Last checked at 4 Oct 2019 15:45
Frontier Developments plc
Option Grants / PDMR Dealings
On 4 October 2019, Frontier Developments plc (AIM: FDEV, "Frontier", the "Company") granted a total of 161,623 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 0.5 pence each.
Each of the three Executive Directors was awarded an Option over 21,449 Ordinary Shares, to vest in three years dependent on achieving certain Total Shareholder Return performance targets over that 3 year vesting period. The calculation method and performance conditions of these awards are consistent with the awards issued to each Executive Director in 2017 and 2018.
An additional LTIP Option over 97,276 Ordinary Shares was awarded to Jonny Watts, Frontier's Chief Creative Officer and one of the Company's three Executive Directors. This additional award was granted to Mr Watts in recognition of his importance to Frontier's future performance through his creative leadership, team management and game development experience. This additional LTIP Option vests in three years from the date of grant, provided the Company generates an operating profit in each of the three financial years ending on 31 May 2020, 31 May 2021 and 31 May 2022.
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.
Name of Director | Position | Number of Options granted on 4 October 2019 | Total Number of Options held following the grants on 4 October 2019 |
David Braben | Chief Executive Officer | 21,449 | 367,593 |
Jonathan Watts | Chief Creative Officer | 118,725 | 226,697 |
Alex Bevis | Chief Financial Officer and Company Secretary | 21,449 | 367,593 |
Enquiries:
Frontier Developments +44 (0)1223 394300
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
About Frontier Developments plc
Frontier is a leading developer and publisher of videogame franchises 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 games, currently focusing on videogame consoles and personal computers.
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: Options over ordinary shares of 0.5p each Identification code: GB00BBT32N39 | ||||
b) | Nature of the transaction: Grant of options | ||||
c)
| Price(s) and volume(s):
| ||||
d) | Aggregated information: Aggregated volume: 21,449 Price: 0.5p | ||||
e) | Date of the transaction: 4-10-19 | ||||
f) | Place of the transaction: Outside a trading venue |
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: Alex 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: Options over ordinary shares of 0.5p each Identification code: GB00BBT32N39 | ||||
b) | Nature of the transaction: Grant of options | ||||
c)
| Price(s) and volume(s):
| ||||
d) | Aggregated information: Aggregated volume: 21,449 Price: 0.5p | ||||
e) | Date of the transaction: 4-10-19 | ||||
f) | Place of the transaction: Outside a trading venue |
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: 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: Options over ordinary shares of 0.5p each Identification code: GB00BBT32N39 | ||||||
b) | Nature of the transaction: Grant of options | ||||||
c)
| Price(s) and volume(s):
| ||||||
d) | Aggregated information: Aggregated volume: 118,725 Price: 0.5p | ||||||
e) | Date of the transaction: 4-10-19 | ||||||
f) | Place of the transaction: Outside a trading venue |