Last checked at 8 Sep 2023 07:00
RNS
AIM: FIPP
8 September 2023
Frontier IP Group Plc
("Frontier IP" or the "Group")
Exercise of Options, Issue of Equity
and
Total Voting Rights
Frontier IP, a specialist in commercialising intellectual property, announces that it has issued and allotted 29,400 ordinary shares of 10 pence each in the Group (the "New Ordinary Shares") following an exercise of 29,400 options on 7 September 2023. The options have been exercised as follows:
Grant Date | Number of Options | Exercise Price |
15 November 2018 | 24,000 | 10 pence |
6 December 2019 | 5,400 | 10 pence |
The New Ordinary Shares have been issued pursuant to the exercise of options granted to an employee under the Frontier IP Group plc Employee Share Option Scheme 2011. The New Ordinary Shares rank, pari passu, in all respects with the Company's existing ordinary shares of 10p each ("Ordinary Shares").
Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. It is expected that admission of the 29,400 New Ordinary Shares to trading on AIM will become effective on, or around, 15 September 2023 ("Admission").
Total Voting Rights
Following Admission, the issued share capital of the Company will consist of 55,687,553 Ordinary Shares, with one voting right per share. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 55,687,553. From Admission, this figure may be used by shareholders in the Company 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, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
ENQUIRIES
Frontier IP Group Plc | T: 020 3968 7815 |
Neil Crabb, Chief Executive Andrew Johnson, Communications & Investor Relations Company website: www.frontierip.co.uk
| neil@frontierip.co.uk M: 07464 546 025 |
Allenby Capital Limited (Nominated Adviser) Nick Athanas / George Payne
| T: 0203 328 5656 |
Singer Capital Markets (Broker) Harry Gooden / James Fischer
| T: 0207 496 3000 |
ABOUT FRONTIER IP
Frontier IP unites science and commerce by identifying strong intellectual property and accelerating its development through a range of commercialisation services. A critical part of the Group's work is involving relevant industry partners at an early stage of development to ensure technology meets real world demands and needs.
The Group looks to build and grow a portfolio of equity stakes and licence income by taking an active involvement in spin-out companies, including support for fund raising and collaboration with relevant industry partners at an early stage of development.