EBT and Director Dealings

RNS Number : 8444W

Frontier Developments PLC

29 April 2016

 

28 April 2016

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:

EBT Dealings

The Company was notified today by Appleby Trust (Jersey) Limited, the trustee of the Frontier Developments plc Employee Share Ownership Plan Trust (the "EBT"), that the EBT transferred 24,500 shares to meet employee share option awards at an average exercise price of 0.89 pence per Ordinary Share.

Following the exercise of options by employees on the 27 April 2016, 20,060 were repurchased by the EBT at 222.5 pence per share. The balance of 4,440 shares are to be transferred to employees.

Following this transaction, the EBT is interested in 230,400 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

Neil Armstrong, Chief Financial Officer 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. Armstrong sold 8,060 Ordinary Shares at a price of 222.5 pence per Ordinary Share to meet the exercise price and associated tax liabilities.

Following the options exercise and related sale the interests of 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
Neil Armstrong	31,189	35,629	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 / Toby Adcock
Finncap	[phone]
Matt Goode/Giles Rolls
Tulchan Communications	[phone]
James Macey White/Matt Low

About Frontier Developments plc 

Frontier Developments plc, quoted on the AIM market of the London Stock Exchange (AIM: FDEV), is a leading independent game developer 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 across videogame consoles, computers, smartphones and tablets.

 

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