RNS Number : 3635I
Focusrite PLC
23 November 2018
 

Focusrite plc

 

("the Company" or "the Group")

 PDMR

 Dealings

Grant of Share Options

 

Focusrite plc (AIM:TUNE), the global music and audio products company that trades under the Focusrite and Novation brands, announces that on 20 November 2018 Damian Hawley and Giles Orford, each being a Person Discharging Managerial Responsibilities ("PDMRs"), exercised nominal cost options granted to them under the Company's Performance Share Plan and acquired ordinary shares of 0.1p each in the Company.

 

The options were granted on 16 December 2015 and vested on 20 November 2018. The number of shares in respect of which each award could be exercised was determined by reference to the extent to which a performance condition measuring growth in the Company's Adjusted Profit was met.

 

Exercised awards were settled in cash to the extent needed to cover each PDMR's liability to income tax and employee national insurance arising on the exercise of their award. The shares acquired by the PDMRs represent the balance of their award.

 

Immediately following exercise, each PDMR immediately transferred the full number of shares they acquired in connection with exercise to their respective spouses (each spouse being a person closely associated with the relevant PDMR) for nil consideration.

 

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.

  

 

1

Details of the persons discharging managerial responsibilities I person closely associated

a)

Name

 Damian Hawley

2

Reason for the notification

a)

Position/status

 Director of Global Marketing and Sales

b)

Initial notification /Amendment

 Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Focusrite plc

b)

LEI

213800JJ51KA4LOTF736

4A

Details of the transaction(s): section tobe 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

Ordinary Shares of 0.1p each in Focusrite plc

Identification code

 

GB00BSBMW716

b)

Nature of the transaction

Exercise of a nominal cost option under the Focusrite plc Performance Share Plan and acquisition of ordinary shares of 0.1p each in Focusrite plc (or, as to 47% of the acquired shares, cash in lieu of such shares).

c)

Price(s) and volume(s)

 

Price(s)

Volumes

£21.66

21,657

(of which, 10,179 were settled in cash in lieu of shares, and 11,478 were settled in shares)

 

 

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

20 November 2018

f)

Place of the transaction

Outside a trading venue

4B

Details of the transaction(s): section tobe 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

Ordinary Shares of 0.1p each in Focusrite plc

Identification code

 

GB00BSBMW716

b)

Nature of the transaction

Transfer of shares to Lisa Hawley (spouse) for nil consideration

c)

Price(s) and volume(s)

 

Price(s)

Volumes

Nil

11,478

 

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

20 November 2018

f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the persons discharging managerial responsibilities I person closely associated

a)

Name

 Giles Orford

2

Reason for the notification

a)

Position/status

 Brand Director

b)

Initial notification /Amendment

 Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Focusrite plc

b)

LEI

213800JJ51KA4LOTF736

4A

Details of the transaction(s): section tobe 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

Ordinary Shares of 0.1p each in Focusrite plc

Identification code

 

GB00BSBMW716

b)

Nature of the transaction

Exercise of a nominal cost option under the Focusrite plc Performance Share Plan and acquisition of ordinary shares of 0.1p each in Focusrite plc (or, as to 47% of the acquired shares, cash in lieu of such shares).

c)

Price(s) and volume(s)

 

 

Price(s)

Volumes

£16.65

16,648

(of which, 7,825 were settled in cash in lieu of shares, and 8,823 were settled in shares)

 

 

 

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

20 November 2018

f)

Place of the transaction

Outside a trading venue

4B

Details of the transaction(s): section tobe 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

Ordinary Shares of 0.1p each in Focusrite plc

Identification code

 

GB00BSBMW716

b)

Nature of the transaction

Transfer of shares to Fiona Orford (spouse) for nil consideration

c)

Price(s) and volume(s)

 

Price(s)

Volumes

Nil

8,823

 

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

20 November 2018

f)

Place of the transaction

Outside a trading venue

 

-ends-

 

Enquiries:

 

Focusrite plc:

 

Tim Carroll (CEO)

+44 1494 462246

Jeremy Wilson (CFO)

+44 1494 462246

 

 

Panmure Gordon

(Nominated Adviser and Broker)

 

Freddy Crossley

+44 20 7886 2500

Erik Anderson

 

 

 

Belvedere Communications

 

John West

+44 20 3567 0510

Kim Van Beeck

+44 20 3567 0510

 


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