Result of General Meeting

RNS Number : 3608S

Frontier IP Group plc

29 November 2012

 



AIM: FIPP

FRONTIER IP GROUP PLC

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

Result of General Meeting

Further to the announcement of 6 November 2012, Frontier IP, which specialises in the commercialisation of intellectual property, is pleased to announce that at a General Meeting of the Company held earlier today, all resolutions were duly passed.

The Company has raised £608,000 in a Placing of 6,080,000 new ordinary shares at 10 pence per share. Application has been made for the 6,080,000 new ordinary shares to be admitted to trading on AIM and it is expected that Admission will become effective on or around 3 December 2012. Following Admission, there will be a total of 13,052,165 ordinary shares of 10 pence each in the Company in issue. This figure may be used by shareholders 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 Frontier IP, under the FSA's Disclosure and Transparency Rules. 

The Company also confirms its intention to appoint Marcus Yeoman to the Board as Non-executive Director, replacing Graham Barnet who will step down from the Board. Both these Board changes will take place on admission of the Placing Shares to AIM. Marcus brings extensive experience of working with listed and smaller companies.

The table below sets out the Directors' interests following the Placing:

Director	Shareholding	% of Share Capital
Neil Crabb*	2,056,375	15.76
David Cairns*	370,000	2.84
Andrew Richmond*	500,000	3.83
Marcus Yeoman**	200,000	1.53
Jackie McKay	12,855	0.1

* These figures include the holdings of their connected persons

** Marcus Yeoman's shareholding is held by Springtime Consultants Limited of which he is a director and majority shareholder.

Capitalised terms used in this announcement are as defined in the circular to shareholders sent to shareholders 7 November 2012.

Enquiries

Company website: www.frontierip.co.uk

Frontier IP Group Plc		T: 0131 220 9491
Neil Crabb, Executive Chairman
Seymour Pierce Ltd (Nominated Adviser and Joint Broker)		T: 020 7107 8000
Guy Peters / Julian Erleigh - Corporate Finance
David Banks / Paul Jewell - Corporate Broking
Peterhouse Corporate Finance Limited (Joint Broker)		T: 020 7469 0935
Jon Levinson / Lucy Williams
Biddicks		T: 020 3178 6378
Katie Tzouliadis

 

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