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    FDEV   GB00BBT32N39

FRONTIER DEVELOPMENTS PLC

(FDEV)
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Frontier Developments : Publishing Partnership Agreement

06/11/2019 | 04:43am EST

Publishing Partnership Agreement

Released : 11 June 2019 09:30

RNS Number : 8110B

Frontier Developments PLC

11 June 2019

11 June 2019

Frontier Developments plc

Publishing partnership agreement with Haemimont Games

Surviving Mars and Tropico developer first signee to Frontier Publishing

Frontier Developments plc (AIM: FDEV, "Frontier", the "Company"), a leading developer and publisher of videogames based in Cambridge, is pleased to announce a publishing partnership with experienced developer Haemimont Games (the "Agreement").

As referenced in the Company's 2018 annual results, external partnerships (including third party publishing agreements where Frontier brings other developers' games to market) are expected to form an important element within the Company's plans as it continues to grow its portfolio. The Agreement marks the first publishing partnership under Frontier's new Frontier Publishing initiative.

Haemimont Games ("Haemimont"), founded in 1997 in Bulgaria, boasts a passionate team of over 60 highly skilled people and a wealth of experience in the strategy and management game genres, developing the hit title Surviving Mars and titles in the Tropico series. The partnership will see Frontier and Haemimont work together on a new project for release in two to three years' time, with Frontier providing the development funding as well as marketing and distribution.

This deal is strategic and the first step to growing Frontier's publishing business with third party titles. The Board expects the publishing business to become a material contributor to the group in years to come, as more partnerships are agreed.

Frontier CEO David Braben said: "This is a strong start for Frontier Publishing ‐ we're delighted to partner with a studio of the quality of Haemimont. Our Frontier Publishing initiative helps us to further expand our game portfolio through external development partnerships that supplement our own internal development roadmap. We are in discussions with other developers and hope to be able to announce further publishing partnerships in the future."

Gabriel Dobrev, CEO at Haemimont Games said: "Partnering with Frontier, who have a long history with great, innovative titles, is the perfect fit for us at Haemimont Games. We're proud to be the first partner for Frontier Publishing and can't wait to reveal details on our brand new project in the future."

Frontier CCO Jonny Watts said: "Haemimont has a great reputation within the industry and we're excited to start this working relationship. From the beginning of discussions it was clear both companies have a strong passion for the management and strategy genre that makes this an ideal match."

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

finnCap ‐ Joint Broker

+44 (0) 207 220 0500

Matt Goode / Giles Rolls / Alice Lane

Tulchan Communications

+44 (0) 207 353 4200

Matt Low

About Frontier

Frontier is a leading developer and publisher of 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

About Haemimont Games

Haemimont Games is an independent game development team brought together by a common passion: to thrill, engage and provoke gamers worldwide.

Using its own proprietary technology, the studio has developed a number of games including entries in the Tropico series, Victor Vran and Surviving Mars.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.comor visit www.rns.com.

END

AGREAPKFFAXNEEF

Disclaimer

Frontier Developments plc published this content on 11 June 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 June 2019 08:42:04 UTC


ę Publicnow 2019
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Financials
Sales 2023 107 M 129 M 129 M
Net income 2023 5,71 M 6,90 M 6,90 M
Net cash 2023 30,3 M 36,5 M 36,5 M
P/E ratio 2023 27,7x
Yield 2023 -
Capitalization 191 M 231 M 231 M
EV / Sales 2023 1,50x
EV / Sales 2024 1,50x
Nbr of Employees 792
Free-Float 55,3%
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 490,50 GBX
Average target price 836,69 GBX
Spread / Average Target 70,6%
EPS Revisions
Managers and Directors
Jonathan Francis Watts Chief Executive Officer & Director
David John Braben President & Director
Alex Bevis Chief Financial Officer & Director
David Charles Wilton Chairman
James Dixon Chief Operating Officer & Director
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