AIM Schedule 1 update - Frontier Resources Intl. PLC (9822D)

TIDMFRI

RNS Number : 9822D

AIM

12 July 2016

 
            ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT 
              PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 
            2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") 
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 COMPANY NAME: 
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 Frontier Resources International PLC (to 
  be renamed Concepta PLC on Admission) 
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 COMPANY REGISTERED OFFICE ADDRESS AND IF 
  DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING 
  POSTCODES) : 
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 Registered Address : 514 Metal Box Factory, 
  30 Great Guildford Street, London SE1 0HS 
 
  Trading Address: The Exchange, Colworth Park, 
  Sharnbrook, Bedfordshire MK44 1LQ 
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 COUNTRY OF INCORPORATION: 
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 United Kingdom 
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 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION 
  REQUIRED BY AIM RULE 26: 
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 At present : www.friplc.com (to change to 
  www.conceptaplc.com post Admission) 
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 COMPANY BUSINESS (INCLUDING MAIN COUNTRY 
  OF OPERATION) OR, IN THE CASE OF AN INVESTING 
  COMPANY, DETAILS OF ITS INVESTING POLICY). 
  IF THE ADMISSION IS SOUGHT AS A RESULT OF 
  A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD 
  BE STATED: 
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 The Company will be the holding company for 
  Concepta Diagnostics Limited, Concepta Diagnostics 
  Limited is a Healthcare company operating 
  in the area of fertility and, more specifically, 
  in the niche market segment of unexplained 
  fertility. Concepta's products target the 
  personalised mobile health market. 
 
  Concepta's current offices and head offices 
  are based in Colworth, Bedfordshire and York, 
  Yorkshire. The main country of operation, 
  in which its proprietary disposable test 
  strips are assembled and manufactured is 
  the U.K, with its meters used for reading 
  the strips are sub-contracted for manufacture 
  to the People's Republic of China (PRC). 
  Concepta is targeting sales initially into 
  PRC, the UK and the rest of the European 
  Union. 
 
  Admission is being sought as a result of 
  a reverse takeover under AIM Rule 14. 
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 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING 
  ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES 
  (i.e. where known, number and type of shares, 
  nominal value and issue price to which it 
  seeks admission and the number and type to 
  be held as treasury shares): 
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   Ordinary shares of GBP0.025 each (following 
   a 250 to 1 share consolidation of existing 
   shares of GBP0.0001); Nil shares to be held 
   as treasury shares. 
 
   109,160,573 ordinary shares of GBP0.025 to 
   be admitted (of which 5,200,000,000 existing 
   shares of GBP0.0001 are currently admitted 
   to trading - these will consolidate into 
   20,800,000 ordinary shares of GBP0.025); 
   30,343,950 new ordinary shares of GBP0.025 
   are to be issued as consideration for the 
   Acquisition; 10,833,333 new ordinary shares 
   of GBP0.025 are to be issued in respect of 
   conversion of outstanding debt within Concepta; 
   32,050,342 new ordinary shares of GBP0.025 
   are to be issued in a firm placing with institutional, 
   other investors and vendors of Concepta raising 
   GBP2.40 million, 1,373,330 new ordinary shares 
   are to be subscribed by Concepta employees 
   raising GBP0.103 million, and 13,759,618 
   new ordinary shares of GBP0.025 are to be 
   issued in a conditional placing with clawback 
   in an open offer to existing shareholders 
   (with excess applications permitted) to raise 
   up to GBP1.03m. 
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 CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) 
  AND ANTICIPATED MARKET CAPITALISATION ON 
  ADMISSION: 
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 Amount of new monies to be raised on Admission 
  : cGBP3.53 million, comprising GBP2.40 million 
  in a firm placing, GBP0.10 million in the 
  Subscription and GBP1.03 million in a conditional 
  placing with clawback in an open offer to 
  existing shareholders. 
 
  Market Capitalisation on Admission of cGBP8.19 
  million based on the placing price of GBP0.075 
  per new ordinary share. 
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 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC 
  HANDS AT ADMISSION: 
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 c55.0% 
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 DETAILS OF ANY OTHER EXCHANGE OR TRADING 
  PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED 
  OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING 
  ITS AIM SECURITIES) ADMITTED OR TRADED: 
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 N/A 
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 FULL NAMES AND FUNCTIONS OF DIRECTORS AND 
  PROPOSED DIRECTORS (underlining the first 
  name by which each is known or including 
  any other name by which each is known): 
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 Existing Board 
  Adam Reynolds (Non-executive Chairman) 
  Barbara Joyce Spurrier (Financial Director) 
  Neil Lindsey Herbert (Non-executive Director) 
 
  Proposed Board 
  Adam Reynolds (Non-executive Chairman) 
  Barbara Joyce Spurrier (Financial Director) 
  Neil Lindsey Herbert (Non-executive Director) 
  Erik Georges Henau (Chief Executive) 
  Mark Andrew Wyatt (Non-executive Director) 
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 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS 
  EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE 
  CAPITAL, BEFORE AND AFTER ADMISSION (underlining 
  the first name by which each is known or 
  including any other name by which each is 
  known): 
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                         Pre-Admission*(1)     Post Admission*(1) 
  ---------------------  --------------------  --------------------- 
   Shareholder            Number         %      Number        % 
  ---------------------  -------------  -----  ------------  ------- 
   Mr Paul Levinson       333,000,000    6.45    1,332,000     <3% 
  ---------------------  -------------  -----  ------------  ------- 
   Mr Christopher 
    Potts                 473,333,333    9.17    1,893,333     <3% 
  ---------------------  -------------  -----  ------------  ------- 
   Finance Yorkshire 
    Seedcorn 
    Fund                       -          -     12,699,997    11.63% 
  ---------------------  -------------  -----  ------------  ------- 
   Angel CoFund                -          -     11,668,267    10.69% 
  ---------------------  -------------  -----  ------------  ------- 
   Mercia Technologies 
    PLC                        -          -     19,999,999    18.32% 
  ---------------------  -------------  -----  ------------  ------- 
 
  *(1) Pre-Admission shows existing ordinary 
  shares of GBP0.0001; and Post Admission shows 
  new ordinary shares of GBP0.025 (following 
  a share consolidation of 250:1) 
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 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE 
  WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM 
  RULES: 
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 N/A 
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 (i) ANTICIPATED ACCOUNTING REFERENCE DATE 
  (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION 
  IN THE ADMISSION DOCUMENT HAS BEEN PREPARED 
  (this may be represented by unaudited interim 
  financial information) 
  (iii) DATES BY WHICH IT MUST PUBLISH ITS 
  FIRST THREE REPORTS PURSUANT TO AIM RULES 
  18 AND 19: 
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        i. 31 December 
        ii. 31 January 2016 - audited financial information 
        Concepta Diagnostics Limited; 
        31 December 2015 - audited financial information 
        (Frontier Resources 
        International PLC); 
        iii. 30 September 2016, 30 June 2017; 30 
        September 2017 
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 EXPECTED ADMISSION DATE: 
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  26 July 2016 
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 NAME AND ADDRESS OF NOMINATED ADVISER: 
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   SPARK Advisory Partners Limited 
   5 St John's Lane 
   London 
   EC1M 4BH 
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 NAME AND ADDRESS OF BROKERS: 
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   Beaufort Securities Limited 
   131 Finsbury Pavement 
   London EC2A 1NT 
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 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, 
  DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) 
  THE ADMISSION DOCUMENT WILL BE AVAILABLE 
  FROM, WITH A STATEMENT THAT THIS WILL CONTAIN 
  FULL DETAILS ABOUT THE APPLICANT AND THE 
  ADMISSION OF ITS SECURITIES: 
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   SPARK Advisory Partners Limited 
   5 St John's Lane 
   London 
   EC1M 4BH 
 
   The admission document contains full details 
   about the applicant and the admission of 
   its securities 
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 DATE OF NOTIFICATION: 

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 12 July 2016 
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 NEW/ UPDATE: 
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July 12, 2016 10:30 ET (14:30 GMT)