7th Feb 2017 07:00
For immediate release | 7 February 2017 |
Frontier Smart Technologies Group Ltd
('Frontier' or the 'Company')
Director Dealings and Grant of Options
Director's Dealings
Frontier (AIM: FST), a pioneer in technologies for Digital Radio and Smart Audio devices, announces that on 6 February 2017 the Company was notified that on the same day Anthony Sethill, Frontier's Chief Executive Officer, purchased 50,000 Ordinary Shares of 10 pence each in the Company ('Ordinary Shares') at an average price of 79.25 pence per Ordinary Share.
Following this transaction, Anthony Sethill holds 150,000 Ordinary Shares representing approximately 0.35% of the issued share capital of the Company.
Grant of Options
Frontier also announces that on 6 February 2017, it granted options to senior management over 2.5 million Ordinary Shares, representing approximately 5.85% of the current issued share capital.
The options shall vest in equal proportions over two, three and four years at an exercise price of 78.5 pence, being the average mid-market closing price for the 30 days prior to 6 February. The options become exercisable either on the date of vesting providing the mid-market closing share price has been greater than 160 pence for 30 consecutive days ("the Hurdle") during the vesting period, or during the period from vesting up to ten years from date of grant assuming the Hurdle is met. Should the Hurdle not be met, the options shall lapse.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.
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 | Anthony Sethill | ||||
2 | Reason for the notification | |||||
a) | Position/status | CEO | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Frontier Smart Technologies Group Limited | ||||
b) | LEI | N/A | ||||
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 of the financial instrument, type of instrument Identification code | Options over Ordinary Shares of £0.10
ISIN: KYG898521003 | ||||
b) | Nature of the transaction | Grant of options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A - single transaction | ||||
e) | Date of the transaction | 6 February 2017 | ||||
f) | Place of the transaction | n/a | ||||
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 of the financial instrument, type of instrument Identification code | Ordinary shares of £0.10
ISIN: KYG898521003 | ||||
b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
50,000 shares 79.25p
| ||||
e) | Date of the transaction | 6 February 2017 | ||||
f) | Place of the transaction | AIM Market of the London Stock Exchange | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Jonathan Apps | ||||
2 | Reason for the notification | |||||
a) | Position/status | CFO | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Frontier Smart Technologies Group Limited | ||||
b) | LEI | N/A | ||||
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 of the financial instrument, type of instrument Identification code | Options over Ordinary Shares of £0.10
ISIN: KYG898521003 | ||||
b) | Nature of the transaction | Grant of options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A - single transaction | ||||
e) | Date of the transaction | 6 February 2017 | ||||
f) | Place of the transaction | n/a | ||||
- Ends -
For further enquiries:
Frontier Smart Technologies Group Ltd | +44 (0) 20 7391 0630 |
Anthony Sethill, Chief Executive Officer | |
Jonathan Apps, Chief Financial Officer | |
Peel Hunt LLP (Nominated Adviser and Broker) | +44 (0) 20 7418 8900 |
Richard Kauffer/ Euan Brown | |
Buchanan (Financial PR) | +44 (0) 20 7466 5000 |
Henry Harrison-Topham/ Steph Watson |
About Frontier Smart Technologies
Frontier is a pioneer in software and hardware technologies for Digital Audio devices. The Group has one operating division, Frontier Silicon, which provides solutions for Digital Radio and Smart Audio devices.
Frontier was founded in 2002. Customers include many leading consumer audio brands: Bose, Bowers & Wilkins, Denon, Grundig, harman/kardon (JBL), Onkyo, Panasonic, Philips, Pioneer, Pure, Roberts, Sony, TechniSat, Yamaha, and many more.
The Group is headquartered in London, with engineering, sales and operations teams in Cambridge, Timisoara (Romania), Hong Kong, and Shenzhen. Please visit http://www.frontiersmart.com/
Related Shares:
FST.L