15 October 2024
Frontier
Developments plc
Share
Options and Director/PDMR Dealings
Frontier Developments plc (AIM:
FDEV, 'Frontier' or the 'Company'), a leading developer and
publisher of video games 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 15
October 2021 (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 15 October 2024 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 LTIP Share Options lapsing on 15 October
2024
|
Total number of share options held under all schemes following
the lapses on 15 October 2024
|
|
Jonathan Watts
|
Chief Executive Officer
|
10,510
|
176,502
|
|
David Braben
|
President & Founder
|
10,910
|
83,374
|
|
Alex Bevis
|
Chief Financial Officer
|
10,510
|
162,320
|
|
James Dixon
|
Chief Operating Officer
|
1,682
|
42,627
|
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 / Matt Hogg / 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: 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)
|
Lapse of Options awarded under the Company's
LTIP
|
|
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
2024
|
|
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 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)
|
Lapse of Options awarded under the Company's
LTIP
|
|
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
2024
|
|
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)
|
Lapse of Options awarded under the Company's
LTIP
|
|
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
2024
|
|
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
|
1,682
|
|
|
d)
|
Aggregated information:
N/A - Single transaction
|
|
e)
|
Date of the transaction: 15 October
2024
|
|
f)
|
Place of the transaction: Outside a trading
venue
|