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FRONTIER IP GROUP PLC
Remuneration Information • Nov 5, 2020
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Remuneration Information
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National Storage Mechanism | Additional information 
RNS Number : 4259E
Frontier IP Group plc
05 November 2020
5 November 2020
Frontier IP Group plc
("Frontier IP" or the "Company")
Grant of Options
Frontier IP Group plc (AIM: FIPP), a specialist in commercialising intellectual property, announces that, on 5 November 2020, the Board granted options over 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 pursuant to the Company's share option scheme, the Frontier IP Group plc Employee Share Option Scheme 2011 as adopted by the Board of Directors of the Company on 30 November 2012 and amended by the Board of Directors of the Company on 26 March 2018. Certain of the Options have an exercise price of 65 pence, being the closing mid-market price of an existing ordinary share on 4 November 2020, and certain Options have been granted at an exercise price of 10 pence, being the nominal value of an Ordinary Share.
The Options have been granted as follows:
| Name | No. of Options granted with exercise price of 65p | No. of Options granted with exercise price of 10p | Total options over Ordinary Shares held following grant |
| Neil Crabb | 28 | 102,204 | 1,528,982 |
| Jackie McKay | 5,477 | 78,542 | 924,214 |
| Jim Fish | 2,268 | 81,751 | 924,214 |
| Matthew White | 36,200 | 47,819 | 429,214 |
| Other Company personnel | 394,569 | - | 1,223,557 |
| Total Options | 438,542 | 310,316 | 5,030,181 |
At the Company's 2017 AGM, the Board received the approval of shareholders for certain amendments to the Company's Employee Share Option Scheme 2011, including allowing the grant of options at nominal cost. 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.
The exercise period commences on the third anniversary of the date of grant and expires on the day preceding the tenth anniversary thereof. Following today's grant, the Company now has a total of 5,030,181 options outstanding over Ordinary Shares, representing 9.1% of the Company's current issued share capital. Following the revisions to the Employee Share Option Scheme 2011 and the passing of the resolutions at the Company's 2017 AGM, the maximum number of Ordinary Shares that may be subject to options in any ten-year period is 15% of the issued ordinary share capital.
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 /Amendment
Initial notification
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 instrument, type of instrument
Identification code
Options over ordinary shares of 10p each in Frontier IP Group Plc
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) |
| 65 pence | 28 |
| 10 pence | 102,204 |
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transactions
5 November 2020
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 /Amendment
Initial notification
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 instrument, type of instrument
Identification code
Options over ordinary shares of 10p each in Frontier IP Group Plc
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) |
| 65 pence | 5,477 |
| 10 pence | 78,542 |
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transactions
5 November 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Jim Fish
2
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification /Amendment
Initial notification
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 instrument, type of instrument
Identification code
Options over ordinary shares of 10p each in Frontier IP Group Plc
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) |
| 65 pence | 2,268 |
| 10 pence | 81,751 |
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transactions
5 November 2020
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 /Amendment
Initial notification
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 instrument, type of instrument
Identification code
Options over ordinary shares of 10p each in Frontier IP Group Plc
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) |
| 65 pence | 36,200 |
| 10 pence | 47,819 |
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transactions
5 November 2020
f)
Place of the transaction
Outside a trading venue
The information set out in this announcement is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
Enquiries
| Frontier IP Group plc | 0207 332 2338 | |
| Neil Crabb, Chief Executive | ||
| Andrew Johnson, Communications & Investor Relations | 07464 546 025 | |
| www.frontierip.co.uk | ||
| Allenby Capital Limited (Nominated Adviser) | 0203 328 5656 | |
| Nick Athanas / James Hornigold | ||
| N+1 Singer (Broker) | 0207 496 3000 | |
| Harry Gooden / George Tzimas |
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.
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