15th May 2019 07:00
15 May 2019
Frontier IP Group Plc
("Frontier IP" or the "Group")
Exercise of options by a director
Notification of a transaction by Director/PDMR shareholdings and
Change to total voting rights
Frontier IP, a specialist in commercialising university intellectual property, announces that David Cairns (Portfolio Director) has, on 14 May 2019, exercised options over a total of 325,000 ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares"). The options had been granted to David Cairns under the Frontier IP Group plc Employee Share Option Scheme 2011 and have been exercised as follows:
Grant Date | Number of Options | Exercise Price |
15 January 2013 | 195,782 | 15.00p |
1 April 2014 | 54,218 | 26.88p |
7 April 2016 | 75,000 | 26.63p |
Application will be made to the London Stock Exchange for admission to trading of 325,000 new Ordinary Shares and dealings on AIM are expected to become effective on 21 May 2019 ("Admission"). The New Ordinary Shares rank, pari passu, in all respects with the Company's existing ordinary shares
At Admission David Cairns will be beneficially interested in 1,165,238 Ordinary Shares in Frontier IP, equal to approximately 2.75 per cent. of the issued share capital and voting rights of the Company.
Total Voting Rights
Following Admission, the issued share capital of the Company will consist of 42,431,372 ordinary shares of 10p each ("Ordinary Shares"), with one voting right per share. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 42,431,372.
From Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below and gives further details on the transactions described above.
ENQUIRIES
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Frontier IP Group Plc | T: 0131 240 1251 | |
Neil Crabb, Chief Executive Officer | ||
Andrew Johnson, Communications & Investor Relations | M: 07464 546 025 | |
Allenby Capital Limited (Nominated Adviser and Broker) | T: 0203 328 5656 | |
Nick Athanas |
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Nicholas Chambers |
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ABOUT FRONTIER IP: www.frontierip.co.uk
Frontier IP unites science and commerce by identifying strong intellectual property and accelerating its development through a range of commercialisation services.
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
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a)
| Name | David Cairns | ||||
2
| Reason for the notification | |||||
a)
| Position/status
| Director (PDMR) | ||||
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
GB00B63PS212 | ||||
b)
| Nature of the transaction | Exercise of options | ||||
c)
| Price(s) and volume(s) |
| ||||
d)
| Aggregated information - Aggregated volume - Price | n/a
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Related Shares:
Frontier Ip