TIDMIPO
RNS Number : 9792L
IP Group PLC
16 September 2021
FOR RELEASE ON 16 September 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS
ANNOUNCEMENT.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014)
WHICH FORMS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018.
IP Group plc - Portfolio company
on the London Stock Exchange; cornerstone investment agreement
with Oracle
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, notes that
portfolio company Oxford Nanopore Technologies Limited ("Oxford
Nanopore" or "the Company"), the Company behind a new generation of
nanopore-based sensing technology, whose products enable the
real-time, high-performance, scalable analysis of DNA and RNA, has
confirmed its intention to proceed with an initial public offering
(the "IPO" or the "Offer") as well as the signing of a strategic
memorandum of understanding and cornerstone investment agreement
with Oracle Corporation ("Oracle").
Oxford Nanopore intends to apply for admission of its Shares to
the standard listing segment of the Official List of the FCA and to
trading on the London Stock Exchange's main market for listed
securities. The final offer price in respect of the Offer (the
"Offer Price") will be determined following a book-building
process, with Admission currently expected to occur in early
October 2021.
IP Group, which was a founding shareholder in Oxford Nanopore in
2005, has a 14.4% undiluted beneficial stake in the Company, which
was valued at GBP359 million as at 30 June 2021 .
Oxford Nanopore noted that the Offer would comprise a primary
offer of new Shares to be issued by the Company, which is expected
to raise gross proceeds of approximately GBP300 million, and a
secondary offer of existing Shares to be sold by certain existing
shareholders.
In addition, Oxford Nanopore noted that it has recently entered
into a memorandum of understanding with Oracle, whereby the two
companies will explore collaboratively a number of potential new
solutions to address opportunities in the applied and clinical
markets, and related go-to-market strategies. The collaboration is
intended to draw on Oxford Nanopore's strengths in sequencing and
genetic analysis, together with Oracle's strengths in database and
cloud technologies. Separately, the Company and a vehicle
controlled by Oracle have entered into a cornerstone investment
agreement, pursuant to which such entity has irrevocably agreed,
subject to certain customary conditions, to subscribe for GBP150
million of New Shares at the Offer Price. The Company is targeting
a free float of at least 25% of the Company's issued share capital
at Admission.
Alan Aubrey, Chief Executive of IP Group , said: " IP Group has
been with Oxford Nanopore from day one and has actively supported
the Company in a number of ways since then in addition to providing
capital. We are delighted to see Oxford Nanopore take the next
steps on its journey."
The person responsible for arranging the release of this
announcement on behalf of the Company is Alan Aubrey, Chief
Executive of IP Group.
For more information, please contact:
IP Group plc www.ipgroupplc.com
+44 (0) 20 7444 0050
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 7979 853802
Charlotte Street Partners
David Gaffney +44 (0) 7854 609998
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
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.
Group holdings in portfolio companies reflect the undiluted
beneficial equity interest excluding debt, unless otherwise
explicitly stated.
Important Information
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States (including its
territories and possessions, any state of the United States and the
District of Columbia), Australia, Canada, the Republic of South
Africa, Japan or any other jurisdiction where to do so would
constitute a violation of the relevant laws of such jurisdiction.
The distribution of this announcement may be restricted by law in
certain jurisdictions and persons into whose possession any
document or other information referred to herein comes should
inform themselves about and observe any such restriction. Any
failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction. Neither
this announcement shall form the basis of or constitute any offer
or invitation to sell or issue, or any solicitation of any offer to
purchase or subscribe for any Shares or any other securities nor
shall it (or any part of it) or the fact of its distribution, form
the basis of, or be relied on in connection with, any contract or
commitment therefor.
In particular, this announcement does not constitute an offer to
sell, or a solicitation of an offer to buy, securities in the
United States. Securities may not be offered or sold in the United
States absent registration under the U.S. Securities Act of 1933,
as amended (the "Securities Act"), except pursuant to an available
exemption from, or in a transaction not subject to, the
registration requirements under the Securities Act. The Shares have
not been, and will not be, registered under the Securities Act and
there will be no public offer of the Shares in the United
States.
ENDS
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