Business
Trading Update
Trading Update.
About this update from Frontier Ip Group Plc
[{"type":"text","content":"\n \nRNS Number : 5730T Frontier IP Group plc 21 March 2019 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n21 March 2019\n \nFrontier IP Group Plc\n(\"Frontier IP\" or the \"Group\")\n \nTrading update\n \nFrontier IP, a specialist in commercialising university intellectual property, is pleased to provide an update on trading for the year ending 30 June 2019. \n \nThe Group has enjoyed a strong first half to the financial year and since the beginning of 2019 there have been a number of positive portfolio updates as previously announced by the Group. In addition, Frontier IP has earlier today announced that Exscientia, a world leader in AI-driven drug discovery, has secured a significant trade deal with Celgene Corporation. This, combined with other progress Exscientia is making, is expected to result in a substantial uplift in Frontier IP's book value for its holding.\n \nWhilst it is not possible for the Board to be certain on what the overall portfolio valuation will be at 30 June 2019 and progress of early and development stage businesses that constitute Frontier IP's portfolio is inherently uncertain, based on the trading for the year to date and the outlook for the remainder of the financial year the Board anticipates that the outcome for the year ending 30 June 2019 will be ahead of management expectations. \n \nThe Group will be releasing its interim results for the six months to 31 December 2018 by end of March 2019.\n \n\n\n\nENQUIRIES\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nFrontier IP Group Plc\n\n\nT: 0131 240 1251\n\n\n\n\nNeil Crabb, Chief Executive Officer\n\n\n\n\n\n\n\nAndrew Johnson, Communications & Investor Relations\n\n\nM: 07464 546 025\n\n\n\n\n\n\n\n\n\n\n\n\nAllenby Capital Limited (Nominated Adviser and Broker)\n\n\nT: 0203 328 5656 \n\n\n\n\nNick Athanas\n\n\n\n\n\n \n\n\n\n\nNicholas Chambers\n\n\n\n\n\n \n\n\n\n \nABOUT FRONTIER IP: www.frontierip.co.uk\nFrontier IP unites science and commerce by identifying strong intellect...