Option Grants/PDMR Shareholding

RNS Number : 5160T

Frontier Developments PLC

20 March 2023

 

20 March 2023

Frontier Developments plc

Director/PDMR Shareholding

Frontier Developments plc (AIM: FDEV, 'Frontier' or the 'Company'), a leading developer and publisher of videogames based in Cambridge, UK , announces Director/PDMR transactions in respect to the existing all-staff Sharesave share option plan (the 'Sharesave Plan').

The Sharesave Plan provides all staff with the opportunity to save towards a tax efficient share option over 3 years, with a maximum monthly saving of £500. The option exercise price is set with a 20% discount to market price at the invitation date.

On 17 March 2023, options were awarded to staff under the latest Sharesave Plan invitation with an option exercise price of £3.54. This option award included three Executive Directors, with each Director cancelling their previous Sharesave Plan savings contract at significantly higher exercise prices (£9.72 to £19.72). The new options are due to vest on 1 May 2026, after which they must be exercised within six months.

The following table sets out the lapses and new awards for each Executive Director, as well as the number of Ordinary Shares of 0.5p each in the Company held under option by each of the Executive Directors following the transactions:

Name of Director	Position	Number of Options lapsing	Number of Options granted	Total number of share options held under all schemes
Jonathan Watts	Chief Executive Officer	912	5,084	196,674
Alex Bevis	Chief Financial Officer	912	5,084	182,492
James Dixon	Chief Operating Officer	1,851	5,084	45,201

Enquiries :

Frontier Developments   [phone]

Jonny Watts, CEO

Alex Bevis, CFO 

Liberum - Nomad and Joint Broker  [phone]

Andrew Godber / Kate Bannatyne

Jefferies - Joint Broker   [phone]

Philip Noblet / William Brown

Tulchan Communications   [phone]

Matt Low / Mark Burgess / 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. 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: 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 transactions: Grant of 5,084 options over Ordinary Shares of 0.5 pence each with an exercise price of £3.54 per share. The Options are due to vest on 1 May 2026, after which they must be exercised within 6 months.
c)	Price(s) and volume(s): Price(s) Volume(s) £3.54 5,084
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction: 17 March 2023
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 transactions: Grant of 5,084 options over Ordinary Shares of 0.5 pence each with an exercise price of £3.54 per share. The Options are due to vest on 1 May 2026, after which they must be exercised within 6 months.
c)	Price(s) and volume(s): Price(s) Volume(s) £3.54 5,084
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction: 17 March 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)	Nature of the transactions: Grant of 5,084 options over Ordinary Shares of 0.5 pence each with an exercise price of £3.54 per share. The Options are due to vest on 1 May 2026, after which they must be exercised within 6 months.
c)	Price(s) and volume(s): Price(s) Volume(s) £3.54 5,084
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction: 17 March 2023
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)	Nature of the transactions: Lapse of Options awarded under the Company's Sharesave Plan
c)	Price(s) and volume(s): Price(s) Volume(s) £19.72 912
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction: 17 March 2023
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 transactions: Lapse of Options awarded under the Company's Sharesave Plan
c)	Price(s) and volume(s): Price(s) Volume(s) £19.72 912
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction: 17 March 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)	Nature of the transactions: Lapse of Options awarded under the Company's Sharesave Plan
c)	Price(s) and volume(s): Price(s) Volume(s) £9.72 1,851
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction: 17 March 2023
f)	Place of the transaction:   Outside a trading venue

 

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