Frontier Development PLC — Director's Dealing 2016

Sep 9, 2016

National Storage Mechanism | Additional information

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RNS Number : 4400J

AFI Development PLC

09 September 2016

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The notification below is made in accordance with the requirements of the EU Market Abuse Regulation

1.	Details of PDMR/person closely associated with them (PCA)
(a)	Name			Lev Leviev
(b)	Position/status			Director (Executive Chairman)
(c)	Initial notification/ amendment			Initial Notification
2.	Details of the issuer
a)	Name	AFI Development PLC
3.	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		GDRs of US$0.001 each B ordinary shares of US$0.001 each
(b)	Nature of the transaction		1.   Purchase of securities. Acquisition from Africa Israel Investments Ltd of: 336,948,796 GDRs; and 342,799,658 B ordinary shares 2.   Grant of call option to Africa Israel Investments Ltd. in respect of 51,933,807 GDRs and 52,835,598 B ordinary shares Flotonic Limited, the acquiror of the above GDRs and B ordinary shares and which is indirectly owned and controlled as to 100% by Mr Leviev, has granted a pledge in respect of 336,948,796 GDRs and 342,799,658 B ordinary shares in connection with the financing of the above purchase of securities
(c)	Price(s) and volume(s)				Price(s)	Volume(s)
	PURCHASE				NIS 0.80912284 per GDR	336,948,796 GDRs
	PURCHASE				NIS 0.80912284 per B ordinary share	342,799,658 B ordinary shares
	CALL OPTION				US$0.216  per GDR US$0.295 per B ordinary share	51,933,807 GDRs 52,835,598 B ordinary shares
(d)	Aggregated information Aggregated volume Price		Total consideration NIS 550,000,000 for 679,748,454 securities in AFI Development PLC
(e)	Date of the transaction		2016-09-07 (Israel Daylight Time)
(f)	Place of the transaction		Outside a trading venue

This information is provided by RNS

The company news service from the London Stock Exchange

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