Last checked at 20 Feb 2015 13:32
20 February 2015
Frontier Developments Plc
Director's Dealing
20 February 2015 - Frontier Developments Plc (AIM: FDEV) (the "Company"), announces the following transaction in ordinary shares of 0.5p each in the Company ("Ordinary Shares") by a Director of the Company.
On 20 February 2015, the Company received notification from Mr David Gammon, Non-Executive Chairman of the Company, that he and his wife had provided a guarantee in respect of their son's legal mortgage agreement with Nedbank Private Wealth Limited ("Nedbank") dated 6 February 2015 (the "Guarantee"). The Guarantee is supported by a charge over a portfolio of assets, which includes 5,000 Ordinary Shares held by Mr Gammon and his wife.
Mr Gammon and his wife retain the legal title, beneficial ownership and voting rights in respect of these 5,000 Ordinary Shares charged under the Guarantee.
Following this transaction, Mr Gammon and family will have the following interests in the Company's share capital:
Director | Number of Ordinary Shares prior to this transaction | Number of Ordinary Shares following this transaction | Total number of options | Total interest (Ordinary Shares and options) as % of issued share capital |
Rockspring1 | 286,720 | 286,720 | 170,743 | 1.36% |
David Gammon and family2 | 5,000 | 5,0003 | 0 | 0.01% |
1 Rockspring is an unlimited liability company, in which Mr Gammon and his family are the only shareholders. Mr Gammon and his family are beneficially interested in the shares held by Rockspring
2 Shares jointly owned by David Gammon and his wife
3 David Gammon and his wife continue to retain the legal and beneficial ownership of these shares. However, in the event the obligations under the mortgage were not met, Nedbank could exercise their collateral and sell the 5,000 Ordinary Shares
Enquiries:
Frontier Developments + 44 (0) 1223 394 300
David Braben, CEO
David Walsh, COO
Neil Armstrong, CFO
Canaccord Genuity Limited + 44 (0) 207 523 8000
Simon Bridges / Cameron Duncan
FinnCap Ltd + 44 (0) 207 220 0506
Charlotte Stranner
Tulchan Communications + 44 (0) 207 353 4200
James Macey White