Annual Report and Accounts 2014
Please download the Annual Report and Accounts for Financial Year ending May 2014 via this link.
We have been made aware that one section of this Annual Report and Accounts could have improved wording. This is a minor point and not material to Frontier's business, but we are happy to clarify here as follows:
Elite sequel rights
On 6 May 2014 we acquired the assets of Professional Practice Automation LLP (PPA), a limited liability partnership in which David Braben is a controlling member, for £5.15 million through the allotment and issue to PPA, credited as fully paid, of 2,001,573 new ordinary 0.5 pence shares. The assets included
the his remaining franchise royalty rights in respect of the Elite video game franchise. David Braben assigned these rights to the Company in June 2008 in return for a royalty based on Frontier’s profits from the Elite video game franchise, the benefit of which was held by PPA.