REG - IP Group PLC - AGM post-meeting shareholder engagement update

IPAnnouncement

12/12/2022 17:00

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RNS Number : 4391J  IP Group PLC  12 December 2022

 FOR RELEASE ON  12 DECEMBER 2022

 

IP Group plc - AGM 2022 post-meeting shareholder engagement update

 

In accordance with Provision 4 of the UK Corporate Governance Code, IP Group
plc (LSE: IPO) ("IP Group" or "the Company") is providing an update to the
statement made on 14 June 2022 in relation to the voting outcome on Resolution
21 at the Annual General Meeting ("AGM") of the Company held on 14 June 2022.

 

As stated previously, the Company noted that Resolution 21 (approval of the IP
Group plc Share Plan) was passed at the AGM, with 79.19% of shareholders
voting in favour of the resolution. In recognition of the votes opposing the
resolution, the Board committed to a continued engagement with shareholders on
their concerns with the details of Resolution 21.

 

Since the AGM, the Remuneration Committee Chair has engaged further with
shareholders, inviting any additional input in order to better understand why
those who had opposed the resolution were unable to support it. The Board is
grateful to those shareholders who took the time to respond to this further
engagement, although notes that shareholder concerns remained primarily
related to issues already discussed in detail with shareholders and proxy
advisory groups during the extensive consultation process that preceded the
vote. The Board values the feedback it has received and insights it has gained
through the entire engagement process.

 

The Board continues to believe that the IP Group plc Share Plan rules are
aligned with the long-term interests of the Company and its shareholders. The
rules are aligned with the Remuneration Policy approved under Resolution 3 at
the AGM, forming part of an overall approach to remuneration which seeks to
align our senior executive remuneration structure and outcomes to long-term
value creation and shareholder returns. As a result, no changes to the rules
of the IP Group plc Share Plan which were approved at the AGM are proposed at
this time.

 

The Board and Remuneration Committee remain committed to engaging with
shareholders on Executive Director remuneration, and always welcome dialogue
with any interested shareholders on the Group's Remuneration Policy, the rules
of the IP Group plc Share Plan and on any implementation decisions.

 

For more information, please contact:

 

 IP Group plc                                             www.ipgroupplc.com (http://www.ipgroupplc.com)
 Liz Vaughan-Adams, Communications                        +44 (0) 20 7444 0062/+44 (0) 7967 312125
 Charlotte Street Partners
 David Gaffney                                            +44 (0) 7854 609998
 Andrew Wilson                                            +44 (0) 7810 636995

 

Notes for editors

 

About IP Group

 

IP Group develops world-changing science and technology businesses across
life sciences, technology and cleantech (through Kiko Ventures). The Group has
a strong track record of success, having been the founder investor in a number
of high-profile companies including Oxford Nanopore Technologies plc, and has
one of the most exciting portfolios of high-growth businesses in Europe. The
Group also owns Parkwalk, the UK's largest growth EIS fund manager which backs
world-changing technologies emerging from the UK's leading universities and
research institutions. 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
(http://www.ipgroupplc.com/) .

 

ENDS

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