Frontier Smart Technologies Grp Ltd Director Dealings and Grant of Options (1665W)
February 07 2017 - 2:00AM
UK Regulatory
TIDMFST
RNS Number : 1665W
Frontier Smart Technologies Grp Ltd
07 February 2017
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 Initial notification
notification
/Amendment
-------- ----------------------- -------------------------------------------------
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 Options over Ordinary Shares of
of the financial GBP0.10
instrument,
type of
instrument ISIN: KYG898521003
Identification
code
-------- ----------------------- -------------------------------------------------
b) Nature of Grant of options
the transaction
-------- ----------------------- -------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------------------- ---------------
Nil paid, exercise
price of 78.5
pence 750,000
------------------------- ---------------
-------- ----------------------- -------------------------------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
* Price
-------- ----------------------- -------------------------------------------------
e) Date of 6 February 2017
the transaction
-------- ----------------------- -------------------------------------------------
f) Place of n/a
the transaction
-------- ----------------------- -------------------------------------------------
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 GBP0.10
of the financial
instrument,
type of ISIN: KYG898521003
instrument
Identification
code
-------- ----------------------- -------------------------------------------------
b) Nature of Purchase of Ordinary Shares
the transaction
-------- ----------------------- -------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------------- ---------------
1. 79.5 pence 1. 25,000
2. 79.0 pence 2. 25,000
------------------- ---------------
-------- ----------------------- -------------------------------------------------
d) Aggregated
information
- Aggregated 50,000 shares
volume 79.25p
* Price
-------- ----------------------- -------------------------------------------------
e) Date of 6 February 2017
the transaction
-------- ----------------------- -------------------------------------------------
f) Place of AIM Market of the London Stock
the transaction 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 Initial notification
notification
/Amendment
-------- ----------------------- -------------------------------------------------
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 Options over Ordinary Shares of
of the financial GBP0.10
instrument,
type of
instrument ISIN: KYG898521003
Identification
code
-------- ----------------------- -------------------------------------------------
b) Nature of Grant of options
the transaction
-------- ----------------------- -------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------------------- ---------------
Nil paid, exercise
price of 78.5
pence 370,000
------------------------- ---------------
-------- ----------------------- -------------------------------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
* Price
-------- ----------------------- -------------------------------------------------
e) Date of 6 February 2017
the transaction
-------- ----------------------- -------------------------------------------------
f) Place of n/a
the transaction
-------- ----------------------- -------------------------------------------------
- Ends -
For further enquiries:
Frontier Smart Technologies +44 (0) 20
Group Ltd 7391 0630
Anthony Sethill, Chief Executive
Officer
Jonathan Apps, Chief Financial
Officer
Peel Hunt LLP (Nominated Adviser +44 (0) 20
and Broker) 7418 8900
Richard Kauffer/ Euan Brown
+44 (0) 20
Buchanan (Financial PR) 7466 5000
Henry Harrison-Topham/ Steph FST@buchanan.uk.com
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/
This information is provided by RNS
The company news service from the London Stock Exchange
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