t
| Date | 7 Nov 2022 |
| Time | 07:00:10 |
| Category | Director/PDMR dealings |
| ID | 4306F |
7 November 2022
Frontier Developments plc
Option grants / PDMR Dealings
On 4 November 2022, Frontier Developments plc (AIM: FDEV, 'Frontier' or the 'Company'), a leading developer and publisher of videogames based in Cambridge, UK, granted a total of 132,362 options over Ordinary Shares of 0.5p each in the Company ("Ordinary Shares") under the existing Long Term Incentive Plan ("LTIP") to the four 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. The Options under the LTIP are due to vest in three years subject to the achievement of certain financial performance and Total Shareholder Return targets over the three year vesting period.
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 LTIP options granted on 4 November 2022 |
Total number of share options held under all schemes following the grants on 4 November 2022 |
|
Jonathan Watts |
Chief Executive Officer |
47,734 |
191,590 |
|
David Braben |
President and Founder |
30,828 |
403,946 |
|
Alexander Bevis |
Chief Financial Officer |
30,828 |
177,408 |
|
James Dixon |
Chief Operating Officer |
22,972 |
40,117 |
Enquiries:
Frontier Developments +44 (0)1223 394 300
Jonny Watts, 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 / Mark Burgess / Alex Dart
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.
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
|
1. |
Details of the person discharging managerial responsibilities/person closely associated |
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|
a) |
Name: Jonathan Watts |
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|
2. |
Reason for the notification |
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|
a) |
Position/status: Chief Executive Officer |
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|
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 |
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|
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 47,734 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 three years (subject to 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: 4 November 2022 |
||||
|
f) |
Place of the transaction: Outside a trading venue |
|
1. |
Details of the person discharging managerial responsibilities/person closely associated |
||||
|
a) |
Name: David Braben |
||||
|
2. |
Reason for the notification |
||||
|
a) |
Position/status: President and Founder |
||||
|
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 30,828 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 three years (subject to 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: 4 November 2022 |
||||
|
f) |
Place of the transaction: Outside a trading venue |
|
1. |
Details of the person discharging managerial responsibilities/person closely associated |
||||
|
a) |
Name: Alexander 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: Ordinary shares of 0.5p each. Identification code: GB00BBT32N39 |
||||
|
b) |
Nature of the transaction: Grant of 30,828 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 three years (subject to 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: 4 November 2022 |
||||
|
f) |
Place of the transaction: Outside a trading venue |
|
1. |
Details of the person discharging managerial responsibilities/person closely associated |
||||
|
a) |
Name: James Dixon |
||||
|
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 22,972 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 three years (subject to 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: 4 November 2022 |
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|
f) |
Place of the transaction: Outside a trading venue |