FOR
RELEASE ON
|
12 June 2024
|
IP Group plc - Results
of Annual General Meeting
The following amendment has been
made to the 'Result of Annual General Meeting' announcement
released on 12 June 2024 at 14:39
under RNS No 1922S.
The Board is pleased that Resolution
7 was passed by a significant majority of the shareholders who
voted, but notes the votes against this resolution.
In the coming months, we will engage with our
shareholders to try to understand the reasons behind this vote, and
in accordance with the UK Corporate Governance Code, we will
publish an update on that engagement within six months of the
AGM.
All other details remain
unchanged.
The full amended text is shown
below.
The Annual General Meeting
("AGM") of IP Group plc was
held earlier today. All of the Resolutions proposed at the AGM were
passed by the appropriate majority on a
poll.
IP Group plc Annual General Meeting
Poll Results
|
RESOLUTION
|
VOTES
FOR
|
%
|
VOTES
AGAINST
|
%
|
VOTES
TOTAL
|
% of ISC
VOTED
|
VOTES
WITHHELD
|
1
|
To receive the Directors' Report, the
Audited Statement of Accounts and Auditor's Report of the Company
for the financial year ended 31 December 2023.
|
639,543,600
|
99.99%
|
56,711
|
0.01%
|
639,600,311
|
62.14%
|
86,826,847
|
2
|
To approve the Directors'
Remuneration Report for the year ended 31 December 2023.
|
599,931,114
|
82.62%
|
126,245,469
|
17.38%
|
726,176,583
|
70.55%
|
250,575
|
3
|
To re-appoint KPMG LLP as auditor of
the Company.
|
620,540,602
|
96.17%
|
24,721,870
|
3.83%
|
645,262,472
|
62.69%
|
81,164,686
|
4
|
To authorise the Directors to fix the
remuneration of KPMG LLP as auditor of the Company.
|
706,913,382
|
97.32%
|
19,496,630
|
2.68%
|
726,410,012
|
70.57%
|
17,146
|
5
|
To re-elect Mr David Baynes as a
Director of the Company.
|
724,086,322
|
99.71%
|
2,100,274
|
0.29%
|
726,186,596
|
70.55%
|
240,562
|
6
|
To re-elect Dr Caroline Brown as a
Director of the Company.
|
638,190,625
|
98.90%
|
7,072,475
|
1.10%
|
645,263,100
|
62.69%
|
81,164,058
|
7
|
To re-elect Mr Heejae Chae as a
Director of the Company.
|
505,165,832
|
78.29%
|
140,073,563
|
21.71%
|
645,239,395
|
62.69%
|
81,187,763
|
8
|
To re-elect Sir Douglas Flint as a
Director of the Company.
|
631,952,107
|
98.77%
|
7,899,949
|
1.23%
|
639,852,056
|
62.16%
|
86,575,102
|
9
|
To re-elect Ms Aedhmar Hynes as a
Director of the Company.
|
637,489,586
|
98.80%
|
7,773,514
|
1.20%
|
645,263,100
|
62.69%
|
81,164,058
|
10
|
To re-elect Ms Anita Kidgell as a
Director of the Company.
|
609,581,219
|
98.95%
|
6,491,184
|
1.05%
|
616,072,403
|
59.85%
|
110,354,755
|
11
|
To re-elect Mr Greg Smith as a
Director of the Company.
|
724,213,431
|
99.73%
|
1,974,088
|
0.27%
|
726,187,519
|
70.55%
|
239,639
|
12
|
To authorise the Directors to
exercise all the powers of the Company to allot shares and grant
rights to subscribe for or to convert any security into shares in
the Company subject to the limits set out in the AGM
notice.
|
718,924,490
|
98.97%
|
7,491,806
|
1.03%
|
726,416,296
|
70.57%
|
10,862
|
13
|
To empower the Directors to allot
equity securities for cash, or sell treasury shares, dis-applying
statutory pre-emption rights subject to the limits set out in the
AGM notice.
|
628,975,287
|
86.81%
|
95,528,700
|
13.19%
|
724,503,987
|
70.39%
|
1,923,171
|
14
|
In addition to the authority granted
under Resolution 13, to empower the Directors to allot equity
securities in connection with an acquisition or other capital
investment as if section 561(1) of the Companies Act 2006
("Act") did not apply to
any such allotment, subject to the limits set out in the AGM
notice.
|
610,301,817
|
84.24%
|
114,199,377
|
15.76%
|
724,501,194
|
70.39%
|
1,925,964
|
15
|
To authorise the Company and its
subsidiaries to incur political expenditure (as defined in section
365 of the Act) not exceeding £50,000 in total.
|
704,218,957
|
96.94%
|
22,199,270
|
3.06%
|
726,418,227
|
70.57%
|
8,931
|
16
|
To authorise the Company to make
market purchases (as defined in section 693(4) of the Act) of the
Company's ordinary shares, subject to the limits set out in the AGM
notice.
|
721,034,126
|
99.28%
|
5,248,159
|
0.72%
|
726,282,285
|
70.56%
|
144,873
|
17
|
To enable a general meeting other
than an Annual General Meeting to be called on not less than 14
clear days' notice.
|
718,259,364
|
98.88%
|
8,159,929
|
1.12%
|
726,419,293
|
70.57%
|
7,865
|
18
|
To approve the terms of the new IP
Group 2024 Sharesave Plan.
|
719,004,534
|
99.02%
|
7,106,845
|
0.98%
|
726,111,379
|
70.54%
|
315,779
|
The Board is pleased that Resolution
7 was passed by a significant majority of the shareholders who
voted, but notes the votes against this resolution.
In the coming months, we will engage with our
shareholders to try to understand the reasons behind this vote, and
in accordance with the UK Corporate Governance Code, we will
publish an update on that engagement within six months of the
AGM.
In accordance with Listing Rule
9.6.1, a copy of the Resolutions has been submitted to the National
Storage Mechanism and will shortly be available for inspection
at:
www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.
For
more information, please contact:
IP
Group plc
|
www.ipgroupplc.com
|
Liz Vaughan-Adams,
Communications
|
+44 (0) 20 7444 0062/+44 (0) 7979
853802
|
Portland
|
Alex Donaldson
|
+44 (0)
7516 729702
|
Notes for editors
About IP Group
IP Group accelerates the impact
of science for a better future. As the most
active UK based, early stage science
investor, we develop and support some of the
world's most exciting businesses in deeptech, life
sciences and cleantech (led by Kiko Ventures). Through
Parkwalk, the UK's largest growth EIS fund manager, we
also back world-changing innovation emerging in leading
universities and research institutions. Our specialist
investment team combines sector expertise with an international
approach. Together we have a strong track record of success, having
backed high-profile companies including Oxford Nanopore
Technologies plc, First Light Fusion, Hysata, and Oxbotica. 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