EBT Dealings & Grant of Options

RNS Number : 3610M

Frontier Developments PLC

06 May 2015

 

6 May 2015

Frontier Developments plc

(the "Company")

EBT Dealings & Grant of Options

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 they purchased 10,000 Ordinary Shares at 226.3 pence per Ordinary Share on 5 May 2015.

Following this transaction, the EBT is interested in 31,837 Ordinary Shares, representing 0.1 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.

Grant of Options

On 6 May 2015, the Company awarded to the non-executive directors of the Company 25,000 share options (the "Options"), exercisable into new ordinary shares of 0.5 pence in the Company ("Ordinary Shares") at an exercise price of 230 pence per share. The Options are subject to certain performance conditions, and will vest over a period of three years.

Out of the total award of 25,000 options, 12,500 have been awarded to David Gammon and 12,500 to Jonathan Milner. Following this grant, the following Options over Ordinary Shares have been granted to the non-executive directors of the Company and are outstanding:

Name of Director	Position	Scheme	Number of Options granted	Total number of Options
David Gammon	Non-Executive Chairman	Company Share Option Plan & Unapproved Plan	12,500	183,242
Jonathan Milner	Non-Executive Director	Company Share Option Plans & Unapproved Plan	12,500	55,186

Enquiries:

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

 

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