Grant of Share Options to Directors

RNS Number : 7391Y

Focusrite PLC

03 January 2020

 

Focusrite plc

("the Company" or "the Group")

Directors' Dealings

Grant of Share Options to Directors

Focusrite plc (AIM:TUNE), the global music and audio products company that trades under the Focusrite and Novation brands, announces that on 23 December 2019 it granted nominal cost options over ordinary shares of 0.1p each in the capital of the Company under the Company's Performance Share Plan to certain 'persons discharging managerial responsibilities' of the Company ("PDMRs") as listed below.  

PDMR	No. of shares under option
Tim Carroll	47,263
Jeremy Wilson	35,655
Damian Hawley	12,520
Tim Dingley	11,691
Giles Orford	9,151
Simon Holt	9,394

The options will ordinarily vest on the third anniversary of the grant date, subject to the Remuneration Committee's determination of the extent to which the performance condition applicable to the award has been satisfied and to the individual's ongoing employment with the Company's group.

The performance condition measures compound annual growth in the Company's adjusted earnings per share over the period from 1 September 2019 to 31 August 2022. Fuller details of the performance condition shall be set out in the Company's Directors' Remuneration Report for the year ending 31 August 2020.

Once vested, options shall remain exercisable until the tenth anniversary of the grant date.

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	Tim Carroll
2	Reason for the notification
a)	Position/status	Chief Executive Officer
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
4	Details of the transaction(s): section to be repeated  for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and  (iv) each placewhere 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	Grant of a nominal cost option under the Focusrite plc Performance Share Plan.
c)	Price(s) and volume(s)	Price(s) Volumes Nil 47,263
d)	Aggregated information - Aggregated volume  - Price	Not applicable - single transaction
e)	Date of the transaction	23 December 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the persons discharging managerial responsibilities I person closely associated
a)	Name	Jeremy Wilson
2	Reason for the notification
a)	Position/status	Chief Financial Officer
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
4	Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and  (iv) each placewhere 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	Grant of a nominal cost option under the Focusrite plc Performance Share Plan.
c)	Price(s) and volume(s)	Exercise Prices per share Volumes Nil 35,655
d)	Aggregated information - Aggregated volume  - Price	Not applicable - single transaction
e)	Date of the transaction	23 December 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the persons discharging managerial responsibilities I person closely associated
a)	Name	Damian Hawley
2	Reason for the notification
a)	Position/status	Chief Revenue Officer
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)	Legal Entity Identifier	213800JJ51KA4LOTF736
4	Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and  (iv) each placewhere 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	Grant of a nominal cost option under the Focusrite plc Performance Share Plan.
c)	Price(s) and volume(s)	Price(s) Volumes Nil 12,520
d)	Aggregated information - Aggregated volume  - Price	Not applicable - single transaction
e)	Date of the transaction	23 December 2019
f)	Place of the transaction	Outside a trading venue
1	Details of the persons discharging managerial responsibilities I person closely associated
a)	Name	Tim Dingley
2	Reason for the notification
a)	Position/status	Chief Operating Officer
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)	Legal Entity Identifier	213800JJ51KA4LOTF736
4	Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and  (iv) each placewhere 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	Grant of a nominal cost option under the Focusrite plc Performance Share Plan.
c)	Price(s) and volume(s)	Price(s) Volumes Nil 11,691
d)	Aggregated information - Aggregated volume  - Price	Not applicable - single transaction
e)	Date of the transaction	23 December 2019
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)	Legal Entity Identifier	213800JJ51KA4LOTF736
4	Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and  (iv) each placewhere 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	Grant of a nominal cost option under the Focusrite plc Performance Share Plan.
c)	Price(s) and volume(s)	Price(s) Volumes Nil 9,151
d)	Aggregated information - Aggregated volume  - Price	Not applicable - single transaction
e)	Date of the transaction	23 December 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the persons discharging managerial responsibilities I person closely associated
a)	Name	Simon Holt
2	Reason for the notification
a)	Position/status	Engineering 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)	Legal Entity Identifier	213800JJ51KA4LOTF736
4	Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and  (iv) each placewhere 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	Grant of a nominal cost option under the Focusrite plc Performance Share Plan.
c)	Price(s) and volume(s)	Price(s) Volumes Nil 9,394
d)	Aggregated information - Aggregated volume  - Price	Not applicable - single transaction
e)	Date of the transaction	23 December 2019
f)	Place of the transaction	Outside a trading venue

-ends-

Enquiries:

Focusrite plc:                                                                                                     [phone]

Tim Carroll (CEO)            

Jeremy Wilson (CFO)    

Panmure Gordon (Nominated Adviser and Broker)                                 [phone]

Freddy Crossley / Alina Vaskina

Erik Anderson

Belvedere Communications                                                                          [phone]

John West          

Llew Angus        

 

END

 

 

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