IP Group PLC - London-based active investor in early stage science companies - Launches a £25 million extension to its share buyback programme, increasing the total programme to up to £70 million.

The extension follows the receipt of GBO119 million from the sale of portfolio company Featurespace to Visa Inc. The buyback will run until December 31, unless completed or terminated earlier, and is conditional on shareholder approval at the 2025 annual general meeting if not concluded beforehand.

Since the programme began, IP Group has repurchased 66.9 million shares at an average price of 44.8 pence per share, for a total of £30 million. All shares acquired under the programme will be cancelled.

The buyback is being managed by Deutsche Numis under a non-discretionary agreement. IP Group will continue to announce share purchases as they occur.

Current stock price: 50.00 pence, up 1.3% in London on Thursday

12-month change: down 7.8%

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