Share Options and Director/PDMR Dealings

RNS Number : 7712B

Frontier Developments PLC

05 October 2022

 

5 October 2022

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 4 October 2019 (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. The annualised growth rate in Frontier's share price over the three years was 8%, which resulted in a partial vesting of the Share Options, with an element of the Share Options lapsing on 4 October 2022.

The number of Share Options granted on 4 October 2019 and lapsing on 4 October 2022 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 options granted on 4 October 2019	Number of LTIP options lapsing on 4 October 2022	Total number of share options held under all schemes following the lapses on 4 October 2022
Jonathan Watts	Chief Executive Officer	21,449	13,157 (61%)	143,856
David Braben	President & Founder	21,449	13,157 (61%)	373,118
Alex Bevis	Chief Financial Officer	21,449	13,157 (61%)	146,580
James Dixon	Chief Operating Officer	4,147	1,271 (31%)	17,145

Enquiries :

Frontier Developments   [phone]

Jonny Watts, 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 / 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: 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 13,157
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  4 October 2022
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 13,157
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  4 October 2022
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 13,157
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  4 October 2022
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 1,271
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  4 October 2022
f)	Place of the transaction: Outside a trading venue

 

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