EBT and Director Dealings

RNS Number : 4448D

Frontier Developments PLC

26 October 2015

 



26 October 2015

Frontier Developments plc

(the "Company")

EBT and Director Dealings

Frontier Developments plc (AIM: FDEV, "Frontier", the "Group"), a leading developer of video games, announces the following dealings of which it was notified today:

EBT Dealings

Appleby Trust (Jersey) Limited, the trustee of the Frontier Developments plc Employee Share Ownership Plan Trust (the "EBT"), that the EBT transferred 152,000 shares to meet employee share option awards at an average exercise price of 0.6947 pence per Ordinary Share.

Following this exercise of options, 56,072 were repurchased by the EBT at 230.0 pence per share to meet the exercise price and individuals' associated tax liabilities. The balance of 95,928 shares are to be transferred to employees.

Following this transaction, the EBT is interested in 241,927 Ordinary Shares, representing 0.7 per cent of the Company's total issued share capital.

The EBT is a discretionary trust for the benefit of employees of the Company and its subsidiaries, who have been granted share options. The Executive Directors of the Company are included in the class of potential beneficiaries of the EBT and are deemed to be interested in those shares and the dealings thereof.

Director Dealings

Jonathan Watts, Chief Creative Officer has today exercised share options of 30,000 ordinary shares of 0.5p each at an exercise price of 67 pence per Ordinary Share.

Neil Armstrong, Chief Financial Officer (an applicable employee under the AIM rules) has today exercised share options of 12,500 at an exercise price of 89 pence per Ordinary Share.

Following the exercise of these options Mr Watts and Mr Armstrong sold 19,370 Ordinary Shares and 7,474 Ordinary Shares respectively at a price of 230p per Ordinary Share to meet the exercise price and any associated tax liabilities.

Following the options exercise and related sale the interests of Mr. Watts and Mr. Armstrong are as follows:

Director	Number of Ordinary Shares prior to transaction	Number of Ordinary Shares post transaction	Total interest in Ordinary Shares as % of issued share capital
Jonathan Watts	44,760	55,390	0.2%
Neil Armstrong	26,163	31,189	0.1%

Enquiries:

Frontier Developments	[phone]
David Braben, CEO David Walsh, COO Neil Armstrong, CFO
Numis - Nomad and Joint Broker	[phone]
Simon Willis / Jamie Lillywhite / Rupert Krefting
Finncap	[phone]
Matt Goode/Giles Rolls
Tulchan Communications	[phone]
James Macey White/Matt Low

 

END

 

 

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