Exercise of Options and Total Voting Rights

RNS Number : 1390O

Frontier IP Group plc

28 May 2020

 

28 May 2020

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 81,034 ordinary shares of 10 pence each in the Group (the "New Ordinary Shares") following an exercise of options on 27 May 2020. 24,034 options had an exercise price of 10 pence each and 57,000 options had an exercise price of 40 pence each.

The New Ordinary Shares have been issued pursuant to the exercise of options granted to a former 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.  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 81,034 New Ordinary Shares to trading on AIM will become effective on, or around, 2 June 2020 ("Admission").

Total Voting Rights

Following Admission, the issued share capital of the Company will consist of 50,762,406 ordinary shares of 10p each ("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 50,762,406. 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	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.

 

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