Last checked at 14 Nov 2017 08:59
14 November 2017
Frontier Developments plc
Option Grants / PDMR Dealings
On 10 November 2017 Frontier Developments plc (the "Company") approved a new Long Term Incentive Plan ("LTIP"). The purpose of the LTIP is to help to recruit, retain and motivate key staff, including Executive Directors, who will be important in driving the Company's long term success. For the Executive Directors the performance conditions are based on total shareholder return over a 3 year period. Further details will be disclosed in the annual report for the year ending 31 May 2018.
Following approval of the new LTIP, awards under the plan were made on 10 November 2017. Awards were also made under the existing Frontier Developments plc Company Share Option Plan ("CSOP").
The exercise price of the options under the LTIP is the nominal value of the Company's ordinary shares of 0.5 pence each ("Ordinary Shares"). The exercise price of the options under the CSOP is 1094 pence, which is equal to the closing middle market share price on Thursday 9 November 2017.
The options awarded to the Executive Directors are set out in the table below, together with the
number of Ordinary Shares held under option by each of the Executive Directors.
Name of Director | Position | Number of LTIP options granted on 10 November 2017 | Number of CSOP options granted on 10 November 2017 | Total Number of Options held |
David Braben | Chief Executive Officer | 19,930 | - | 329,029 |
David Walsh | Chief Operating Officer | 19,016 | 2,742 | 31,037 |
Jonathan Watts | Chief Creative officer | 19,016 | 2,742 | 91,037 |
Alex Bevis | Chief Financial Officer and Company Secretary | 19,930 | - | 329,029 |
Enquiries:
Frontier Developments +44 (0)1223 394 300
David Braben, CEO
David Walsh, COO
Alex Bevis, CFO
Liberum - Nomad and Joint Broker +44 (0)20 3100 2000
Neil Patel / Cameron Duncan
finnCap - Joint Broker +44 (0) 207 220 0500
Matt Goode / Giles Rolls
Alice Lane
Tulchan Communications +44 (0) 207 353 4200
James Macey White / Matt Low
About Frontier Developments plc
Frontier Developments plc, listed on the AIM stock market (AIM: FDEV), is a leading independent creator of self-published videogame franchises founded in 1994 by David Braben, co-author of the seminal '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.
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: 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 19,930 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: · Aggregated volume: 19,930 · Price: 0.5p | ||||
e) | Date of the transaction: 2017-11-10 | ||||
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: 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 19,930 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: · Aggregated volume: 19,930 · Price: 0.5p | ||||
e) | Date of the transaction: 2017-11-10 | ||||
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: David Walsh | ||||
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 transaction: Grant of 19,016 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: · Aggregated volume: 19,016 · Price: 0.5p | ||||
e) | Date of the transaction: 2017-11-10 | ||||
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: David Walsh | ||||
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 transaction: Grant of 2,742 options over ordinary shares of 0.5 pence each with an exercise price of 1094 pence per share. The Options are due to vest after 3 years and must be exercised within 10 years from the date of award. | ||||
c) | Price(s) and volume(s):
| ||||
d) | Aggregated information: · Aggregated volume: 2,742 · Price: 1094p | ||||
e) | Date of the transaction: 2017-11-10 | ||||
f) | Place of the transaction: Outside a trading venue |
DEALING NOTIFICATION FORMFOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
5. | Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name: Jonathan Watts | ||||
6. | Reason for the notification | ||||
a) | Position/status: Chief Creative Officer | ||||
b) | Initial notification/Amendment: Initial Notification | ||||
7. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name: Frontier Developments plc | ||||
b) | LEI: 213800B9LGPWUAZ9GX18 | ||||
8. | 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 19,016 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: · Aggregated volume: 19,016 · Price: 0.5p | ||||
e) | Date of the transaction: 2017-11-10 | ||||
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: Ordinary shares of 0.5p each. Identification code: GB00BBT32N39 | ||||
b) | Nature of the transaction: Grant of 2,742 options over ordinary shares of 0.5 pence each with an exercise price of 1094 pence per share. The Options are due to vest after 3 years and must be exercised within 10 years from the date of award. | ||||
c) | Price(s) and volume(s):
| ||||
d) | Aggregated information: · Aggregated volume: 2,742 · Price: 1094p | ||||
e) | Date of the transaction: 2017-11-10 | ||||
f) | Place of the transaction: Outside a trading venue |