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Pin to quick picksFrontier Ip Regulatory News (FIPP)

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Equity Placing raising £1.0M & Total Voting Rights

24 Mar 2016 07:00

RNS Number : 1172T
Frontier IP Group plc
24 March 2016
 

 

24 March 2016

AIM: FIPP

 

Frontier IP Group plc

("Frontier IP" or the "Company" or the "Group")

 

Equity Placing raising £1.0 million

and

Total Voting Rights

 

 

Frontier IP, which specialises in the commercialisation of university intellectual property, is pleased to announce that it has successfully completed a placing of 4,177,500 new ordinary shares of 10p each ("Placing Shares") at a price of 24p per share ("Placing Price") to raise £1,002,600 before expenses (the "Placing"). The net proceeds of the Placing due to the Company will provide support for the development and growth of the portfolio and relationships, expanding the team and allied advisory roles. The Placing was conducted by the Company's nominated adviser and joint broker, Cantor Fitzgerald Europe.

 

Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM which is expected to be on 31 March 2016 ("Admission"). The Placing Shares will rank pari passu in all respects with the existing ordinary shares of the Company.

 

Following Admission, there will be 30,778,520 ordinary shares of 10 pence each in the Company in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in or a change to their interest in Frontier IP, under the FCA's Disclosure and Transparency Rules.

 

Neil Crabb, Chief Executive of Frontier IP, said,

 

"We are delighted to announce the successful completion of our fundraising, which was over-subscribed following our recent strong half yearly results. This funding positions the Group to pursue new opportunities in the UK and beyond, whilst continuing to deliver strong growth from our current portfolio."

 

 

 

Enquiries

 

Frontier IP Group Plc

T: 0131 240 1251

Neil Crabb, Chief Executive

Company website: www.frontierip.co.uk

 

Cantor Fitzgerald Europe

(Nominated Adviser and Joint Broker)

T: 020 7894 7000

David Foreman / Catherine Leftley, Corporate Finance

David Banks, Corporate Broking

Peterhouse Corporate Finance Limited (Joint Broker)

T: 020 7469 0935

Lucy Williams

Kreab

(Financial PR)

T: 020 7074 1800

Robert Speed / Matthew Jervois

 

 

Notes to Editor:

 

Frontier IP Group plc

www.frontierip.co.uk.

Frontier IP specialises in assisting universities, research institutions and companies in the commercialisation and exploitation of their Intellectual Property.

 

 

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