Exercise of Options and Director/PDMR Shareholding

RNS Number : 3257M

Frontier Developments PLC

13 September 2019

 

Frontier Developments plc

Exercise of Options, Director/PDMR Shareholding and Total Voting Rights

Frontier Developments plc (AIM: FDEV, "Frontier", the "Company") announces that on 12 September 2019, Rockspring, a UK company, exercised options over 170,742 ordinary shares of 0.5 pence each in the Company ("Ordinary Shares") at an average exercise price of 117.1 pence.  Following the exercise, Rockspring sold 80,000 of these Ordinary Shares at a price of £10.32 per Ordinary Share during the period 12 September 2019 to 13 September 2019, therefore retaining 90,742 Ordinary Shares of the total number exercised.

Rockspring was awarded these options in 2013 for services provided to Frontier in support of the Company's pre-IPO fundraising and IPO.  David Gammon, Frontier's Non-Executive Chairman, is a Director of Rockspring and, together with his family, is beneficially interested in these Ordinary Shares.

Following the transactions detailed above, David Gammon is beneficially interested in a total of 437,462 Ordinary Shares, representing approximately 1.1% of the Company's issued share capital.

Application has been made to the London Stock Exchange for the 170,742 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective and trading will commence at 8.00 a.m. on 18 September 2019.

Total Voting Rights

In accordance with the FCA's Disclosure and Transparency Rule 5.6.1, the Company confirms that, following Admission, its issued share capital will consist of 38,911,810 Ordinary Shares.

The Company does not currently hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 38,911,810.

The above figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

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

About Frontier Developments plc

Frontier is a leading developer and publisher of videogame franchises 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 games, currently focusing on videogame consoles and personal computers.

Frontier's LEI number: 213800B9LGPWUAZ9GX18.

www.frontier.co.uk

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name: David Gammon
2.	Reason for the notification
a)	Position/status: Non-Executive Chairman
b)	Initial notification/Amendment: Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name: Frontier Developments plc
b)	LEI: 213800B9LGPWUAZ9GX18
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument: Ordinary shares of 0.5p each. Identification code: GB00BBT32N39
b)	Nature of the transaction: Exercise of options
c)	Price(s) and volume(s): Price(s) Volume(s) 95p 52,632 127p 118,110
d)	Aggregated information: Aggregated volume: 170,742 Aggregated average price: 117.1p
e)	Date of the transaction:  12 September 2019
f)	Place of the transaction: Outside a trading venue

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name: David Gammon
2.	Reason for the notification
a)	Position/status: Non-Executive Chairman
b)	Initial notification/Amendment: Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name: Frontier Developments plc
b)	LEI: 213800B9LGPWUAZ9GX18
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument: Ordinary shares of 0.5p each. Identification code: GB00BBT32N39
b)	Nature of the transaction: Sale of Ordinary Shares
c)	Price(s) and volume(s): Price(s) Volume(s) Date of transaction £10.32 50,000 12 September 2019 £10.32 30,000 13 September 2019
d)	Aggregated information: Aggregated volume: 80,000 Aggregated average price: £10.32
e)	Date of the transaction:  12 and 13 September 2019
f)	Place of the transaction: London Stock Exchange

 

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