24 February 2025
Frontier
Developments plc
Option grants / PDMR Dealings
On 21 February 2025, Frontier
Developments plc (AIM: FDEV, 'Frontier', the 'Company', or the
'Group'), a leading developer and publisher of video games based in
Cambridge, UK, granted a total of 538,000 options over Ordinary Shares of
0.5p each in the Company ('Ordinary Shares') under the existing
Long Term Incentive Plan ('LTIP') to the four 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 Options are due to vest on 21 February 2028, with
50% of the Options vesting subject to the achievement of threshold
targets for revenue, profit and shareholder return over the three
year vesting period, and the remaining 50% vesting on a straight
line basis against stretch targets for the three performance
measures.
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 21 February 2025
|
Total number of share options
held under all schemes following the grants on 21 February
2025
|
|
Jonathan
Watts
|
Chief
Executive Officer
|
204,000
|
380,502
|
|
David
Braben
|
President
and Founder
|
113,000
|
196,374
|
|
Alexander
Bevis
|
Chief
Financial Officer
|
136,000
|
298,320
|
|
James
Dixon
|
Chief
Operating Officer
|
85,000
|
127,627
|
Enquiries:
Frontier
Developments
+44 (0)1223 394 300
Jonny Watts, CEO
Alex Bevis,
CFO
Peel Hunt -
Nomad and Joint Corporate
Broker +44
(0)20 7418 8900
Neil Patel / Ben Cryer / Kate
Bannatyne
Panmure
Liberum - Joint Corporate
Broker +44
(0)20 3100 2000
Max Jones / Nikhil Varghese
Teneo
+44 (0)20 7353 4200
Matt Low / Arthur Rogers
About Frontier Developments
plc
Frontier is a leading independent
developer and publisher of video games 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 video game 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: Jonathan Watts
|
|
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 204,000
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 three years (subject to 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
|
204,000
|
|
|
d)
|
Aggregated information:
N/A - Single transaction
|
|
e)
|
Date of the transaction: 21 February
2025
|
|
f)
|
Place of the transaction: Outside a trading
venue
|
|
1.
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a)
|
Name: David Braben
|
|
2.
|
Reason for the
notification
|
|
a)
|
Position/status: President and
Founder
|
|
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 113,000
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 three years (subject to 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
|
113,000
|
|
|
d)
|
Aggregated information:
N/A - Single transaction
|
|
e)
|
Date of the transaction: 21 February
2025
|
|
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: 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)
|
Nature of the transaction: Grant of 136,000
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 three years (subject to 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
|
136,000
|
|
|
d)
|
Aggregated information:
N/A - Single transaction
|
|
e)
|
Date of the transaction: 21 February
2025
|
|
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)
|
Nature of the transaction: Grant of 85,000
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 three years (subject to 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
|
85,000
|
|
|
d)
|
Aggregated information:
N/A - Single transaction
|
|
e)
|
Date of the transaction: 21 February
2025
|
|
f)
|
Place of the transaction: Outside a trading
venue
|
