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9 Oct 2020 10:59
9 October 2020
Frontier Developments plc
Option grants/ PDMR Dealings
On 9 October 2020, Frontier Developments plc (AIM: FDEV, 'Frontier' or the 'Company'), a leading developer and publisher of videogames based in Cambridge, UK, granted a total of 28,986 options over Ordinary Shares of 0.5p each in the Company ("Ordinary Shares") under the existing Long Term Incentive Plan ("LTIP") to the 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.
Each of the three Executive Directors have been awarded Options over 9,662 Ordinary Shares, to vest in three years subject to achieving certain Total Shareholder Return performance targets over the three year vesting period. The calculation method and performance conditions of these awards are consistent with the awards issued to each Executive Director in 2017, 2018 and 2019.
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 Options granted on 9 October 2020 | Total number of share options held under all schemes following the grants on 9 October 2020 |
David Braben | Chief Executive Officer | 9,662 | 377,255 |
Jonathan Watts | Chief Creative Officer | 9,662 | 168,970 |
Alex Bevis | Chief Financial Officer and Company Secretary | 9,662 | 177,255 |
Enquiries :
Frontier Developments +44 (0)1223 394 300
David Braben, CEO
Alex Bevis, CFO
Liberum - Nomad and Joint Broker +44 (0)20 3100 2000
Neil Patel / Cameron Duncan
Jefferies - Joint Broker +44 (0)20 7029 8000
Max Jones / William Brown
Tulchan Communications +44 (0)20 7353 4200
Matt Low / Deborah Roney / David Allchurch
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
DEALING NOTIFICATION FORMFOR 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: 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 9,662 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 3 years (based on TSR performance conditions) and must be exercised within 10 years from the date of award. | ||||
c) | Price(s) and volume(s):
| ||||
d) | Aggregated information: N/A - Single transaction
| ||||
e) | Date of the transaction: 9 October 2020 | ||||
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 Creative 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 9,662 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 3 years (based on TSR performance conditions) and must be exercised within 10 years from the date of award. | ||||
c) | Price(s) and volume(s):
| ||||
d) | Aggregated information: N/A - Single transaction
| ||||
e) | Date of the transaction: 9 October 2020 | ||||
f) | Place of the transaction: Outside a trading venue |
1. | Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name: Alex Bevis | ||||
2. | Reason for the notification | ||||
a) | Position/status: CFO and Company Secretary | ||||
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 9,662 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 3 years (based on TSR performance conditions) and must be exercised within 10 years from the date of award. | ||||
c) | Price(s) and volume(s):
| ||||
d) | Aggregated information: N/A - Single transaction
| ||||
e) | Date of the transaction: 9 October 2020 | ||||
f) | Place of the transaction: Outside a trading venue |
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