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Allied Minds plc Announces Completion of its Initial Public Offering and Admission to the London Stock Exchange

Allied Minds plc (LSE: ALM) today announced that its entire issued ordinary share capital of 213,290,579 ordinary shares was recently admitted to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's Main Market for listed securities under the ticker "ALM" (ISIN: GB00BLRLH124).

The admission followed the successful pricing of its initial public offering at 190 pence per ordinary share, which provided the Company with a total market capitalization of approximately £405.3 million ($691.1 million), based on the per share price at the commencement of conditional dealings on June 20, 2014. The Company sold 44,254,411 new ordinary shares in the offering, plus 3,791,154 new ordinary shares pursuant to an over-allotment option, and selling shareholders sold 17,440,797 existing ordinary shares, resulting in total gross proceeds raised in the offering of approximately £124.4 million ($212.2 million). Jefferies International Limited acted as sole sponsor and bookrunner.

Chris Silva, the Chief Executive Officer, said, “The successful completion of this initial public offering marks the beginning of an exciting new phase of growth and opportunity for Allied Minds and our diversified portfolio of 18 businesses. We are pleased with the positive response that we received from investors to this IPO, and look forward to enhancing and accelerating our efforts to commercialize the innovative science and technologies from our extensive network of partners at U.S. universities and government research institutions.”

About Allied Minds

Allied Minds is an innovative U.S.-focused science and technology development and commercialization company. The Company commenced operations in 2006 to invest in and advance science and technology innovation developed in some of the leading U.S. universities. The Company’s business model is to form, fund, manage and build start-up companies to undertake research and product development, and ultimately to commercialize scientific research and innovations emerging from U.S. universities and U.S. federal research institutions and laboratories.

Allied Minds' strategy is to build a significant and diversified group of businesses and achieve strong growth over the medium to long term through the maturation of its products through the commercialization cycle. The Company’s business model centralizes the support functions at the Allied Minds level, thereby enabling its subsidiary businesses to focus efforts primarily on research and development activity while achieving operational and financial efficiency. Allied Minds provides on-going funding to support the operating activities of its existing 18 subsidiary businesses, the primary focus of which is to progress on-going scientific research and product development activity towards commercialization of the products developed by those businesses. The Company currently anticipates allocating a portion of the net proceeds of the offering, together with existing cash resources, towards advancing the Company’s principal life sciences and physical sciences subsidiaries and bringing their principal products to market.

The Company believes that the offering will: provide diversification of funding sources to support its long-term growth; enhance its public profile and status with existing and potential partners; create a significantly more liquid market in the ordinary shares; assist in the incentivization and retention of key management and employees; and provide investors with an opportunity to gain exposure to early stage U.S. university and U.S. federal government intellectual property commercialization.

Forward looking statements

This press release contains statements that are or may be forward-looking statements, including statements that relate to the company’s future prospects, developments and strategies. The forward looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risk and uncertainties described in the risk factors included in the company’s regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law, regulatory requirement, the Prospectus Rules, the Listing Rules and the Disclosure and Transparency Rules, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Important notice

This press release is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Company in any jurisdiction, including in the United States, Australia, Canada, Japan, South Africa or any other jurisdiction where such an offer would be unlawful.

The securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The securities referred to herein have not been registered under the applicable securities laws of Australia, Canada, Japan or South Africa and, subject to certain exceptions, may not be offered or sold within Australia, Canada, Japan or South Africa or to any national, resident or citizen of Australia, Canada, Japan or South Africa. The distribution of this press release in other jurisdictions may be restricted by law and persons into whose possession this press release comes should inform themselves about, and observe, such restrictions.

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