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Frontier Smart Tech (FST)

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Friday 23 August, 2019

Frontier Smart Tech

Confirmation of Refinancing

RNS Number : 1001K
Frontier Smart Technologies Grp Ltd
23 August 2019
 

23 August 2019

Frontier Smart Technologies Group Ltd

('Frontier' or the 'Company')

Confirmation of Refinancing

Further to its announcement of 21 August 2019, the Company confirms that the Subscription Agreement and the agreement relating to the Standby Facility have been executed.

Application has been made for admission of the Subscription Shares to trading on AIM ("Admission"). It is expected that Admission will occur and dealings will commence on 28 August 2019. Following Admission, the Company will have 46,855,203 ordinary shares in issue, including 2,017,537 which are held in the Company's Employee Benefit Trust ("EBT"). Voting rights in respect of the ordinary shares held jointly by the EBT and participants for the purposes of the Company's joint share ownership plan are waived. Accordingly, following Admission the number of shares carrying voting rights will be 44,837,666.

This figure of 44,837,666 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, the Company, under the FCA's Disclosure Guidance and Transparency Rules.

Following Admission, Science Group's total shareholding in the capital of the Company will be 23,447,431 ordinary shares, equivalent to 52.29 per cent. of the Company's voting share capital, as enlarged.

Capitalised terms used in this announcement shall have the same meaning as those ascribed to them in the Company's announcement of 21 August 2019 entitled "Board transition, refinancing and strategy".

- Ends -

For Further Enquiries:

Frontier Smart Technologies Group Limited

+44 (0) 20 7391 0630

Anthony Sethill, Chief Executive Officer


Jonathan Apps, Chief Financial Officer




N+1 Singer (Nominated Adviser and Broker)

+44 (0) 20 7496 3000

Sandy Fraser / Lauren Kettle / Ben Farrow


 


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