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Frontier IP Group - Exercise of Options and Issue of Equity

RNS Number : 9833W
Frontier IP Group plc
16 December 2019
 

16 December 2019

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 university intellectual property, announces that the Board of Directors approved the issue and allotment of 250,000 Ordinary Shares of 10 pence each in the Group (the "New Ordinary Shares") subject to and conditional upon admission to trading on AIM. The New Ordinary Shares have been issued in order to satisfy an exercise of 250,000 options held by an existing employee. The exercise price was 26.63 pence. The options had been granted under the Frontier IP Group plc Employee Share Option Scheme 2011.

 

The Group will shortly make an application to the London Stock Exchange for the admission to trading on AIM ("Admission") of 250,000 New Ordinary Shares. The New Ordinary Shares rank pari passu in all respects with the Company's existing ordinary shares and Admission is expected to become effective at 8:00 a.m. on 20 December 2019.

 

Following the anticipated admission of these shares, the total number of ordinary shares of 10 pence each in the capital of the Company in issue will be 50,681,372 with each share carrying the right to one vote.

 

The figure of 50,681,372 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 Disclosure and Transparency Rules.

 

Enquiries

Frontier IP Group plc

0207 332 2338

Neil Crabb, Chief Executive


Andrew Johnson, Communications & Investor Relations

07464 546 025

www.frontierip.co.uk




Allenby Capital Limited (Nominated Adviser)

0203 328 5656

Nick Athanas / Nicholas Chambers




N+1 Singer (Broker)

0207 496 3000

Harry Gooden / George Tzimas


 

 

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.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Frontier IP Group PLC

Price: 77

Market: AIM
Market Cap: £39.02 m
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