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Schedule 1 update - Frontier Resources Intl. PLC

12 Jul 2016 15:30

RNS Number : 9822D
AIM
12 July 2016
 

 

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Frontier Resources International PLC (to be renamed Concepta PLC on Admission)

 

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

Registered Address : 514 Metal Box Factory, 30 Great Guildford Street, London SE1 0HS

 

Trading Address: The Exchange, Colworth Park, Sharnbrook, Bedfordshire MK44 1LQ

COUNTRY OF INCORPORATION:

United Kingdom

 

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

At present : www.friplc.com (to change to www.conceptaplc.com post Admission)

 

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

The Company will be the holding company for Concepta Diagnostics Limited, Concepta Diagnostics Limited is a Healthcare company operating in the area of fertility and, more specifically, in the niche market segment of unexplained fertility. Concepta's products target the personalised mobile health market.

 

Concepta's current offices and head offices are based in Colworth, Bedfordshire and York, Yorkshire. The main country of operation, in which its proprietary disposable test strips are assembled and manufactured is the U.K, with its meters used for reading the strips are sub-contracted for manufacture to the People's Republic of China (PRC). Concepta is targeting sales initially into PRC, the UK and the rest of the European Union.

 

Admission is being sought as a result of a reverse takeover under AIM Rule 14.

 

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

 

Ordinary shares of £0.025 each (following a 250 to 1 share consolidation of existing shares of £0.0001); Nil shares to be held as treasury shares.

 

109,160,573 ordinary shares of £0.025 to be admitted (of which 5,200,000,000 existing shares of £0.0001 are currently admitted to trading - these will consolidate into 20,800,000 ordinary shares of £0.025); 30,343,950 new ordinary shares of £0.025 are to be issued as consideration for the Acquisition; 10,833,333 new ordinary shares of £0.025 are to be issued in respect of conversion of outstanding debt within Concepta; 32,050,342 new ordinary shares of £0.025 are to be issued in a firm placing with institutional, other investors and vendors of Concepta raising £2.40 million, 1,373,330 new ordinary shares are to be subscribed by Concepta employees raising £0.103 million, and 13,759,618 new ordinary shares of £0.025 are to be issued in a conditional placing with clawback in an open offer to existing shareholders (with excess applications permitted) to raise up to £1.03m.

 

 

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Amount of new monies to be raised on Admission : c£3.53 million, comprising £2.40 million in a firm placing, £0.10 million in the Subscription and £1.03 million in a conditional placing with clawback in an open offer to existing shareholders.

 

Market Capitalisation on Admission of c£8.19 million based on the placing price of £0.075 per new ordinary share.

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

c55.0%

 

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:

N/A

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Existing Board

Adam Reynolds (Non-executive Chairman)

Barbara Joyce Spurrier (Financial Director)

Neil Lindsey Herbert (Non-executive Director)

 

Proposed Board

Adam Reynolds (Non-executive Chairman)

Barbara Joyce Spurrier (Financial Director)

Neil Lindsey Herbert (Non-executive Director)

Erik Georges Henau (Chief Executive)

Mark Andrew Wyatt (Non-executive Director)

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Pre-Admission*¹

Post Admission*¹

Shareholder

Number

%

Number

%

Mr Paul Levinson

333,000,000

6.45

1,332,000

Mr Christopher Potts

473,333,333

9.17

1,893,333

Finance Yorkshire Seedcorn Fund

-

-

12,699,997

11.63%

Angel CoFund

-

-

11,668,267

10.69%

Mercia Technologies PLC

-

-

19,999,999

18.32%

 

*¹ Pre-Admission shows existing ordinary shares of £0.0001; and Post Admission shows new ordinary shares of £0.025 (following a share consolidation of 250:1)

 

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

N/A

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

 

i. 31 December

ii. 31 January 2016 - audited financial information Concepta Diagnostics Limited;

31 December 2015 - audited financial information (Frontier Resources

International PLC);

iii. 30 September 2016, 30 June 2017; 30 September 2017

EXPECTED ADMISSION DATE:

 26 July 2016

 

NAME AND ADDRESS OF NOMINATED ADVISER:

 

SPARK Advisory Partners Limited

5 St John's Lane

London

EC1M 4BH

 

NAME AND ADDRESS OF BROKERS:

 

Beaufort Securities Limited

131 Finsbury Pavement

London EC2A 1NT

 

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

 

SPARK Advisory Partners Limited

5 St John's Lane

London

EC1M 4BH

 

The admission document contains full details about the applicant and the admission of its securities

 

DATE OF NOTIFICATION:

12 July 2016

 

NEW/ UPDATE:

UPDATE

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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