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IP Group updates on Touchstone deal

08 June 2017 13:49

IP Group has announced the completion of its £207m Capital Raise, with £23m being subject to delayed settlement by Beijing Galaxy World Group, in relation to the the 'Possible Offer' for Touchstone Innovations.

The Company added that, to account for the £184m of the firm capital raised to date, it has made the following adjustments to the 'Possible Offer':

a) the Exchange Ratio increases to 2.1575;

b) Touchstone shareholders would own approximately 33% of the enlarged share capital of IP Group; and

c) on the basis of the closing IP Group share price on 22 May, the implied offer value remains 307p per Touchstone share.

At 1:49pm:

(LON:IPO) IP Group PLC share price was +2.25p at 137.65p

(LON:IVO) Touchstone Innovations PLC share price was +4.88p at 301.38p

Story provided by StockMarketWire.com

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