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15 April 2009 |
Frontier IP Group Plc - Admission | 13 May 2009 |
Frontier IP Group Plc (formerly ARH Leisure Investments Plc ("the Company"))
Admission of Enlarged Share Capital to trading on PLUS-quoted Market
Terms and expressions used in this announcement shall, unless the context otherwise requires, have the same meaning as given to them in the Admission Document dated 15 April 2009.
Frontier IP Group Plc, which specialises in the commercialisation of intellectual property developed by universities is pleased to announce admission of the following Ordinary Shares of 0.1 penny ranking pari passu to trading on the PLUS-quoted Market, following the General Meeting held on 11 May 2009 where all resolutions were duly passed:
• 350,000,000 Consideration Shares issued to the Vendor under the Acquisition Agreement;
• Re-admission of 69,000,000 Existing Ordinary Shares;
• 3,300,000 Placing Shares issued at 1p per Ordinary Share pursuant to the Placing; and
• 14,916,495 Finders Shares issued pursuant to the engagement letter referred to in the Admission Document dated 15 April 2009.
There are now a total of 497,216,495 Ordinary Shares of 0.1p each in issue.
On Admission, Frontier IP Group Plc has approximately £980,000 (gross of expenses).
Frontier IP Group is also delighted to announce today that Tim Cockroft has been appointed as an independent Non-Executive Director in line with the Group’s stated strategy to enhance the Board. Tim, aged 41, is currently Chief Executive of Singer Capital Markets Limited, the independent stockbroking business. He was previously CEO of KBC Peel Hunt Limited, having been a founding member of Peel Hunt Limited in 1989. Tim’s full list of directorships is listed below.
Neil Crabb, non-executive Chairman of Frontier IP Group, said,
"We believe that the Group is well positioned to benefit from the exciting opportunities for further growth within the IP commercialisation sector. The PLUS Market listing, along with the Group’s strengthened cash resources, will support the Group’s accelerated growth. In addition, I am delighted to welcome Tim Cockroft to the Board today as a Non-executive Director. Tim has a wealth of experience advising small cap companies and I am sure that his expertise will prove invaluable as we continue to build on our progress to date."
Tim Cockroft said,
"Frontier IP Group is at an exciting stage in its development, with the foundations in place to take advantage of the opportunities in the university IP commercialisation sector, I look forward to working with the team to achieve the Group’s potential."
Enquiries:
Frontier IP Group Plc
T: 0131 220 9444
Neil Crabb, Non-Executive
Chairman
Biddicks
T: 020 7448 1000
Katie Tzouliadis/Sophie Lane
Ruegg & Co Limited
T: 020 7584 3663
Gavin Burnell/Brett Miller
For further information please contact:
Alister Minty
Managing Director
Frontier IP Group plc
41 Charlotte Square
Edinburgh
EH2 4HQ
Tel: 0131 220 9491
Fax: 0131 220 9445
Email: alister@frontierip.co.uk