REG - Frontier Developmnts - Share Options and Director/PDMR Dealings

Frontier DevelopmentsAnnouncement

09/10/2023 07:15

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RNS Number : 8395O  Frontier Developments PLC  09 October 2023

9 October 2023

Frontier Developments plc

Share Options and Director/PDMR Dealings

Frontier Developments plc (AIM: FDEV, 'Frontier' or the 'Company'), a leading
developer and publisher of videogames based in Cambridge, UK, confirms the
vesting outcomes for LTIP (Long Term Incentive Plan) share options over
Ordinary Shares of 0.5p each in the Company ("Ordinary Shares") which were
awarded to Executive Directors on 9 October 2020 (the "Share Options").

The Share Options were awarded with a three-year vesting period and they
included performance conditions with an element based on share price growth
over that period. As a result of the decline in the Company's share price
during the vesting period, the performance conditions for the Share Options
were not met, resulting in lapses.

The number of Share Options lapsing on 9 October 2023 for each Executive
Director is set out below, along with the total number of share options held
under all schemes by each Executive Director after the lapses.

 Name of Director  Position                 Number of LTIP options lapsing on 9 October 2023  Total number of share options held under all schemes following the lapses on 9
                                                                                              October 2023
 Jonathan Watts    Chief Executive Officer  9,662                                             187,012
 David Braben      President & Founder      9,662                                             394,284
 Alex Bevis        Chief Financial Officer  9,662                                             172,830
 James Dixon       Chief Operating Officer  892                                               44,309

 

Enquiries:

 

Frontier Developments   +44 (0)1223 394 300

Jonny Watts, CEO

Alex Bevis, CFO

 

Peel Hunt - Nomad and Joint Corporate Broker   +44 (0)20 3100 2000

Neil Patel / Paul Gillam / James Smith

 

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

Max Jones / Nikhil Varghese

 

Teneo   +44 (0)20 7353 4200

Matt Low / 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.

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

Price(s)  Volume(s)
                                             0.5p      9,662

 
 d)                                          Aggregated information:

                                             N/A - Single transaction

 e)                                          Date of the transaction:  9 October 2023
 f)                                          Place of the transaction: Outside a trading venue

 

d)

Aggregated information:

N/A - Single transaction

 

e)

Date of the transaction:  9 October 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)                                          Lapse of Options awarded under the Company's LTIP
 c)                                          Price(s) and volume(s):

Price(s)  Volume(s)
                                             0.5p      9,662

 
 d)                                          Aggregated information:

                                             N/A - Single transaction

 e)                                          Date of the transaction:  9 October 2023
 f)                                          Place of the transaction: Outside a trading venue

 

d)

Aggregated information:

N/A - Single transaction

 

e)

Date of the transaction:  9 October 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)                                          Lapse of Options awarded under the Company's LTIP
 c)                                          Price(s) and volume(s):

Price(s)  Volume(s)
                                             0.5p      9,662

 
 d)                                          Aggregated information:

                                             N/A - Single transaction

 e)                                          Date of the transaction:  9 October 2023
 f)                                          Place of the transaction: Outside a trading venue

 

d)

Aggregated information:

N/A - Single transaction

 

e)

Date of the transaction:  9 October 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)                                          Lapse of Options awarded under the Company's LTIP
 c)                                          Price(s) and volume(s):

Price(s)  Volume(s)
                                             0.5p      892

 
 d)                                          Aggregated information:

                                             N/A - Single transaction

 e)                                          Date of the transaction:  9 October 2023
 f)                                          Place of the transaction: Outside a trading venue

 

d)

Aggregated information:

N/A - Single transaction

 

e)

Date of the transaction:  9 October 2023

f)

Place of the transaction: Outside a trading venue

 

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