Option grants/ PDMR Dealings

RNS Number : 5533P

Frontier Developments PLC

19 October 2021

 

19 October 2021

Frontier Developments plc

 Option grants/ PDMR Dealings

On 15 October 2021, Frontier Developments plc (AIM: FDEV, 'Frontier' or the 'Company'), a leading developer and publisher of videogames based in Cambridge, UK ,  granted a total of 34,292 options over Ordinary Shares of 0.5p each in the Company ("Ordinary Shares") under the existing Long Term Incentive Plan ("LTIP") and the Company Share Option Plan ("CSOP) to the Executive Directors (the "Options"). The exercise price of the Options under the LTIP is the nominal value of the Ordinary Shares, being 0.5p each. The exercise price of the Options under the CSOP is the market value of the Ordinary Shares at grant date, being 2,540p.

The Options under the LTIP are due to vest in three years subject to achieving certain Total Shareholder Return performance targets over the three year vesting period. The calculation method and performance conditions of these awards are consistent with the awards issued to each Executive Director in 2017, 2018, 2019 and 2020.

The Options awarded to the Executive Directors are set out in the table below, together with the total number of Ordinary Shares held under option by each of the Executive Directors under all share option schemes.

Name of Director	Position	Number of LTIP options granted on 15 October 2021	Number of CSOP options granted on 15 October 2021	Total number of share options held under all schemes following the grants on 15 October 2021
David Braben	Chief Executive Officer	10,910	-	386,275
Jonathan Watts	Chief Creative Officer	10,510	1,181	157,925
Alex Bevis	Chief Financial Officer and Company Secretary	10,510	1,181	160,649

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 / 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

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 Braben
2.	Reason for the notification
a)	Position/status: Chief Executive Officer
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: Grant of 10,910 options over ordinary shares of 0.5 pence each with an exercise price of 0.5 pence per share. The Options are due to vest after 3 years (based on TSR performance conditions) and must be exercised within 10 years from the date of award.
c)	Price(s) and volume(s): Price(s) Volume(s) 0.5p 10,910
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  15 October 2021
f)	Place of the transaction: Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name: Jonathan Watts
2.	Reason for the notification
a)	Position/status: Chief Creative Officer
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: Grant of 10,510 options over ordinary shares of 0.5 pence each with an exercise price of 0.5 pence per share. The Options are due to vest after 3 years (based on TSR performance conditions) and must be exercised within 10 years from the date of award.
c)	Price(s) and volume(s): Price(s) Volume(s) 0.5p 10,510
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  15 October 2021
f)	Place of the transaction: Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name: Jonathan Watts
2.	Reason for the notification
a)	Position/status: Chief Creative Officer
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: Grant of 1,181 options over ordinary shares of 0.5 pence each with an exercise price of 2,540 pence per share. The Options are due to vest after 3 years and must be exercised within 10 years from the date of award.
c)	Price(s) and volume(s): Price(s) Volume(s) 2,540p 1,181
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  15 October 2021
f)	Place of the transaction: Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name: Alexander Bevis
2.	Reason for the notification
a)	Position/status: CFO and Company Secretary
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: Grant of 10,510 options over ordinary shares of 0.5 pence each with an exercise price of 0.5 pence per share. The Options are due to vest after 3 years (based on TSR performance conditions) and must be exercised within 10 years from the date of award.
c)	Price(s) and volume(s): Price(s) Volume(s) 0.5p 10,510
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  15 October 2021
f)	Place of the transaction: Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name: Alexander Bevis
2.	Reason for the notification
a)	Position/status: CFO and Company Secretary
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: Grant of 1,181 options over ordinary shares of 0.5 pence each with an exercise price of 2,540 pence per share. The Options are due to vest after 3 years and must be exercised within 10 years from the date of award.
c)	Price(s) and volume(s): Price(s) Volume(s) 2,540p 1,181
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  15 October 2021
f)	Place of the transaction: Outside a trading venue

 

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