PCA Dealing
Released : 26 November 2019 17:29
RNS Number : 7584U
Frontier Developments PLC
26 November 2019
Not for publication, distribution or release, directly or indirectly, in whole or in part, in or into the United States, Australia, Canada, Japan or Republic of South Africa or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.
26 November 2019
Frontier Developments plc
("Frontier" or the "Company")
PCA Dealing
Frontier Developments plc (AIM: FDEV), announces that it has been notified by Wendy Irvin-Braben (the "Selling Shareholder") that, further to the announcement earlier today, she has successfully sold a total of 1,250,000 ordinary shares in the Company ("Sale Shares") at a price of 1,200 pence per Sale Share (the "Sale"). The Sale Shares in aggregate represent approximately 3.2% of the Company's issued share capital. The Selling Shareholder is the wife of, and therefore a person closely associated with, the chief executive officer of the Company, David Braben.
The Selling Shareholder and David Braben have undertaken that, without the prior written consent of Jefferies International Limited and Liberum Capital Limited, they will not dispose of any further Ordinary Shares for a period of 360 days after completion of the Sale (subject to customary exceptions).
Following completion of the Sale, Wendy Irvin-Braben continues to hold 740,573 Ordinary Shares or 1.9% of the issued share capital of the Company. Therefore, including Wendy Irvin-Braben's residual shareholding, following completion of the Sale David Braben will have a total interest of 12,899,953 Ordinary Shares or 33.2% of the issued share capital of the Company.
The Company is not a party to the Sale and will not receive any proceeds from the Sale.
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation (EU) 596/2014. The person responsible for making this announcement on behalf of the Company is Alex Bevis.
Enquiries: | |
Frontier Developments | +44 (0)1223 394 300 |
David Braben, CEO | |
Alex Bevis, CFO | |
Liberum - Nomad and Joint Broker | +44 (0)20 3100 2000 |
Neil Patel / Cameron Duncan | |
Jefferies - Joint Broker | +44 (0)20 7029 8000 |
Max Jones / William Brown |
Tulchan Communications | +44 (0)20 7353 4200 |
Matt Low / Deborah Roney / James Macey White
About Frontier Developments plc
Frontier is a leading independent creator of self-published videogame franchises 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 games, currently focusing on videogame consoles and personal computers.
Frontier's LEI number: 213800B9LGPWUAZ9GX18.
www.frontier.co.uk
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely
associated with them
1Details of the person discharging managerial responsibilities/person closely associated
a) | Name | 1. | Wendy Irvin-Braben |
2 | Reason for the notification | ||
a) | Position/status | 1. | Spouse of David Braben, Chief Executive Officer and a Director |
b) | Initial notification/ | Initial notification | |
Amendment | |||
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) | Name | Frontier Developments plc |
- LEI
213800B9LGPWUAZ9GX18
4Details 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 | Ordinary Shares of 0.5p each | ||
financial instrument, | ||||
type of instrument | ||||
Identification code | ||||
GB00BBT32N39 | ||||
b) | Nature of the | Disposal of shares | ||
transaction | ||||
c ) | Price(s) and | Wendy Irvin-Braben: | ||
volume(s) | ||||
Price(s) | Volume(s) | |||
1, 2 0 0 p | 1,250,000 | |||
- Aggregated information
− Aggregated
volume | 1,250,000 | ||
− | Price | 1,200p | |
− | Aggregated | £15,000,000 | |
Total | |||
e) | Date of the | 26/11/2019 | |
transaction |
f ) | Place of the | London Stock Exchange |
transaction | ||
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Disclaimer
Frontier Developments plc published this content on 26 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2019 17:42:04 UTC