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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Frontier Developments Plc | LSE:FDEV | London | Ordinary Share | GB00BBT32N39 | ORD 0.5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 5.00 | 2.43% | 210.50 | 210.00 | 212.00 | 212.00 | 204.00 | 210.00 | 80,009 | 16:35:12 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Manufacturing Industries,nec | 104.58M | -20.91M | -0.5303 | -4.00 | 83.58M |
From Apr 2019 to Apr 2024
TIDMFDEV
RNS Number : 3597R
Frontier Developments PLC
21 September 2017
Not for publication, distribution or release, directly or indirectly, in whole or in part, in or into the United States, Australia, Canada, Japan or Republic of South Africa or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.
21 September 2017
Frontier Developments plc
("Frontier" or the "Company")
Result of secondary placing and Director/PDMR shareholdings
Frontier 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 capital(1) .
On completion of the Placing, the Selling Shareholders shall have the following resultant shareholdings:
Hot Features
Premium
Resultant holding(1)
Shareholding Options Exercised
immediately
prior to Number of
the Placing Placing Ordinary
Director and Exercise Shares sold Shares %
David Braben 17,160,953 Nil 3,000,000 14,160,953 37.1
David Walsh 422,910 300,000 722,910 Nil Nil
Jonathan
Watts 67,838 100,000 127,838 40,000 0.1
(1) Based on the increased issued share capital following the Exercises
The 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.
The 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 Practice Automation LLP ("PPA"), a limited liability partnership in which David Braben is a member and through which he is interested in 2,001,573 Ordinary Shares, intends to transfer 1,990,573 Ordinary Shares to Mr. Braben's spouse for nil consideration (the "Transfer"). Following the Transfer, which is expected to occur by no later than 30 November 2017, Mrs. Irvin-Braben will be subject to the terms of the lock up agreement.
The Company is not a party to the Placing and will not receive any proceeds from the Placing.
Capitalised terms not defined in this announcement have the same meaning as set out in the announcement of the Company dated 20 September 2017.
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.
For further information, please contact:
+44 (0)1223 394
Frontier Developments 300
David Braben, CEO
Alex Bevis, CFO
David Walsh, COO
+44 (0)20 3100
Liberum - Nomad and Bookrunner 2000
Neil Patel / Cameron Duncan
+44 (0)20 7200
finnCap - Joint Bookrunner 0500
Matt Goode / Giles Rolls (Corporate
Finance)
Alice Lane (Corporate Broking)
Tulchan Communications
+44 (0) 207 353
James Macey White / Matt Low 4200
About Frontier Developments plc
Frontier Developments plc, listed on the AIM stock market (AIM: FDEV), is a leading independent creator of self-published videogame franchises founded in 1994 by David Braben, co-author of the seminal '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.
www.frontier.co.uk
MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS ANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH IT RELATES ARE ONLY ADDRESSED TO AND DIRECTED AT (1) IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, PERSONS WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF ARTICLE 2(1)(E) OF EU DIRECTIVE 2003/71/EC AND ANY RELEVANT IMPLEMENTING MEASURES (THE "PROSPECTUS DIRECTIVE"); (2) IN THE UNITED KINGDOM, PERSONS WHO (I) HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMED) (THE "ORDER"); OR (II) FALL WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER OR (III) ARE PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE LAWFULLY BE MADE; AND (3) IN THE UNITED STATES OR TO ANY US PERSONS (AS SUCH TERM IS DEFINED IN REGULATION S ("REGULATION S") UNDER THE US SECURITIES ACT OF 1933, AS AMED (THE "SECURITIES ACT")), TO QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT (ALL SUCH PERSONS REFERRED TO IN (1), (2) AND (3) TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THE INFORMATION REGARDING THE PLACING SET OUT IN THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.
This announcement and the information contained herein is for information purposes only and does not constitute or form part of any offer or an invitation to acquire or dispose of securities in the United States, Australia, Canada, Japan or South Africa or in any other jurisdiction in which such an offer or invitation is unlawful ("Restricted Jurisdictions"). Neither this announcement nor any copy of it may be taken, transmitted or distributed, directly or indirectly, in or into or from any Restricted Jurisdiction. Any failure to comply with this restriction may constitute a violation of securities laws in the relevant Restricted Jurisdiction.
The Placing Shares are not being made available to the public and none of the Placing Shares are being offered or sold in any jurisdiction where it would be unlawful to do so. The Placing Shares have not been and will not be registered under the relevant laws of any of the Restricted Jurisdictions or any state, province or territory thereof and may not be offered, sold, resold, delivered or distributed, directly or indirectly in or into any Restricted Jurisdiction or to, or for the account or benefit of, any person with a registered address in, or who is a resident of or ordinarily resident in, or a citizen of, any Restricted Jurisdiction except pursuant to an applicable exemption.
The Placing Shares have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any state or other jurisdiction of the United States, and, absent registration, may not be offered or sold in the United States or to, or for the account or benefit of, US Persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any relevant state or other jurisdiction of the United States. There will be no public offering of the Placing Shares in the United States or elsewhere. Any offers and sales of the Placing Shares to US persons (as such term is defined in Regulation S under the Securities Act) will be made only to persons who are "qualified institutional buyers" as defined in Rule 144A under the Securities Act.
The Placing Shares have not been approved or disapproved by the US Securities and Exchange Commission, any state securities commission or other regulatory authority in the United States, nor have any of the foregoing authorities passed upon or endorsed the merits of the Placing or the accuracy or adequacy of this announcement. Any representation to the contrary is a criminal offence in the United States.
No prospectus or offering document has been or will be prepared in connection with the Placing. Any investment decision to buy securities in the Placing must be made solely on the basis of publicly available information. Such information is not the responsibility of and has not been independently verified by the Company, the Selling Shareholders, Liberum or finnCap or any of their respective affiliates.
The distribution of this announcement and the offering or sale of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken by the Company, the Selling Shareholders, Liberum, finnCap or any of their respective affiliates that would, or which is intended to, permit a public offer of the Placing Shares in any jurisdiction or possession or distribution of this announcement or any other offering or publicity material relating to the Placing Shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by the Company, the Selling Shareholders,Liberum and finnCap to inform themselves about and to observe any applicable restrictions.
Liberum which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting only for the Selling Shareholders in connection with the Placing and will not be responsible to anyone other than the Selling Shareholders for providing the protections offered to the clients of Liberum, nor for providing advice in relation to the Placing or any matters referred to in this announcement.
finnCap which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting only for the Selling Shareholders in connection with the Placing and will not be responsible to anyone other than the Selling Shareholders for providing the protections offered to the clients of finnCap, nor for providing advice in relation to the Placing or any matters referred to in this announcement.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 Details of the person discharging managerial
responsibilities/person closely associated
--- ----------------------------------------------------------------------------------
a) Name 1. David Walsh
2. Jonathan Watts
--- ------------------------------------ --------------------------------------------
2 Reason for the notification
--- ----------------------------------------------------------------------------------
a) Position/status 1. Director, Chief Operating Officer
2. Director, Chief Creative Officer
--- ------------------------------------ --------------------------------------------
b) Initial Initial notification
notification/
Amendment
--- ------------------------------------ --------------------------------------------
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 Ordinary Shares of 0.5p each
of the
financial
instrument,
type of
instrument
GB00BBT32N39
Identification
code
--- ------------------------------------ --------------------------------------------
b) Nature Acquisition of shares linked to
of the exercises under share option programmes
transaction
--- ------------------------------------ --------------------------------------------
c) Price(s) David Walsh:
and volume(s) Price(s) Volume(s)
---------- ----------
89.0p 20,000
95.0p 180,000
257.5p 100,000
---------- ----------
Jonathan Watts:
Price(s) Volume(s)
--------- ----------
257.5p 100,000
--------- ----------
--- ------------------------------------ --------------------------------------------
d) Aggregated
information 1. David Walsh
Aggregated Volume: 300,000
* Aggregated volume Aggregated Price: 148.77p
Aggregated Total: GBP446,300
2. Jonathan Watts
Not applicable - single transaction
* Price
* Aggregated Total
--- ------------------------------------ --------------------------------------------
e) Date of 20 September 2017
the transaction
--- ------------------------------------ --------------------------------------------
f) Place of Outside a trading venue
the transaction
--- ------------------------------------ --------------------------------------------
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 Details of the person discharging managerial
responsibilities/person closely associated
--- ----------------------------------------------------------------------
a) Name 1. David Braben
2. David Walsh
3. Jonathan Watts
--- ------------------------- -------------------------------------------
2 Reason for the notification
--- ----------------------------------------------------------------------
a) Position/status 1. Director, Chief Executive Officer
2. Director, Chief Operating Officer
3. Director, Chief Creative Officer
--- ------------------------- -------------------------------------------
b) Initial Initial notification
notification/
Amendment
--- ------------------------- -------------------------------------------
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 Ordinary Shares of 0.5p each
of the
financial
instrument,
type of
instrument
GB00BBT32N39
Identification
code
--- ------------------------- -------------------------------------------
b) Nature Disposal
of the
transaction
--- ------------------------- -------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) -------------- -----------
1. David
Braben
920p
2. David 3,000,000
Walsh
920p
722,910
3. Jonathan
Watts
920p 127,838
-------------- -----------
--- ------------------------- -------------------------------------------
d) Aggregated
information 1. David Braben
Not applicable - single transaction
* Aggregated volume 2. David Walsh
Not applicable - single transaction
3. Jonathan Watts
Not applicable - single transaction
* Price
--- ------------------------- -------------------------------------------
e) Date of 21 September 2017
the transaction
--- ------------------------- -------------------------------------------
f) Place of London Stock Exchange
the transaction
--- ------------------------- -------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSEWFASFWSEEU
(END) Dow Jones Newswires
September 21, 2017 02:00 ET (06:00 GMT)
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