Result of Placing and Subscription

Frontier IP Group plc (AIM: FIPP), a specialist in commercialising intellectual property, is pleased to announce that further to the announcement made at 7.01 a.m. today (the "Launch Announcement"), the Placing has successfully closed at the Issue Price of 28 pence per share. The Company has conditionally raised gross proceeds of approximately £2.8 million in the Placing through the issue of 10,005,118 Placing Shares (comprising 357,146 Firm Placing Shares and 9,647,972 Conditional Placing Shares) and has conditionally raised gross proceeds of approximately £0.3 million in the Subscription through the issue of 1,042,857 Subscription Shares. Together, the Placing and the Subscription have conditionally raised gross proceeds of approximately £3.1 million.

Singer Capital Markets acted as sole bookrunner in connection with the Placing.

In addition to the Placing and the Subscription, a separate conditional Retail Offer being conducted by PrimaryBid to raise further proceeds of up to £1.0 million (before expenses) is open and is expected to close at 5.00 p.m. on 25 November 2024.

The Firm Placing is conditional upon, inter alia, First Admission becoming effective. The Placing and Subscription are conditional upon, inter alia, the Placing Agreement not having been terminated and becoming unconditional. The Conditional Fundraising is conditional, inter alia, upon Second Admission becoming effective and the Fundraising Resolutions required to implement the Conditional Fundraising being duly passed by Shareholders at the Company's AGM to be held at Mantle Space Offices, Nine Hills Road, Cambridge, CB2 1GE at 11.00 a.m. on 19 December 2024.

Neil Crabb, CEO of Frontier IP, said:

"I am delighted by the success of this placing in what has been a very difficult environment for AIM-quoted and early-stage companies. The positive outcome reflects the underlying strength of our business model, the potential of our portfolio and in particular its increasing maturity. Although the outlook remains uncertain, I am encouraged by the progress we and our portfolio companies have made this year and remain optimistic about future prospects."

Admission, Settlement and Dealings

Application will be made for admission of the 357,146 Firm Placing Shares to trading on AIM and it is expected that First Admission will become effective and dealings in the Firm Placing Shares will commence at 8.00 a.m. on 28 November 2024. Immediately following First Admission, the issued share capital of the Company is expected to comprise 56,524,092 Ordinary Shares. Each Ordinary Share has one voting right and no Ordinary Shares are held in treasury. Accordingly, immediately following First Admission, the total number of voting rights in the Company will be 56,524,092. From First Admission, this figure may be used by Shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Application will be made to the London Stock Exchange for the Conditional Fundraising Shares to be admitted to trading on AIM. Subject to the passing of the Fundraising Resolutions at the AGM, it is expected that Second Admission will become effective and dealings in the Conditional Fundraising Shares will commence at 8.00 a.m. on 23 December 2024, at which time it is also expected that the Conditional Fundraising Shares will be enabled for settlement in CREST.

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