Business
Result of secondary placing
Result of secondary placing.
About this update from Frontier Developments Plc
[{"type":"text","content":"\n \nRNS Number : 3597R Frontier Developments PLC 21 September 2017 \n\nNot for publication, distribution or release, directly or indirectly, in whole or in part, in or into the United States, Australia, Canada, Japan or Republic of South Africa or any other jurisdiction in which such release, publication or distribution would be unlawful.\n \n21 September 2017\n \n \nFrontier Developments plc \n(\"Frontier\" or the \"Company\")\n \nResult of secondary placing and Director/PDMR shareholdings\nFrontier Developments plc (AIM: FDEV), announces that it has been notified by certain Directors of the Company (the \"Selling Shareholders\"), that, further to the announcement of 20 September 2017, they have successfully sold a total of 3,850,748 ordinary shares in the Company (\"Placing Shares\") at a price of 920 pence per Placing Share (the \"Placing\"). The Placing Shares in aggregate represent approximately 10.1% of the Company's issued share capital1. \n \nOn completion of the Placing, the Selling Shareholders shall have the following resultant shareholdings:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nResultant holding1\n\n\n\n\n\n\n\nDirector\n\n\nShareholding immediately prior to the Placing and Exercise\n\n\nOptions Exercised \n\n\nNumber of Placing Shares sold\n\n\nOrdinary Shares\n\n\n% \n\n\n \n\n\n\n\nDavid Braben\n\n\n17,160,953\n\n\nNil\n\n\n3,000,000\n\n\n14,160,953\n\n\n37.1\n\n\n \n\n\n\n\nDavid Walsh\n\n\n422,910\n\n\n300,000\n\n\n722,910\n\n\nNil\n\n\nNil\n\n\n \n\n\n\n\nJonathan Watts\n\n\n67,838\n\n\n100,000\n\n\n127,838\n\n\n40,000\n\n\n0.1\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n1Based on the increased issued share capital following the Exercises\n \nThe Placing was conducted through an accelerated bookbuild by Liberum Capital Limited (\"Liberum\") and finnCap Ltd (\"finnCap\") acting as Joint Bookrunners. The proceeds of the Placing are payable in cash on usual settlement terms and the Placing is expected to settle on a T+2 basis on 25 September 2017.\nThe Selling Shareholders have undertaken that, without the prior written consent of Liberum and finnCap, they will not dispose of any further Ordinary Shares for a period ending on the first anniversary of completion of the Placing (subject to customary exceptions). Following completion of the Placing, Professional Pra...