3 Sep 2019 16:39
3 September 2019 |
Frontier Smart Technologies Group Ltd
('Frontier' or the 'Company')
Exercise of Options and Total Voting Rights
Frontier confirms that it has received an exercise notice from current employees of the Company in respect of options held under its unapproved scheme totaling 54,375 ordinary shares (the "Option Exercise"). The Option Exercise will be satisfied through the Company's existing block listing arrangement. Furthermore, the Company has also received an exercise notice in respect of options held under its JSOP scheme totaling 17,000 ordinary shares (the "JSOP Exercise"). The JSOP Exercise will be satisfied through the release of existing ordinary shares held in the Employee Benefit Trust ("EBT").
Voting rights in respect of ordinary shares held jointly by the EBT and participants for the purposes of the Company's joint share ownership plan are waived. Following completion of the JSOP Exercise and transfer out of the EBT, 2,000,537 ordinary shares will be held in the EBT. Following the Option Exercise, the total issued share capital of the Company will increase to 46,909,578 ordinary shares, and following completion of the JSOP Exercise, the total number of voting rights in the Company will increase to 44,909,041.
This figure of 44,909,041 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the FCA's Disclosure and Transparency Rules.
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For Further Enquiries:
Frontier Smart Technologies Group Limited | +44 (0) 20 7391 0630 |
Anthony Sethill, Chief Executive Officer | |
Jonathan Apps, Chief Financial Officer | |
N+1 Singer (Nominated Adviser and Broker) | +44 (0) 20 7496 3000 |
Sandy Fraser / Lauren Kettle / Ben Farrow |
About Frontier Smart Technologies Group Limited
Frontier Smart Technologies is a pioneer in technologies for Digital Radio and Smart Audio devices. The Company's customers include many leading consumer audio brands: Bose, Denon, Grundig, harman/kardon, Hama, JBL, Marshall, Onkyo, Panasonic, Philips, Pioneer, Pure, Roberts, Sony, TechniSat, UrbanEars, Yamaha, and many more. The Company, incorporated in 2001, is headquartered in London, with engineering, sales and operations teams in Cambridge, Timisoara (Romania), Hong Kong, and Shenzhen.
Please visit http://www.frontiersmart.com/