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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Frontier IP Group PLC | AQSE:FIPP.GB | Aquis Stock Exchange | Ordinary Share | GB00B63PS212 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 27.00 | 25.00 | 29.00 | 27.00 | 27.00 | 27.00 | 0.00 | 06:58:39 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jan 2023 to Jan 2025
TIDMFIPP
RNS Number : 2648S
Frontier IP Group plc
03 November 2023
AIM: FIPP
3 November 2023
Frontier IP Group plc
("Frontier IP" or the "Group")
Grant of options
Frontier IP, a specialist in commercialising intellectual property, announces that, on 2 November 2023, the Board granted options over a total of 836,019 ordinary shares of 10 pence each in the Company ("Ordinary Shares") to certain Executive Directors and personnel of the Company (the "Options").
The Options have been granted through a combination of:
(i) grants under the Frontier IP Group plc Unapproved Share Option Plan 2021, which includes the terms of the Long-Term Incentive Plan (the "LTIP") details of which were approved by shareholders at the annual general meeting of the Group held on 9 December 2022; and
(ii) grants under the Company's approved Company Share Option Plan (the "CSOP").
A total of 666,838 grants have been made under the terms of the Company's Unapproved Share Option Plan (the "LTIP Grants"), structured as grants of nominal cost options and at a price of 10 pence per share. The exercise period of the LTIP Grants commences on 2 November 2026 and expires on 1 November 2033. Further details on the LTIP and the vesting criteria are set out below.
A total of 169,181 Options have been granted under the CSOP (the "CSOP Grants") with an exercise price of 44.5 pence per share, being the closing mid-market price of an existing ordinary share on 1 November 2023, the business day prior to the grant date. The exercise period of the CSOP Grants commences on 2 November 2026 and expires on 1 November 2033.
The Options granted represent a total of 1.5% of the current issued share capital of the Company.
The Options have been granted as follows:
Hot Features
Premium
Name Position Number of Number of grants Total options
grants under under CSOP over Ordinary
Unapproved Shares held
Share Option following grant
Plan
Chief Executive
Neil Crabb Officer 149,656 - 1,250,123
Chief Operating
Jackie McKay Officer 108,551 - 896,269
Chief Financial
Jim Fish Officer 119,725 - 1,169,127
Chief Commercialisation
Matthew White Officer 119,725 - 674,127
Other Company
personnel 169,181 169,181
Total Options
granted 666,838 169,181
The Options have been granted in line with the aim of the Company's remuneration policy which is to incentivise and reward appropriately in order to attract and retain the best people in support of the Group's strategy.
Following the grants detailed above, the Company now has a total of 5,675,318 options outstanding over Ordinary Shares, representing 10.15% of the Company's current issued share capital.
Background and details on LTIP
At the Company's 2022 annual general meeting, the Board received the approval of shareholders for the terms of the LTIP. The LTIP is based on annual awards of performance shares, structured as nominal cost options, with vesting linked 70% to net asset value per share and 30% to total shareholder return measured over 3 financial years.
In order to enable such grants, the terms of the previous unapproved option plan rules were amended to reflect the terms of the LTIP.
The LTIP rules include:
1. a limit of 15% of issued share capital at time of grant on the number of shares that have been issued, or transferred out of treasury, on the exercise of options granted, and in satisfaction of any other awards made under the share schemes operated by the Company during the period of ten years ending on the grant date with no limit to the number of nil or nominal cost awards within the 15% limit; and
2. LTIP participants include the executive directors and other Group employees; allocations are made annually from an aggregate award pool, which is limited in size to ensure sufficient shares are available to grant in future years without exceeding the Group's dilution limit of 15% of issued share capital over the prior ten years. The LTIP includes an individual grant limit of 200% of salary in any financial year.
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
a) Name Neil Crabb
------------------------------ -----------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------ -----------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------ -----------------------------------
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 Options over ordinary shares of
instrument, type of 10p each in Frontier IP Group Plc
instrument
Identification code Identification code (ISIN) for
Frontier IP Group Plc ordinary
shares: GB00B63PS212
------------------------------ -----------------------------------
b) Nature of the transaction Grant of options
------------------------------ -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
10p 149,656
----------
------------------------------ -----------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------ -----------------------------------
e) Date of the transactions 2 November 2023
------------------------------ -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ -----------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jackie McKay
------------------------------ -----------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Chief Operating Officer
------------------------------ -----------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------ -----------------------------------
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 Options over ordinary shares of
instrument, type of 10p each in Frontier IP Group Plc
instrument
Identification code Identification code (ISIN) for
Frontier IP Group Plc ordinary
shares: GB00B63PS212
------------------------------ -----------------------------------
b) Nature of the transaction Grant of options
------------------------------ -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
10p 108,551
----------
------------------------------ -----------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------ -----------------------------------
e) Date of the transactions 2 November 2023
------------------------------ -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ -----------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Fish
------------------------------ -----------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Chief Financial Officer
------------------------------ -----------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------ -----------------------------------
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 Options over ordinary shares of
instrument, type of 10p each in Frontier IP Group Plc
instrument
Identification code Identification code (ISIN) for
Frontier IP Group Plc ordinary
shares: GB00B63PS212
------------------------------ -----------------------------------
b) Nature of the transaction Grant of options
------------------------------ -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
10p 119,725
----------
------------------------------ -----------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------ -----------------------------------
e) Date of the transactions 2 November 2023
------------------------------ -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ -----------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Matthew White
------------------------------ -----------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Chief Commercialisation Officer
------------------------------ -----------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------ -----------------------------------
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 Options over ordinary shares of
instrument, type of 10p each in Frontier IP Group Plc
instrument
Identification code Identification code (ISIN) for
Frontier IP Group Plc ordinary
shares: GB00B63PS212
------------------------------ -----------------------------------
b) Nature of the transaction Grant of options
------------------------------ -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
10p 119,725
----------
------------------------------ -----------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------ -----------------------------------
e) Date of the transactions 2 November 2023
------------------------------ -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ -----------------------------------
ENQUIRIES
Frontier IP Group Plc T: 020 3968 7815 Neil Crabb, Chief Executive neil@frontierip.co.uk Andrew Johnson, Communications and Investor M: 07464 546 025 Relations andrew.johnson@frontierip.co.uk Company website: www.frontierip.co.uk Allenby Capital Limited (Nominated Adviser) T: 0203 328 5656 Nick Athanas / George Payne Singer Capital Markets (Broker) T: 0207 496 3000 Harry Gooden / James Fischer
ABOUT FRONTIER IP
Frontier IP unites science and commerce by identifying strong intellectual property and accelerating its development through a range of commercialisation services. A critical part of the Group's work is involving relevant industry partners at an early stage of development to ensure technology meets real world demands and needs.
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
DSHFSFEFEEDSEDF
(END) Dow Jones Newswires
November 03, 2023 03:05 ET (07:05 GMT)
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