REG - Frontier Developmnts - Option grants / PDMR Dealings
24/02/2025 13:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250224:nRSX2340Ya&default-theme=true
RNS Number : 2340Y Frontier Developments PLC 24 February 2025
24 February 2025
Frontier Developments plc
Option grants / PDMR Dealings
On 21 February 2025, Frontier Developments plc (AIM: FDEV, 'Frontier', the
'Company', or the 'Group'), a leading developer and publisher of video games
based in Cambridge, UK, granted a total of 538,000 options over Ordinary
Shares of 0.5p each in the Company ('Ordinary Shares') under the existing Long
Term Incentive Plan ('LTIP') to the four Executive Directors (the 'Options').
The exercise price of the Options under the LTIP is the nominal value of the
Ordinary Shares, being 0.5p each. The Options are due to vest on 21 February
2028, with 50% of the Options vesting subject to the achievement of threshold
targets for revenue, profit and shareholder return over the three year vesting
period, and the remaining 50% vesting on a straight line basis against stretch
targets for the three performance measures.
The Options awarded to the Executive Directors are set out in the table below,
together with the total number of Ordinary Shares held under option by each of
the Executive Directors under all share option schemes.
Name of Director Position Number of LTIP options granted on 21 February 2025 Total number of share options held under all schemes following the grants on
21 February 2025
Jonathan Watts Chief Executive Officer 204,000 380,502
David Braben President and Founder 113,000 196,374
Alexander Bevis Chief Financial Officer 136,000 298,320
James Dixon Chief Operating Officer 85,000 127,627
Enquiries:
Frontier
Developments
+44 (0)1223 394 300
Jonny Watts, CEO
Alex Bevis,
CFO
Peel Hunt - Nomad and Joint Corporate
Broker +44 (0)20
7418 8900
Neil Patel / Ben Cryer / Kate
Bannatyne
Panmure Liberum - Joint Corporate
Broker +44
(0)20 3100 2000
Max Jones / Nikhil Varghese
Teneo
+44 (0)20 7353 4200
Matt Low / Arthur Rogers
About Frontier Developments plc
Frontier is a leading independent developer and publisher of video games
founded in 1994 by David Braben, co-author of the iconic Elite game. Based in
Cambridge, Frontier uses its proprietary COBRA game development technology to
create innovative genre-leading games, primarily for personal computers and
video game consoles.
Frontier's LEI number: 213800B9LGPWUAZ9GX18.
www.frontier.co.uk (http://www.frontier.co.uk/)
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY
ASSOCIATED PERSONS
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Jonathan Watts
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 Developments plc
b) LEI: 213800B9LGPWUAZ9GX18
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: Ordinary shares
of 0.5p each.
Identification code: GB00BBT32N39
b) Nature of the transaction: Grant of 204,000 options over Ordinary Shares of
0.5 pence each with an exercise price of 0.5 pence per share. The Options are
due to vest after three years (subject to performance conditions) and must be
exercised within 10 years from the date of award.
c) Price(s) and volume(s):
Price(s) Volume(s)
0.5p 204,000
d) Aggregated information:
N/A - Single transaction
e) Date of the transaction: 21 February 2025
f) Place of the transaction: Outside a trading venue
d)
Aggregated information:
N/A - Single transaction
e)
Date of the transaction: 21 February 2025
f)
Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name: David Braben
2. Reason for the notification
a) Position/status: President and Founder
b) Initial notification/Amendment: Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name: Frontier Developments plc
b) LEI: 213800B9LGPWUAZ9GX18
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: Ordinary shares
of 0.5p each.
Identification code: GB00BBT32N39
b) Nature of the transaction: Grant of 113,000 options over Ordinary Shares of
0.5 pence each with an exercise price of 0.5 pence per share. The Options are
due to vest after three years (subject to performance conditions) and must be
exercised within 10 years from the date of award.
c) Price(s) and volume(s):
Price(s) Volume(s)
0.5p 113,000
d) Aggregated information:
N/A - Single transaction
e) Date of the transaction: 21 February 2025
f) Place of the transaction: Outside a trading venue
d)
Aggregated information:
N/A - Single transaction
e)
Date of the transaction: 21 February 2025
f)
Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Alexander Bevis
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 Developments plc
b) LEI: 213800B9LGPWUAZ9GX18
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: Ordinary shares
of 0.5p each.
Identification code: GB00BBT32N39
b) Nature of the transaction: Grant of 136,000 options over Ordinary Shares of
0.5 pence each with an exercise price of 0.5 pence per share. The Options are
due to vest after three years (subject to performance conditions) and must be
exercised within 10 years from the date of award.
c) Price(s) and volume(s):
Price(s) Volume(s)
0.5p 136,000
d) Aggregated information:
N/A - Single transaction
e) Date of the transaction: 21 February 2025
f) Place of the transaction: Outside a trading venue
d)
Aggregated information:
N/A - Single transaction
e)
Date of the transaction: 21 February 2025
f)
Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name: James Dixon
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 Developments plc
b) LEI: 213800B9LGPWUAZ9GX18
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: Ordinary shares
of 0.5p each.
Identification code: GB00BBT32N39
b) Nature of the transaction: Grant of 85,000 options over Ordinary Shares of 0.5
pence each with an exercise price of 0.5 pence per share. The Options are due
to vest after three years (subject to performance conditions) and must be
exercised within 10 years from the date of award.
c) Price(s) and volume(s):
Price(s) Volume(s)
0.5p 85,000
d) Aggregated information:
N/A - Single transaction
e) Date of the transaction: 21 February 2025
f) Place of the transaction: Outside a trading venue
d)
Aggregated information:
N/A - Single transaction
e)
Date of the transaction: 21 February 2025
f)
Place of the transaction: Outside a trading venue
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END DSHEAAALAFESEFARecent news on Frontier Developments
See all newsREG - Frontier Developmnts - Block Listing Return
AnnouncementREG - Frontier Developmnts - Option grants / PDMR Dealings
AnnouncementREG - Frontier Developmnts - FY25 H1 Results – a strong turnaround
AnnouncementREG - Frontier Developmnts - Notice of Results
AnnouncementREG - Frontier Developmnts - Result of AGM
Announcement