing and the transaction will result in an unrealised fair value gain of £2.6 million at the Placing Price. Funds managed by IP Group also contributed £0.5 million to the placing and will hold 14.5% on admission.

N+1 Singer is acting as Nominated Adviser and Broker to AGM. The fund raise will enable AGM to increase production capacity and accelerate commercialisation with partners.

For more information, please contact:

IP Group plc
Alan Aubrey, Chief Executive Officer             +44 (0) 20 7444 0050
Liz Vaughan-Adams, Communications     +44 (0) 20 7444 0062 / +44 (0) 7979 853 802

FTI Consulting (for IP Group) 
Ben  Atwell, John Dineen +44 (0) 20 7831 3113

Notes for editors

About IP Group

IP Group is a leading UK intellectual property ("IP") commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.

The Company's portfolio comprises holdings in over 70 companies including Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.

The portfolio includes early stage to mature businesses and has exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, fifteen of the portfolio companies IP Group has backed have listed on the AIM market of the London Stock Exchange and one on ISDX.

Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006.

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