REG - Frontier IP Group - Result of AGM

Frontier IPAnnouncement

19/12/2024 16:30

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RNS Number : 8216Q  Frontier IP Group plc  19 December 2024

19 December 2024

 

Frontier IP Group plc

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

 

Result of Annual General Meeting

 

Director/PDMR Shareholding

 

Frontier IP Group plc (AIM: FIPP), a specialist in commercialising
intellectual property, is pleased to announce that at its annual general
meeting ("AGM"), held earlier today, all resolutions were duly passed with the
table below summarising votes received.

Accordingly, following the passing of the Fundraising Resolutions at the AGM,
the Company has conditionally raised gross proceeds of approximately £3.6
million at the Issue Price via the Fundraising, details of which were
announced on 22 November 2024.

 

  RESOLUTIONS   NO OF VOTES FOR  % OF VOTES CAST (EXCLUDING VOTES WITHELD)  NO OF VOTES AGAINST  % OF VOTES CAST (EXCLUDING VOTES WITHELD)  TOTAL VOTES CAST (EXCLUDING VOTES WITHHELD)  NO OF VOTES WITHHELD
 ORDINARY RESOLUTIONS
 Resolution 1   22,550,270       94.66%                                     1,272,795            5.34%                                      23,823,065                                   5,609
 Resolution 2   19,431,964       81.58%                                     4,386,387            18.42%                                     23,818,351                                   10,323
 Resolution 3   23,822,725       99.99%                                     2,799                0.01%                                      23,825,524                                   3,150
 Resolution 4   23,822,725       99.99%                                     2,799                0.01%                                      23,825,524                                   3,150
 Resolution 5   22,550,229       94.65%                                     1,275,295            5.35%                                      23,825,524                                   3,150
 Resolution 6   22,550,229       94.65%                                     1,275,295            5.35%                                      23,825,524                                   3,150
 Resolution 7   23,822,725       99.99%                                     2,799                0.01%                                      23,825,524                                   3,150
 Resolution 8   23,822,725       99.99%                                     2,799                0.01%                                      23,825,524                                   3,150
 Resolution 9   23,822,725       99.99%                                     2,799                0.01%                                      23,825,524                                   3,150
 Resolution 10  23,817,109       99.98%                                     4,201                0.02%                                      23,821,310                                   7,364
 Resolution 11  23,818,511       99.97%                                     7,013                0.03%                                      23,825,524                                   3,150
 Resolution 16  23,818,310       99.96%                                     10,264               0.04%                                      23,828,574                                   100
 SPECIAL RESOLUTIONS
 Resolution 12  23,815,236       99.94%                                     13,338               0.06%                                      23,828,574                                   100
 Resolution 13  20,628,307       86.57%                                     3,200,367            13.43%                                     23,828,674                                   0
 Resolution 14  23,724,366       99.56%                                     104,308              0.44%                                      23,828,674                                   0
 Resolution 15  18,745,421       99.87%                                     23,549               0.13%                                      18,768,970                                   5,059,704
 Resolution 17  23,795,560       99.86%                                     33,114               0.14%                                      23,828,674                                   0

 

Whilst Resolution 2 in respect of the directors' remuneration report was
passed with the necessary majority, the Board also notes the votes against in
relation to this Resolution. The Board notes that the contents of the
directors' remuneration report are in line with proposals previously
implemented by the Company's Remuneration Committee following a remuneration
review undertaken by the Company in 2022 which was subject to a consultation
process with the Company's largest shareholders at the time. Following the
voting at the AGM, where it is able to, the Board will continue to seek to
engage with those Shareholders who are understood to have voted against
certain of the Resolutions to understand their views and/or any specific
concerns.

 

Directors' holdings

Details of the interests of the Directors who participated in the Subscription
and their resultant holdings of Ordinary Shares following Second Admission are
as follows:

 Director                   Existing number of Ordinary Shares held  Number of Subscription Shares  Total number of Ordinary Shares held following Second Admission  % of enlarged share capital following Second Admission
 Neil Crabb                 3,573,713                                357,143                        3,930,856                                                        5.71%
 Nigel Grierson             0                                        71,429                         71,429                                                           0.10%
 Professor Dame Julia King  0                                        357,143                        357,143                                                          0.52%
 Jacqueline McKay           262,855                                  53,571                         316,426                                                          0.46%
 Joanne Stent               0                                        53,571                         53,571                                                           0.08%
 Matthew White              0                                        89,286                         89,286                                                           0.13%
 David Holbrook             0                                        7,143                          7,143                                                            0.01%

 

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for the 12,374,115
Conditional Fundraising Shares (comprising the 9,647,972 Conditional Placing
Shares, the 1,042,857 Subscription Shares and the 1,683,286 Retail Shares) to
be admitted to trading on AIM. Second Admission is expected to take place and
dealings in the Conditional Fundraising Shares are expected to commence at
8.00 a.m. on 23 December 2024, at which time it is also expected that the
Conditional Fundraising Shares will be enabled for settlement in CREST.

 

Immediately following Second Admission, the issued share capital of the
Company will comprise 68,898,207 Ordinary Shares. Each Ordinary Share has one
voting right and no Ordinary Shares are held in treasury. Accordingly,
immediately following Second Admission, the total number of voting rights in
the Company will be 68,898,207. From Second Admission, this figure may be used
by Shareholders as the denominator for the calculation 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.

 

Unless otherwise defined, all capitalised terms used but not defined in this
announcement shall have the meaning given to them in the Circular dated 26
November 2024, a copy of which is available to view on the Company's website,
www.frontierip.co.uk (http://www.frontierip.co.uk) .

ENQUIRIES

 

 Frontier IP Group Plc                                                  T: 020 3968 7815 neil@frontierip.co.uk (mailto:neil@frontierip.co.uk)

 Neil Crabb, Chief Executive

                                                                        M: 07464 546 025

 Andrew Johnson, Communications & Investor Relations                    andrew.johnson@frontierip.co.uk (mailto:andrew.johnson@frontierip.co.uk)

 Company website: www.frontierip.co.uk (http://www.frontierip.co.uk/)

 Allenby Capital Limited (Nominated Adviser)                            T: 0203 328 5656

 Nick Athanas / George Payne

 Singer Capital Markets (Broker)                                        T: 0207 496 3000

 Charles Leigh-Pemberton / James Fischer

 

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
                                                                   Nigel Grierson             Non-Executive Director
                                                                   Professor Dame Julia King  Non-Executive Chair
                                                                   Jacqueline McKay           Chief Operating Officer
                                                                   Joanne Stent               Chief Financial Officer
                                                                   Matthew White              Chief Commercialisation Officer
                                                                   David Holbrook             Non-Executive Director

 

 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  Ordinary Shares of 10p each in Frontier IP Group Plc

      Identification code                                          Identification code (ISIN) for Frontier IP Group Plc ordinary shares:
                                                                   GB00B63PS212
 b)   Nature of the transaction                                    Fundraising for New Ordinary Shares

 c)   Price(s) and volume(s)                                       Price: 28 pence

                                                                   Volumes:

Neil Crabb                 357,143
                                                                   Nigel Grierson             71,429
                                                                   Professor Dame Julia King  357,143
                                                                   Jacqueline McKay           53,571
                                                                   Joanne Stent               53,571
                                                                   Matthew White              89,286
                                                                   David Holbrook             7,143

 

 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      To be completed on 23 December 2024
 f)   Place of the transaction                                     Outside a trading venue

 

 

 

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

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

Fundraising for New Ordinary Shares

 

c)

Price(s) and volume(s)

Price: 28 pence

 

Volumes:

 

 Neil Crabb                 357,143
 Nigel Grierson             71,429
 Professor Dame Julia King  357,143
 Jacqueline McKay           53,571
 Joanne Stent               53,571
 Matthew White              89,286
 David Holbrook             7,143

 

 

d)

Aggregated information

- Aggregated volume

- Price

N/A

 

e)

Date of the transaction

To be completed on 23 December 2024

f)

Place of the transaction

Outside a trading venue

 

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