EBT Share Purchase

RNS Number : 8021Y

Frontier Developments PLC

11 September 2020

 

Frontier Developments plc

(the "Company")

 EBT Share Purchase

The Company was notified on 11 September 2020, by Estera Trust (Jersey) Limited, the trustee of the Frontier Developments plc Employee Benefit Trust (the "EBT"), that the EBT had purchased 415,834 ordinary shares of 0.5p each in the Company ("Ordinary Shares") at an average price of 2,400 pence per Ordinary Share on 11 September 2020. These Ordinary Shares are to be held in the EBT and are intended to be used to satisfy the exercise of share options by employees. The EBT is a discretionary trust for the benefit of the Company's employees, including the Directors of the Company. The purchase of Ordinary Shares by the EBT has been funded from the Company's existing cash resources.

Following this transaction and employee option exercises announced earlier today, a total of 457,709 Ordinary Shares are held by the EBT, representing approximately 1.17 per cent of the Company's total voting rights.

Enquiries :

Frontier Developments   [phone]

David Braben, CEO

Alex Bevis, CFO 

Liberum - Nomad and Joint Broker   [phone]

Neil Patel / Cameron Duncan  

Jefferies - Joint Broker   [phone]

Max Jones / William Brown

Tulchan Communications   [phone]

Matt Low / Deborah Roney / David Allchurch

About Frontier Developments plc

Frontier is a leading independent developer and publisher of videogames founded in 1994 by David Braben, co-author of the iconic Elite game. Based in Cambridge, Frontier uses its proprietary COBRA game development technology to create innovative genre-leading games, primarily for personal computers and videogame consoles. As well as self-publishing internally developed games, Frontier also publishes games developed by carefully selected partner studios under its Frontier Foundry games label.

Frontier's LEI number: 213800B9LGPWUAZ9GX18.

www.frontier.co.uk

 

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