AIM: FIPP
Frontier IP Group Plc
("Frontier IP" or "the Company")
Alusid Limited - Conditional Fundraising
Further to its announcement of 5 February 2015, Frontier IP, which specialises in the commercialisation of university intellectual property, is pleased to announce the first fundraising of its portfolio company, Alusid Ltd ("Alusid"). Alusid has received commitments totalling £266,000 which will be invested in two tranches. Following this investment round, Frontier IP's holding in Alusid will be revalued to show an uplift of over £0.68m. The revaluation will be recognised in Frontier IP's Annual Report & Financial Statements for the year ending 30 June 2015. Frontier IP will hold 39% of the issued share capital of Alusid following the investment of the second tranche.
Frontier IP is also pleased to report that it has entered into an agreement with Alusid to provide advisory services to support the next phase of its development.
Alusid was formed to commercialise an innovative technology which enables industrial waste materials to be turned into environmentally sustainable materials suitable for use in the global construction industry. The new funds are intended to be used for the design and production of its first product and the establishment of a pilot plant.
Tony Attard, Chairman of Alusid, said,
"We are delighted to announce our first round of fund-raising. The new capital will enable us to fund the move into the design and production stage of our first product and our pilot plant. Alusid has the ability to produce products with high design and therefore high value add. The potential markets for the product globally are substantial both in direct exports and licensing."
Neil Crabb, Chief Executive of Frontier IP, said,
"Alusid is a truly innovative company, producing environmentally sustainable construction materials from industrial waste. They also have the potential to reach a global market. This fund-raising, which includes a number of well-known institutional investors, will set them on the next step towards commercialisation."
Enquiries
Frontier IP Group Plc |
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T: 0131 240 1251 |
Neil Crabb, Chief Executive |
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Company website: www.frontierip.co.uk |
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Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker) |
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T: 020 7894 7000 |
Mark Percy / Catherine Leftley, Corporate Finance |
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David Banks, Corporate Broking |
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Peterhouse Corporate Finance Limited (Joint Broker) |
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T: 020 7469 0935 |
Lucy Williams |
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KTZ Communications |
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T: 020 3178 6378 |
Katie Tzouliadis / Deborah Walter |
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Notes to Editor:
Frontier IP Group plc
www.frontierip.co.uk.
Frontier IP specialises in assisting universities, research institutions and companies in the commercialisation and exploitation of their Intellectual Property.
