CamGraPhIC loan facility of up to £1.5 million

RNS Number : 5441E

Frontier IP Group plc

08 July 2021

 

RNS

AIM: FIPP

08 July 2021

Frontier IP Group Plc

("Frontier IP" or the "Group")

Portfolio news - CamGraPhIC loan facility of up to £1.5 million

Frontier IP, a specialist in commercialising intellectual property, announces that its portfolio company, CamGraPhIC Limited ("CamGraphIC" or the "Company") has put in place a loan facility which will provide funding of up to £1.5 million to enable CamGraphIC to accelerate the development of its growth.

Frontier IP has yesterday subscribed for £842,810 of loan notes (the "Loan Notes") pursuant to the loan facility comprising amounts that have been advanced by Frontier IP to CamGraphIC between 13 January 2021 and 24 June 2021. The Loan Notes are interest-bearing, have a three-year term and have 100% warrant cover.

CamGraphIC is the Group's second graphene spin out from the University of Cambridge. The Company was formed to develop graphene-based photonics for high-speed data and telecommunications. Graphene photonics is seen by the Company's industrial partners as a key enabler for 5G technologies and has potential applications in a range of other sectors.

Separate to the loan facility detailed above, Frontier IP has also previously advanced amounts totalling £210,000 to CamGraphIC under previous loan agreements entered into in 2019 and 2020 to provide working capital for the Company. As a consequence, as at the date of this announcement the total amount advanced by Frontier IP to CamGraphIC is £1.05 million.

Frontier IP believes CamGraphIC is making good progress both in executing its business plan and raising a larger equity funding round, having recently completed its first equity fundraising of £608,985 in June this year. The COVID-19 pandemic has highlighted the increasing need for robust data infrastructure and communications, emphasising the relevance of the Company's technology.

Frontier IP holds a 26.7 per cent. equity stake in CamGraphIC.

ENQUIRIES

Frontier IP Group Plc	T: 020 3968 7815
Neil Crabb, Chief Executive Andrew Johnson, Communications & Investor Relations Company website: www.frontierip.co.uk	[e-mail] M: 07464 546 025
Allenby Capital Limited (Nominated Adviser) Nick Athanas / George Payne Singer Capital Markets (Broker) Sandy Fraser / Harry Gooden / George Tzimas	T: 0203 328 5656 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.

 

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