Frontier Developments PLC Share Options and Director/PDMR Dealings (8395O)
October 09 2023 - 1:00AM
UK Regulatory
TIDMFDEV
RNS Number : 8395O
Frontier Developments PLC
09 October 2023
9 October 2023
Frontier Developments plc
Share Options and Director/PDMR Dealings
Frontier Developments plc (AIM: FDEV, 'Frontier' or the
'Company'), a leading developer and publisher of videogames based
in Cambridge, UK , confirms the vesting outcomes for LTIP (Long
Term Incentive Plan) share options over Ordinary Shares of 0.5p
each in the Company ("Ordinary Shares") which were awarded to
Executive Directors on 9 October 2020 (the "Share Options").
The Share Options were awarded with a three-year vesting period
and they included performance conditions with an element based on
share price growth over that period. As a result of the decline in
the Company's share price during the vesting period, the
performance conditions for the Share Options were not met,
resulting in lapses.
The number of Share Options lapsing on 9 October 2023 for each
Executive Director is set out below, along with the total number of
share options held under all schemes by each Executive Director
after the lapses.
Name of Director Position Number of Total number
LTIP options of share options
lapsing on held under
9 October all schemes
2023 following the
lapses on 9
October 2023
Chief Executive
Jonathan Watts Officer 9,662 187,012
--------------------- -------------- ------------------
David Braben President & Founder 9,662 394,284
--------------------- -------------- ------------------
Chief Financial
Alex Bevis Officer 9,662 172,830
--------------------- -------------- ------------------
Chief Operating
James Dixon Officer 892 44,309
--------------------- -------------- ------------------
Enquiries :
Frontier Developments +44 (0)1223 394 300
Jonny Watts, CEO
Alex Bevis, CFO
Peel Hunt - Nomad and Joint Corporate Broker +44 (0)20 3100 2000
Neil Patel / Paul Gillam / James Smith
Liberum - Joint Corporate Broker +44 (0)20 3100 2000
Max Jones / Nikhil Varghese
Teneo +44 (0)20 7353 4200
Matt Low / Alex Dart
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.
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
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2. Reason for the notification
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a) Position/status: President and Founder
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b) Initial notification/Amendment: Initial Notification
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3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
---------------------------------------------------------------------
a) Name: Frontier Developments plc
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b) LEI: 213800B9LGPWUAZ9GX18
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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
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b) Lapse of Options awarded under the Company's LTIP
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c) Price(s) and volume(s): Price(s) Volume(s)
0.5p 9,662
----------
---------------------------------------------------------------------
d) Aggregated information:
N/A - Single transaction
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e) Date of the transaction: 9 October 2023
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f) Place of the transaction: Outside a trading venue
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1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Jonathan Watts
---------------------------------------------------------------------
2. Reason for the notification
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a) Position/status: Chief Executive Officer
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b) Initial notification/Amendment: Initial Notification
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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) Lapse of Options awarded under the Company's LTIP
---------------------------------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
0.5p 9,662
----------
---------------------------------------------------------------------
d) Aggregated information:
N/A - Single transaction
---------------------------------------------------------------------
e) Date of the transaction: 9 October 2023
---------------------------------------------------------------------
f) Place of the transaction: Outside a trading venue
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1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Alexander Bevis
---------------------------------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------
a) Position/status: Chief Financial 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) Lapse of Options awarded under the Company's LTIP
---------------------------------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
0.5p 9,662
----------
---------------------------------------------------------------------
d) Aggregated information:
N/A - Single transaction
---------------------------------------------------------------------
e) Date of the transaction: 9 October 2023
---------------------------------------------------------------------
f) Place of the transaction: Outside a trading venue
---------------------------------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: James Dixon
---------------------------------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------
a) Position/status: Chief Operating 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) Lapse of Options awarded under the Company's LTIP
---------------------------------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
0.5p 892
----------
---------------------------------------------------------------------
d) Aggregated information:
N/A - Single transaction
---------------------------------------------------------------------
e) Date of the transaction: 9 October 2023
---------------------------------------------------------------------
f) Place of the transaction: Outside a trading venue
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END
DSHMABLTMTIMMLJ
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October 09, 2023 02:00 ET (06:00 GMT)
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