11 March 2015
Frontier Developments plc
(the "Company")
EBT and Directors' Dealings
Frontier Developments plc (AIM: FDEV, "Frontier", the "Group"), a leading developer of video games, announces the following dealings:
Employee Benefit Trust Dealings
The Company was notified today by Appleby Trust (Jersey) Limited, the trustee of the Frontier Developments plc Employee Share Ownership Plan Trust (the "EBT"), that the EBT transferred 121,000 ordinary shares of 0.5p each in the Company ("Ordinary Shares") to certain of the Company's employees on 11 March 2015 in order to satisfy the exercise of share options. These options had an average exercise price of 74 pence per Ordinary Share. The EBT also purchased 29,534 Ordinary Shares at 230 pence per Ordinary Share on 11 March 2015.
Following this transaction, the EBT is interested in 59,965 Ordinary Shares, representing 0.2 per cent of the Company's total issued share capital.
The EBT is a discretionary trust for the benefit of employees of the Company and its subsidiaries, who have been granted share options. The Executive Directors of the Company are included in the class of potential beneficiaries of the EBT and are deemed to be interested in those shares and the dealings thereof.
Directors' Dealings
As part of the dealings referred to above, Jonathan Watts, Chief Creative Officer has today exercised share options in respect of 30,000 Ordinary Shares at an exercise price of 67 pence per Ordinary Share.
Neil Armstrong, Chief Financial Officer (an applicable employee under the AIM Rules) has today exercised share options in respect of 12,500Ordinary Shares at an exercise price of 89 pence per Ordinary Share.
Following the exercise of these options, Mr. Watts and Mr. Armstrong today sold 8,740 Ordinary Shares and 4,837 Ordinary Shares respectively at a price of 230p per Ordinary Share to meet the exercise costs and associated tax liabilities.
Following these option exercises and related sales, the interests of Mr. Watts and Mr. Armstrong are as follows:
|
Director |
Number of Ordinary Shares prior to transactions |
Number of Ordinary Shares following transactions |
Total resulting interest in Ordinary Shares as % of issued share capital |
|
Jonathan Watts |
23,500 |
44,760 |
0.1% |
|
Neil Armstrong |
18,500 |
26,163 |
0.1% |
Enquiries:
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Frontier Developments |
+44 (0)1223 394 300 |
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David Braben, CEO David Walsh, COO Neil Armstrong, CFO |
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Canaccord Genuity |
+44 (0) 207 523 8000 |
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Simon Bridges/Cameron Duncan |
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Finncap |
+44 (0) 207 220 0506 |
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Charlotte Stranner |
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Tulchan Communications |
+44 (0) 207 353 4200 |
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James Macey White |
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This information is provided by RNS