REG - Frontier IP Group - Result of Retail Offer

Frontier IPAnnouncement

26/11/2024 07:00

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RNS Number : 5944N  Frontier IP Group plc  26 November 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
EU REGULATION 596/2014 (AS AMENDED) (WHICH FORMS PART OF DOMESTIC UK LAW
PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED)). UPON THE
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Frontier IP Group plc

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

 

Result of Retail Offer

 

Fronter IP Group plc (AIM: FIPP), a specialist in commercialising intellectual
property, announced at 7.01 a.m. on 22 November 2024 (the "Launch
Announcement") the launch of a Fundraising comprising the Placing and
Subscription in conjunction with the Retail Offer via PrimaryBid (the "Retail
Offer", together with the Placing and Subscription, the "Fundraising").

 

The Company is pleased to announce that the Retail Offer successfully
completed and closed at 5.00 p.m. on 25 November 2024 and that it has
conditionally raised approximately £0.5 million in the Retail Offer through
the issue of 1,683,286 Retail Shares at the Issue Price of 28 pence per share.

 

Following the closing of the Retail Offer, the Company has conditionally
raised gross proceeds of approximately £3.6 million at the Issue Price via
the Fundraising. The Company will therefore be required to issue and allot a
total of 12,731,261 New Ordinary Shares to satisfy the Fundraising. The Retail
Offer is conditional upon the Fundraising Resolutions being duly passed
without amendment at the Company's AGM to be held on 19 December 2024 and
Second Admission becoming effective at 8.00 a.m. on 23 December 2024 (or such
later date as the Company and Singer Capital Markets may agree, but not later
than 30 December 2024).

 

Capitalised terms used in this announcement shall, unless defined in this
announcement or unless the context provides otherwise, bear the same meaning
ascribed to such terms in the Launch Announcement.

 

Admission and Total Voting Rights

 

Application will be 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 is expected to 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.

 

 

Enquiries
 
 Frontier IP Group Plc                                                 T: 020 3968 7815

 Neil Crabb, Chief Executive                                            neil@frontierip.co.uk (mailto:neil@frontierip.co.uk)

 Andrew Johnson, Communications & Investor Relations                   M: 07464 546 025

 Company website: www.frontierip.co.uk (http://www.frontierip.co.uk)   andrew.johnson@frontierip.co.uk (mailto:andrew.johnson@frontierip.co.uk)

 PrimaryBid Limited                                                    enquiries@primarybid.com (mailto:enquiries@primarybid.com)

 Nick Smith/James Deal
 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

 

 

Important Information

 

This Announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America. This Announcement is not
an offer of securities for sale into the United States. The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States, except pursuant to an applicable exemption from registration.
No public offering of securities is being made in the United States.

This Announcement and the information contained herein, is restricted and is
not for publication, release or distribution, directly or indirectly, in whole
or in part, in or into Australia, Canada, the Republic of South Africa, Japan
or any other jurisdiction in which such publication, release or distribution
would be unlawful. Further, this Announcement is for information purposes only
and is not an offer of securities in any jurisdiction.

 

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