Touchstone Innovations : Exercise of share options

27 November 2017

Touchstone Innovations plc

Exercise of share options and acceptance of IP Group offer in respect of resulting shares

The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.

Touchstone Innovations plc (AIM: IVO, 'Touchstone' or 'the Company') has, on 24 November 2017, allotted ordinary shares in the capital of the Company ('Award Shares') to the following persons discharging managerial responsibilities ('PDMRs'), in satisfaction of the exercise of options granted under the Company's 2016 Long Term Incentive Plan ('LTIP').

Number of Award Shares

Russ Cummings 83,619

Nigel Pitchford 25,131

Tony Hickson 14,622

Anjum Ahmad 11,994

The options, which have an exercise price of 3 /(three and one thirty-third) pence per Award Share, became exercisable as a result of the offer by IP Group plc for the entire issued share capital of the Company ('the Offer') being declared unconditional.

The PDMRs listed above have accepted the Offer in respect of the Award Shares.

For further information contact:

Touchstone Innovations plc	020 3053 8834
Russ Cummings, Chief Executive Officer
William Rayner, General Counsel and Company Secretary
Jon Davies, Director of Communications
Instinctif Partners	020 7457 2020
Adrian Duffield/Mel Toyne-Sewell/Chantal Woolcock
J.P. Morgan Cazenove (Nominated adviser)	020 7742 4000
Michael Wentworth-Stanley/Alec Pratt
RBC Capital Markets (Joint corporate broker)	020 7653 4000
Marcus Jackson

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	RUSS CUMMINGS
2.	Reason for the notification
a)	Position / status	CHIEF EXECUTIVE OFFICER
b)	Initial notification/amendment	INITIAL NOTIFICATION
3.	Details of issuer
a)	Name	touchstone Innovations plc
b)	LEI	213800D4RUIF3HLITE31
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument Identification Code	NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 / PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953
b)	Nature of the transaction	exercise of options held under the long term incentive plan
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 83,619
d)	Aggregated information Aggregated volume price	N/A
e)	Date of the transaction	24 NOVEMBER 2017
f)	Place of the transaction	OUTSIDE A TRADING VENUE
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument Identification Code	ORDINARY SHARES OF 3 / PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953
b)	Nature of the transaction	ACCEPTANCE OF TAKEOVER OFFER - DISPOSAL OF ORDINARY SHARES
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A - NO CASH CONSIDERATION PAID 83,619
d)	Aggregated information Aggregated volume price	N/A
e)	Date of the transaction	24 NOVEMBER 2017
f)	Place of the transaction	OUTSIDE A TRADING VENUE
g)	Additional information	No price information included in section (c) above as the disposal was not for cash consideration. Consideration for the disposal was 2.2178 ordinary shares in the capital of IP Group plc for each ordinary share in the capital of Touchstone Innovations plc.

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	NIGEL PITCHFORD
2.	Reason for the notification
a)	Position / status	CHIEF INVESTMENT OFFICER
b)	Initial notification/amendment	INITIAL NOTIFICATION
3.	Details of issuer
a)	Name	touchstone Innovations plc
b)	LEI	213800D4RUIF3HLITE31
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument Identification Code	NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 / PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953
b)	Nature of the transaction	exercise of options held under the long term incentive plan
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 25,131
d)	Aggregated information Aggregated volume price	N/A
e)	Date of the transaction	24 NOVEMBER 2017
f)	Place of the transaction	OUTSIDE A TRADING VENUE
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument Identification Code	ORDINARY SHARES OF 3 / PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953
b)	Nature of the transaction	ACCEPTANCE OF TAKEOVER OFFER - DISPOSAL OF ORDINARY SHARES
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A - NO CASH CONSIDERATION PAID 25,131
d)	Aggregated information Aggregated volume price	N/A
e)	Date of the transaction	24 NOVEMBER 2017
f)	Place of the transaction	OUTSIDE A TRADING VENUE
g)	Additional information	No price information included in section (c) above as the disposal was not for cash consideration. Consideration for the disposal was 2.2178 ordinary shares in the capital of IP Group plc for each ordinary share in the capital of Touchstone Innovations plc.

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	TONY HICKSON
2.	Reason for the notification
a)	Position / status	MANAGING DIRECTOR - TECHNOLOGY TRANSFER
b)	Initial notification/amendment	INITIAL NOTIFICATION
3.	Details of issuer
a)	Name	touchstone Innovations plc
b)	LEI	213800D4RUIF3HLITE31
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument Identification Code	NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 / PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953
b)	Nature of the transaction	exercise of options held under the long term incentive plan
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 14,622
d)	Aggregated information Aggregated volume price	N/A
e)	Date of the transaction	24 NOVEMBER 2017
f)	Place of the transaction	OUTSIDE A TRADING VENUE
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument Identification Code	ORDINARY SHARES OF 3 / PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953
b)	Nature of the transaction	ACCEPTANCE OF TAKEOVER OFFER - DISPOSAL OF ORDINARY SHARES
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A - NO CASH CONSIDERATION PAID 14,622
d)	Aggregated information Aggregated volume price	N/A
e)	Date of the transaction	24 NOVEMBER 2017
f)	Place of the transaction	OUTSIDE A TRADING VENUE
g)	Additional information	No price information included in section (c) above as the disposal was not for cash consideration. Consideration for the disposal was 2.2178 ordinary shares in the capital of IP Group plc for each ordinary share in the capital of Touchstone Innovations plc.

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	anjum ahmad
2.	Reason for the notification
a)	Position / status	TREASURY AND FINANCE DIRECTOR
b)	Initial notification/amendment	INITIAL NOTIFICATION
3.	Details of issuer
a)	Name	touchstone Innovations plc
b)	LEI	213800D4RUIF3HLITE31
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument Identification Code	NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 / PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953
b)	Nature of the transaction	exercise of options held under the long term incentive plan
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 11,994
d)	Aggregated information Aggregated volume price	N/A
e)	Date of the transaction	24 NOVEMBER 2017
f)	Place of the transaction	OUTSIDE A TRADING VENUE
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument Identification Code	ORDINARY SHARES OF 3 / PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953
b)	Nature of the transaction	ACCEPTANCE OF TAKEOVER OFFER - DISPOSAL OF ORDINARY SHARES
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A - NO CASH CONSIDERATION PAID 11,994
d)	Aggregated information Aggregated volume price	N/A
e)	Date of the transaction	24 NOVEMBER 2017
f)	Place of the transaction	OUTSIDE A TRADING VENUE
g)	Additional information	No price information included in section (c) above as the disposal was not for cash consideration. Consideration for the disposal was 2.2178 ordinary shares in the capital of IP Group plc for each ordinary share in the capital of Touchstone Innovations plc.