EBT and Directors' Dealings

RNS Number : 2108H

Frontier Developments PLC

11 March 2015

 

11 March 2015

Frontier Developments plc

(the "Company")

EBT and Directors' Dealings

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

Employee Benefit Trust 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 121,000 ordinary shares of 0.5p each in the Company ("Ordinary Shares") to certain of the Company's employees on 11 March 2015 in order to satisfy the exercise of share options. These options had an average exercise price of 74 pence per Ordinary Share. The EBT also purchased 29,534 Ordinary Shares at 230 pence per Ordinary Share on 11 March 2015.

Following this transaction, the EBT is interested in 59,965 Ordinary Shares, representing 0.2 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.

Directors' Dealings

As part of the dealings referred to above, Jonathan Watts, Chief Creative Officer has today exercised share options in respect of 30,000 Ordinary Shares 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 in respect of 12,500Ordinary Shares at an exercise price of 89 pence per Ordinary Share.

Following the exercise of these options, Mr. Watts and Mr. Armstrong today sold 8,740 Ordinary Shares and 4,837 Ordinary Shares respectively at a price of 230p per Ordinary Share to meet the exercise costs and associated tax liabilities.

Following these option exercises and related sales, the interests of Mr. Watts and Mr. Armstrong are as follows:

Director	Number of Ordinary Shares prior to transactions	Number of Ordinary Shares following transactions	Total resulting interest in Ordinary Shares as % of issued share capital
Jonathan Watts	23,500	44,760	0.1%
Neil Armstrong	18,500	26,163	0.1%

Enquiries:

Frontier Developments	[phone]
David Braben, CEO David Walsh, COO Neil Armstrong, CFO
Canaccord Genuity	[phone]
Simon Bridges/Cameron Duncan
Finncap	[phone]
Charlotte Stranner
Tulchan Communications	[phone]
James Macey White

 

END

 

 

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