Grant of Options

Frontier IP Group plc

20 December 2024

 

AIM: FIPP

20 December 2024

                                                                               Frontier IP Group plc

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

Grant of Options

Frontier IP, a specialist in commercialising intellectual property, announces that, on 19 December 2024, the Board granted options over a total of 1,000,403 ordinary shares of 10 pence each in the Company ("Ordinary Shares") to certain Executive Directors and personnel of the Company (the "Options").

The Options have been granted through a combination of:

(i)    grants under the Frontier IP Group plc Unapproved Share Option Plan 2021, which includes the terms of the Long-Term Incentive Plan (the "LTIP") details of which were approved by shareholders at the annual general meeting of the Group held on 9 December 2022; and

(ii)   grants under the Company's approved Company Share Option Plan (the "CSOP").

A total of 889,775 grants have been made under the terms of the Company's Unapproved Share Option Plan (the "LTIP Grants"), structured as grants of nominal cost options and at a price of 10 pence per share. The exercise period of the LTIP Grants commences on 19 December 2027 and expires on 18 December 2034. Further details on the LTIP and the vesting criteria are set out below.

A total of 110,628 Options have been granted under the CSOP (the "CSOP Grants") with an exercise price of 28 pence per share, being the closing mid-market price of an existing ordinary share on 18 December 2024, the business day prior to the grant date. The exercise period of the CSOP Grants commences on 19 December 2027 and expires on 18 December 2034.

The Options have been granted as follows:

Name	Position	Number of grants under CSOP	Number of grants under Unapproved Share Option Plan	Total options over Ordinary Shares held following grant
Neil Crabb	Chief Executive Officer	0	157,114	1,407,237
Jackie McKay	Chief Operating Officer	0	113,960	1,010,229
Joanne Stent	Chief Financial Officer	0	305,076	305,076
Matthew White	Chief Commercialisation Officer	0	125,691	799,818
Other Company personnel		110,628	187,934
Total Options granted		110,628	889,775

The Options have been granted in line with the aim of the Company's remuneration policy which is to incentivise and reward appropriately in order to attract and retain the best people in support of the Group's strategy.

Following the grants detailed above, the Company now has a total of 6,284,134 options outstanding over Ordinary Shares, representing 9.12% of the Company's total issued share capital (as enlarged by the new ordinary shares issued in respect of the fundraising previously announced by the Company and which are due to admit to trading on AIM on or around 23 December 2024).

Background and details on LTIP

At the Company's 2022 annual general meeting, the Board received the approval of shareholders for the terms of the LTIP. The LTIP is based on annual awards of performance shares, structured as nominal cost options, with vesting linked 70% to net asset value per share and 30% to total shareholder return measured over 3 financial years.

In order to enable such grants, the terms of the previous unapproved option plan rules were amended to reflect the terms of the LTIP.

The LTIP rules include:

1.    a limit of 15% of issued share capital at time of grant on the number of shares that have been issued, or transferred out of treasury, on the exercise of options granted, and in satisfaction of any other awards made under the share schemes operated by the Company during the period of ten years ending on the grant date with no limit to the number of nil or nominal cost awards within the 15% limit; and

2.    LTIP participants include the executive directors and other Group employees; allocations are made annually from an aggregate award pool, which is limited in size to ensure sufficient shares are available to grant in future years without exceeding the Group's dilution limit of 15% of issued share capital over the prior ten years. The LTIP includes an individual grant limit of 200% of salary in any financial year.

ENQUIRIES

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

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated (PCA)
a)	Name	Neil Crabb Chief Executive Officer Jackie McKay Chief Operating Officer Joanne Stent Chief Financial Officer Matthew White Chief Commercialisation Officer
2	Reason for the notification
a)	Position/status	See 1a) above
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Frontier IP Group plc
b)	LEI	213800BRYUKQPJWKJ312
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Options over ordinary shares of 10p each in Frontier IP Group Plc Identification code (ISIN) for Frontier IP Group Plc ordinary shares: GB00B63PS212
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price: 10 pence Volumes: Neil Crabb 157,114 Jackie McKay 113,960 Joanne Stent 305,076 Matthew White 125,691
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	19 December 2024
f)	Place of the transaction	Outside a trading venue

 

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