Director's Dealing

RNS Number : 4959F

Frontier Developments PLC

20 February 2015

 



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

 

END

 

 

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