Frontier IP completes £3m share issue

Edinburgh-based Frontier IP, which specialises in the commercialisation of intellectual property, has completed a £3 million share issue to accelerate its growth in the UK and overseas.

The placing of 7.5 million ordinary shares was conducted by the company’s nominated adviser and joint broker, Cenkos Securities plc., with legal advice from HBJ Gateley.

In a statement, Frontier IP said the fundraising will enable it to continue to develop and grow its portfolio, key relationships and allied advisory roles.

Application has been made for the placing shares, which will rank pari passu with the company’s existing ordinary shares, to be admitted to trading on AIM on 22 March 2017.

Following the transaction, the company’s total issued share capital will comprise 38,278,520 ordinary shares, each with voting rights.

Neil Crabb, chief executive officer of Frontier IP, said: “We are delighted to announce the successful completion of this fundraising, which was over-subscribed, and welcome the support of both existing and new investors.

“Frontier IP is now well-positioned to accelerate its growth through the development of its existing portfolio and the identification and development of new opportunities in the UK and beyond.”