REG - Frontier IP Group - PrimaryBid.com Offer

Frontier IPAnnouncement

20/07/2020 16:40

RNS Number : 5356T
  
Frontier IP Group plc
  
20 July 2020
  
 

 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF FRONTIER IP GROUP PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN 779021)
20 July 2020
 
Frontier IP Group plc
("Frontier" or the "Company")
PrimaryBid.com Offer
Frontier IP Group plc (AIM:FIPP), the AIM quoted specialist in commercialising intellectual property, is pleased to announce, an offer for subscription via PrimaryBid (the "PrimaryBid Offer") of new ordinary shares of 10p each in the Company ("PrimaryBid Shares") at an issue price of 55 pence per PrimaryBid Share (the "Issue Price"), being a discount of 14.1 per cent to the closing mid-price of the Company's ordinary shares on AIM on 17 July 2020.  The Company is also conducting a placing of new ordinary shares (the "Placing Shares") at the Issue Price by way of an accelerated bookbuild process (the "Placing"), as announced by the Company at 4.35pm on 20 July 2020.
The PrimaryBid Offer and the Placing are conditional on, among other things, the PrimaryBid Shares and the Placing Shares being admitted to trading on AIM ("Admission"). Admission is expected to take place at 8.00 a.m. on 27 July 2020. The PrimaryBid Offer will not be completed without the Placing also being completed. 
The Company intends to apply the net proceeds of the PrimaryBid Offer and the Placing, in conjunction with its existing resources, to: 
·    support the ongoing working capital needs of the business including investment in additional headcount to increase Frontier's capacity to provide commercialisation and development services for portfolio companies; and
·    flex the Frontier business model to include both bridge funding and direct participation in investment rounds for portfolio companies to take advantage of existing and future investment opportunities that present themselves, in part due to COVID-19 and its impact on private funding markets.
PrimaryBid Offer
The Company values its retail investor base and is therefore pleased to provide the opportunity to private and other investors to participate in the PrimaryBid Offer by applying exclusively through the www.PrimaryBid.com platform and the PrimaryBid mobile app which is available on Apple's App Store and Google Play. PrimaryBid does not charge investors any commission for this service.
The PrimaryBid Offer, via the PrimaryBid.com platform, will be open to individual and institutional investors from 4:36 p.m. on 20 July 2020 to 9:00 p.m. on 20 July 2020.  The PrimaryBid Offer may close early if it is oversubscribed.
Subscriptions under the PrimaryBid Offer will be considered by the Company on a "first come, first served" basis, subject to conditions (which are available to view on PrimaryBid.com).
The Company in consultation with PrimaryBid reserves the right to scale back any order at its discretion. The Company and PrimaryBid reserve the right to reject any application for subscription under the Offer without giving any reason for such rejection.
No commission is charged to investors on applications to participate in the PrimaryBid Offer made through PrimaryBid.  It is vital to note that once an application for PrimaryBid Shares has been made and accepted via PrimaryBid, an application cannot be withdrawn.
For further information on PrimaryBid.com or the procedure for applications under the PrimaryBid Offer, visit www.PrimaryBid.com or call PrimaryBid.com on +44 (0) 20 3026 4750. 
The New Ordinary Shares will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the Company's existing Ordinary Shares.



Frontier IP Group plc
Neil Crabb, Chief Executive Officer
Andrew Johnson, Communications & Investor Relations
 


+44 (0) 20 7332 2338




PrimaryBid Limited
Kieran D'Silva / James Deal
 
Allenby Capital Limited (Nominated Adviser)
Nick Athanas / James Hornigold
 


+ 44 (0) 20 3026 4750
 
 
 
+ 44 (0) 20 3328 5656




N+1 Singer (Broker)


+44 (0) 20 7496 3000




Sandy Fraser / Harry Gooden / George Tzimas
 

















The Company highly values its retail investor base which has supported the Company alongside institutional investors over several years. Given the longstanding support of retail shareholders, the Company believes that it is appropriate to provide retail and other interested investors the opportunity to participate in the Offer. The Company is therefore making the Offer available exclusively through PrimaryBid.com.
The Offer is offered under the exemptions set out sections 86(1)(e) and 86(4) of the Financial Services and Markets Act 2000 against the need for a prospectus allowed under the Prospectus Regulation Rules. As such, there is no need for publication of a prospectus (and a prospectus will not be published) pursuant to the Prospectus Regulation Rules, or for approval of the same by the Financial Conduct Authority. The Offer is not being made into any jurisdiction where it would be unlawful to do so.
There is a minimum subscription of £100 per investor under the terms of the Offer which is open to existing shareholders and other investors subscribing via PrimaryBid.com. This allocation will be filled on a "first come first served" basis.
For further details please refer to the PrimaryBid.com website at www.PrimaryBid.com. The terms and conditions on which the Offer is made, including the procedure for application and payment for PrimaryBid Shares, is available to all persons who register with PrimaryBid.com.
Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.
It should be noted that a subscription for PrimaryBid Shares and investment in the Company carries a number of risks. Investors should consider the risk factors set out on PrimaryBid.com before making a decision to subscribe for PrimaryBid Shares. Investors should take independent advice from a person experienced in advising on investment in securities such as the PrimaryBid Shares if they are in any doubt. 
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