Business
Admission to AIM
Admission to AIM.
About this update from Frontier Ip Group Plc
[{"type":"text","content":"\n RNS Number : 3166A Frontier IP Group plc 31 January 2011 \n \n\nFIPP\n \nFrontier IP Group Plc\n(\"Frontier IP\" or \"the Company\")\n \nAdmission to AIM\n \n· Shares in Frontier IP, which specialises in the commercialisation of university intellectual property, today begin trading on AIM.\n \n· Frontier IP has raised £1.0 million (gross) by way of a placing of 2,000,000 New Ordinary Shares (\"Placing\") at 50 pence per share (\"Placing Price\"). The net proceeds will provide working capital to support new commercialisation relationships and complementary advisory roles and capital commitments to new funds to be launched in the foreseeable future.\n \n· Arbuthnot Securities Limited is acting as nominated adviser and broker to Frontier IP in relation to the Placing and Admission to AIM.\n \n· At the Placing Price, Frontier IP's market capitalisation will be approximately £3.5m.\n \n· The Board believes that the Placing and Admission to AIM should assist the Company in its continued development. Expected benefits include: enhanced brand and market recognition; increased liquidity; improved funding opportunities and greater flexibility in executing possible acquisitions and investment opportunities.\n \n· The Company already has two existing long term relationship agreements, with the University of Dundee and Robert Gordon University, Aberdeen. Under the terms of these agreements, Frontier IP has preferential access to spin-out opportunities to generate equity and licensing revenue and has established a fledgling portfolio of equity. In addition, in 2009, the Company launched dedicated funds for each university relationship, in line with its strategy to generate revenues from long term venture funds.\n \n· It is the Board's intention to seek other university relationships throughout the UK and a number of discussions are already underway with other universities and research institutions.\n \n· The Board also believes that in addition to the acquisition of new relationships, there...