Cash offer by Science Group plc for Frontier Smart Technologies Group Limited

1. Introduction

It was announced on 1 July 2019 that Science Group would make an offer (the Offer) to acquire the entire issued and to be issued share capital of Frontier at a price of 35 pence per Frontier Share. On 2 July 2019, Science Group published an offer document setting out the full terms and conditions of the Offer (the Offer Document).

2. Level of acceptances

Science Group announces that on 19 July 2019 the Company purchased 416,069 shares in the capital of Frontier at a price of 35 pence per share. Following these purchases, the Company holds a total of 16,662,043 shares in the capital of Frontier, equivalent to 40.8 per cent. of the voting share capital of Frontier.

As at the closure of the Offer at 1.00 p.m. (London time) on 19 July 2019, the Company had received valid acceptances of its Offer in respect of 2,785,388 Frontier shares, representing approximately 6.8 per cent. of the voting share capital of Frontier.

The Company is therefore interested in, in aggregate, 19,447,431 Frontier shares representing approximately 47.6 per cent. of the voting share capital of Frontier.

3. Offer wholly unconditional

Science Group is pleased to declare the Offer wholly unconditional.

4. Offer closed

The Offer and the Panmure Gordon Trading Facility are now closed.

Unless otherwise stated, terms used in this announcement have the same meanings as given to them in the Offer Document.