REG - Frontier Developmnts - Option Grants/PDMR Shareholding

Frontier DevelopmentsAnnouncement

20/03/2023 09:45

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RNS Number : 5160T  Frontier Developments PLC  20 March 2023

20 March 2023

Frontier Developments plc

Director/PDMR Shareholding

Frontier Developments plc (AIM: FDEV, 'Frontier' or the 'Company'), a leading
developer and publisher of videogames based in Cambridge, UK, announces
Director/PDMR transactions in respect to the existing all-staff Sharesave
share option plan (the 'Sharesave Plan').

The Sharesave Plan provides all staff with the opportunity to save towards a
tax efficient share option over 3 years, with a maximum monthly saving of
£500. The option exercise price is set with a 20% discount to market price at
the invitation date.

On 17 March 2023, options were awarded to staff under the latest Sharesave
Plan invitation with an option exercise price of £3.54. This option award
included three Executive Directors, with each Director cancelling their
previous Sharesave Plan savings contract at significantly higher exercise
prices (£9.72 to £19.72). The new options are due to vest on 1 May 2026,
after which they must be exercised within six months.

The following table sets out the lapses and new awards for each Executive
Director, as well as the number of Ordinary Shares of 0.5p each in the Company
held under option by each of the Executive Directors following the
transactions:

 Name of Director  Position                 Number of Options lapsing  Number of Options granted  Total number of share options held under all schemes
 Jonathan Watts    Chief Executive Officer  912                        5,084                      196,674
 Alex Bevis        Chief Financial Officer  912                        5,084                      182,492
 James Dixon       Chief Operating Officer  1,851                      5,084                      45,201

 

 

Enquiries:

Frontier Developments  +44 (0)1223 394 300

Jonny Watts, CEO

Alex Bevis, CFO

 

Liberum - Nomad and Joint Broker  +44 (0)20 3100 2000

Andrew Godber / Kate Bannatyne

 

Jefferies - Joint Broker  +44 (0)20 7029 8000

Philip Noblet / William Brown

 

Tulchan Communications  +44 (0)20 7353 4200

Matt Low / Mark Burgess / Alex Dart

 

About Frontier Developments plc

Frontier is a leading independent developer and publisher of videogames
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
videogame consoles. As well as self-publishing internally developed games,
Frontier also publishes games developed by carefully selected partner studios
under its Frontier Foundry games label.

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 transactions: Grant of 5,084 options over Ordinary Shares of 0.5
             pence each with an exercise price of £3.54 per share. The Options are due to
             vest on 1 May 2026, after which they must be exercised within 6 months.
 c)          Price(s) and volume(s):

Price(s)  Volume(s)
             £3.54     5,084

 d)          Aggregated information:

             N/A - Single transaction
 e)          Date of the transaction: 17 March 2023
 f)          Place of the transaction:  Outside a trading venue

d)

Aggregated information:

N/A - Single transaction

e)

Date of the transaction: 17 March 2023

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 transactions: Grant of 5,084 options over Ordinary Shares of 0.5
             pence each with an exercise price of £3.54 per share. The Options are due to
             vest on 1 May 2026, after which they must be exercised within 6 months.
 c)          Price(s) and volume(s):

Price(s)  Volume(s)
             £3.54     5,084

 d)          Aggregated information:

             N/A - Single transaction
 e)          Date of the transaction: 17 March 2023
 f)          Place of the transaction:  Outside a trading venue

d)

Aggregated information:

N/A - Single transaction

e)

Date of the transaction: 17 March 2023

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 transactions: Grant of 5,084 options over Ordinary Shares of 0.5
             pence each with an exercise price of £3.54 per share. The Options are due to
             vest on 1 May 2026, after which they must be exercised within 6 months.
 c)          Price(s) and volume(s):

Price(s)  Volume(s)
             £3.54     5,084

 d)          Aggregated information:

             N/A - Single transaction
 e)          Date of the transaction: 17 March 2023
 f)          Place of the transaction:  Outside a trading venue

d)

Aggregated information:

N/A - Single transaction

e)

Date of the transaction: 17 March 2023

f)

Place of the transaction:  Outside a trading venue

 

 

 

 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 transactions: Lapse of Options awarded under the Company's
             Sharesave Plan
 c)          Price(s) and volume(s):

Price(s)  Volume(s)
             £19.72    912

 d)          Aggregated information:

             N/A - Single transaction
 e)          Date of the transaction: 17 March 2023
 f)          Place of the transaction:  Outside a trading venue

d)

Aggregated information:

N/A - Single transaction

e)

Date of the transaction: 17 March 2023

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 transactions: Lapse of Options awarded under the Company's
             Sharesave Plan
 c)          Price(s) and volume(s):

Price(s)  Volume(s)
             £19.72    912

 d)          Aggregated information:

             N/A - Single transaction
 e)          Date of the transaction: 17 March 2023
 f)          Place of the transaction:  Outside a trading venue

d)

Aggregated information:

N/A - Single transaction

e)

Date of the transaction: 17 March 2023

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 transactions: Lapse of Options awarded under the Company's
             Sharesave Plan
 c)          Price(s) and volume(s):

Price(s)  Volume(s)
             £9.72     1,851

 d)          Aggregated information:

             N/A - Single transaction
 e)          Date of the transaction: 17 March 2023
 f)          Place of the transaction:  Outside a trading venue

d)

Aggregated information:

N/A - Single transaction

e)

Date of the transaction: 17 March 2023

f)

Place of the transaction:  Outside a trading venue

 

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