Today 20 February 2014
Some positive news this morning from FRONTIER DEVELOPMENTS, just a week after announcing its Interim results.
This concerned the inking of two new development agreements with a major new Global Publishing Partner.
Under the terms of the agreement Frontier will deliver two exclusive original games using its proprietary Cobra technology which will drive support for the partner’s own hardware and technology eco-system.
The contracts are worth a combined total value of £3.75m, which will be earned and recognised during the current and next financial year, which ends 31 May 2015. The fact that this is a major new player in the games market would appear to be a solid endorsement and is welcome news for holders of the shares, which closed up 10.5p to a new high of £1.93p
David Braben added,
"Frontier's reputation for innovative design, high quality and timely delivery creates regular opportunities for us to partner with some of the largest and very best companies in our industry.
"These contracts acknowledge Frontier's qualities and add two exciting new games to our project roster, both of which were ideas generated through our company-wide 'Game of the Week' incubation programme.
"In addition, they demonstrate the ongoing commitment to working with strategic publishing partners that forms an important part of our plan for the Company's continued development."
Having mentioned GETECH a few days ago after a none too pleasing update to holders, I have been keeping an eye on the share price.
Today, saw further retraction in this one and I was interested to see it at one point touch 59p on my monitor. Clearly I was not the only one keeping an eye and some watchers or maybe even existing holders decided to buy or add, resulting in a close at 64.75p down around 0.75p on the day.
That perhaps gives a guide for a level of support and it should be interesting to see how this plays in the coming weeks.
If Getech can deliver as it expects, then those that picked up today should do well.
However, there remains that level of uncertainty for now, or the door left ajar so to speak as I mentioned in the recent comment.
Still, one I intend to keep a further eye on.