Frontier Developments PLC EBT Share Purchase (4348Z)

TIDMFDEV

RNS Number : 4348Z

Frontier Developments PLC

15 May 2023

15 May 2023

Frontier Developments plc

EBT Share Purchase

Frontier Developments plc (AIM: FDEV, "Frontier", the "Company") was notified on 12 May 2023, by Ocorian Limited, the trustee of the Frontier Developments plc Employee Benefit Trust (the "EBT"), that the EBT had purchased 68,623 ordinary shares of 0.5p each in the Company ("Ordinary Shares") at an average price of 533 pence per Ordinary Share on 12 May 2023. These Ordinary Shares are to be held in the EBT and are intended to be used to satisfy the exercise of share options by employees. The EBT is a discretionary trust for the benefit of the Company's employees, including the Directors of the Company. The purchase of Ordinary Shares by the EBT has been funded from the Company's existing cash resources.

Following this transaction, a total of 473,714 Ordinary Shares are held by the EBT, representing approximately 1.20 per cent of the Company's total voting rights.

Enquiries :

   Frontier Developments   [phone] 

Jonny Watts, CEO

Alex Bevis, CFO

   Liberum - Nomad and Joint Broker    [phone] 

Andrew Godber / Nikhil Varghese

   Jefferies - Joint Broker   [phone] 

Philip Noblet / William Brown

   Tulchan Communications   [phone] 

Matt Low / Mark Burgess / Alex Dart

About Frontier Developments plc

Frontier is a leading independent developer and publisher of videogames 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 genre-leading games, primarily for personal computers and videogame consoles. As well as self-publishing internally developed games, Frontier also publishes games developed by carefully selected partner studios under its Frontier Foundry games label.

Frontier's LEI number: 213800B9LGPWUAZ9GX18.

www.frontier.co.uk

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 [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

POSGPUPWAUPWGUA

(END) Dow Jones Newswires

May 15, 2023 06:35 ET (10:35 GMT)