REG - IP Group PLC - No direct deposits or credit facilities with SVB

IPAnnouncement

13/03/2023 07:00

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RNS Number : 6663S  IP Group PLC  13 March 2023

 FOR RELEASE ON  13 March 2023

IP Group - Confirms no direct financial relationship with SVB

IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), which
invests in breakthrough science and innovation companies with the potential to
create a better future for all, confirms that it has no direct deposits,
credit facilities or other relationships with Silicon Valley Bank or SVB UK.

 

As announced last week, IP Group has a strong balance sheet and as at 31
December 2022 had gross cash and deposits of £241.5m and total potential
liquidity (including quoted shares and undrawn debt) of over £500m.

 

While we continue to monitor the response to the situation, we have evaluated
our portfolio and are working closely with the small number of portfolio
companies that may require short term liquidity. Our strong financial position
means we are well placed to support our portfolio.

 

 

For more information, please contact:

 

 IP Group plc                                          www.ipgroupplc.com
 Greg Smith, Chief Executive Officer                   +44 (0) 20 7444 0050

 David Baynes, Chief Financial and Operating Officer

 Liz Vaughan-Adams, Communications                     +44 (0) 20 7444 0062/+44 (0) 7967 312125
 Portland
 Vic Wallin                                            +44 (0) 7973 823119

 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
(http://www.ipgroupplc.com/) .

 

ENDS

 

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