Business
Withdrawal of resolution from 2019 AGM
Withdrawal of resolution from 2019 AGM.
About this update from Ip Group Plc
[{"type":"text","content":"\n \nRNS Number : 3354Z IP Group PLC 16 May 2019 \n\n\n\n\nFOR RELEASE ON\n\n\n16 May 2019\n\n\n\n \nIP Group plc - Withdrawal of resolution from 2019 AGM\n \nIP Group plc (LSE: IPO) (\"IP Group\" or \"the Company\" or \"the Group\"), the developer of intellectual property-based businesses, notes that it is withdrawing Resolution 20, to approve amendments to the LTIP (as defined in the 2019 AGM Notice), from its AGM.\n \nShareholders approved various amendments to the LTIP in 2011 rather than the LTIP rules being renewed in full. As a result of an administrative error, the LTIP scheme documentation reflected 2011 as its adoption date, rather than as the date on which it was amended. The effect of this was that the LTIP technically expired in 2017 rather than 2021. \n \nThe Company will now seek approval of the LTIP by shareholders, in accordance with the Listing Rules, at the next opportune time and no later than the 2020 AGM. The LTIP will reflect the Remuneration Policy which shareholders are being asked to approve at the 2019 AGM.\n \nExisting awards remain in place however the Company will not allow any awards to vest, nor will it make any further grants under the LTIP, until shareholders have formally approved the LTIP.\n \n For more information, please contact:\n\n\n\nIP Group plc\n\n\nwww.ipgroupplc.com\n\n\n\n\nLiz Vaughan-Adams, Communications \n\n\n+44 (0) 20 7444 0062/+44 (0) 7979 853802\n\n\n\n \nNotes for editors\n \nAbout IP Group\n \nIP 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.\n \nFor more information, please visit our website at www.ip...