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.
ENQUIRIES
|
Frontier IP Group Plc
Neil Crabb, Chief
Executive
Andrew Johnson, Communications &
Investor Relations
Company website: www.frontierip.co.uk
|
T: 020
3968 7815 neil@frontierip.co.uk
M: 07464
546 025
andrew.johnson@frontierip.co.uk
|
|
Allenby Capital Limited (Nominated
Adviser)
Nick Athanas / George
Payne
|
T: 0203
328 5656
|
|
Singer Capital Markets
(Broker)
Charles Leigh-Pemberton / James
Fischer
|
T: 0207
496 3000
|
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
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
|