Frontier IP Group plc CamGraPhIC loan facility of up to GBP1.5 million (5441E)
08 Julio 2021 - 1:00AM
UK Regulatory
TIDMFIPP
RNS Number : 5441E
Frontier IP Group plc
08 July 2021
RNS
AIM: FIPP
08 July 2021
Frontier IP Group Plc
("Frontier IP" or the "Group")
Portfolio news - CamGraPhIC loan facility of up to GBP1.5
million
Frontier IP, a specialist in commercialising intellectual
property, announces that its portfolio company, CamGraPhIC Limited
("CamGraphIC" or the "Company") has put in place a loan facility
which will provide funding of up to GBP1.5 million to enable
CamGraphIC to accelerate the development of its growth.
Frontier IP has yesterday subscribed for GBP842,810 of loan
notes (the "Loan Notes") pursuant to the loan facility comprising
amounts that have been advanced by Frontier IP to CamGraphIC
between 13 January 2021 and 24 June 2021. The Loan Notes are
interest-bearing, have a three-year term and have 100% warrant
cover.
CamGraphIC is the Group's second graphene spin out from the
University of Cambridge. The Company was formed to develop
graphene-based photonics for high-speed data and
telecommunications. Graphene photonics is seen by the Company's
industrial partners as a key enabler for 5G technologies and has
potential applications in a range of other sectors.
Separate to the loan facility detailed above, Frontier IP has
also previously advanced amounts totalling GBP210,000 to CamGraphIC
under previous loan agreements entered into in 2019 and 2020 to
provide working capital for the Company. As a consequence, as at
the date of this announcement the total amount advanced by Frontier
IP to CamGraphIC is GBP1.05 million.
Frontier IP believes CamGraphIC is making good progress both in
executing its business plan and raising a larger equity funding
round, having recently completed its first equity fundraising of
GBP608,985 in June this year. The COVID-19 pandemic has highlighted
the increasing need for robust data infrastructure and
communications, emphasising the relevance of the Company's
technology.
Frontier IP holds a 26.7 per cent. equity stake in
CamGraphIC.
ENQUIRIES
Frontier IP Group Plc T: 020 3968 7815
Neil Crabb, Chief Executive neil@frontierip.co.uk
Andrew Johnson, Communications & Investor M: 07464 546 025
Relations
Company website: 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
Sandy Fraser / Harry Gooden / George Tzimas
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.
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END
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