Settlement of Share Options

RNS Number : 7109I

Focusrite PLC

15 December 2020

 

Focusrite plc

("the Company" or "the Group")

 PDMR Dealings

Settlement of Share Options

Focusrite plc (AIM:TUNE), the global music and audio products company,   announces that on 1 December 2020 Damian Hawley and 2 December 2020 Simon Holt, both being a Person Discharging Managerial Responsibilities ("PDMRs"), exercised a nominal cost option over 6,960 and 4,560 Ordinary Shares respectively (totalling 11,520 Ordinary Shares)  granted to them under the Company's Performance Share Plan and acquired Ordinary Shares of 0.1p each in the Company.

The option was granted on 22 November 2017 and became vested and exercisable as from 23 November 2020.

The exercise of the options was settled in part by the transfer of a total of 6,104 Ordinary Shares and in part with a cash payment equal to market value of 5,416 Ordinary Shares to meet the PDMR's liability to income tax and employee national insurance arising on the exercise of the option.

Following the transaction, Mr. Hawley will have a beneficial holding of 172,483 Ordinary Shares which represents 0.297% of the current issued share capital and Mr. Holt will have a beneficial holding of 137,181 Ordinary Shares which represents 0.236% of the current issued share capital.

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)	N a me	Damian Hawley
2	Reason for the notification
a)	Position / st a tus	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)	LEI	213800JJ51KA4LOTF736
4A	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)	Descriptionof the fina n cial instrume nt ,  type  of ins t rument	Ordinary Shares of 0.1p each in Focusrite plc
	Identification code	GB00BSBMW716
b)	Nature of t h e transact i o n	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 vested shares number, cash in lieu of such shares).
c)	Price(s) a n d  vo l ume(s)	Price(s) Vo l umes £6.96 6,960 (settled in part by the transfer of 3,688 ordinary shares and in part with a cash payment equal to market value of 3,272 ordinary shares to meet the PDMR's liability to income tax and employee national insurance arising on the exercise of the option over 6,960 shares)
d)	Aggregated information - Aggregated volume  - Price	Not applicable - single transaction
e)	Date of the transaction	1 December 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the persons discharging managerial responsibilities  I  person closely  associated
a)	N a me	Simon Holt
2	Reason for the notification
a)	Position / st a tus	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)	LEI	213800JJ51KA4LOTF736
4A	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)	Descriptionof the fina n cial instrume nt ,  type  of ins t rument	Ordinary Shares of 0.1p each in Focusrite plc
	Identification code	GB00BSBMW716
b)	Nature of t h e transact i o n	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 vested shares number, cash in lieu of such shares).
c)	Price(s) a n d  vo l ume(s)	Price(s) Vo l umes £4.56 4,560 (settled in part by the transfer of 2,416 ordinary shares and in part with a cash payment equal to market value of 2,144 ordinary shares to meet the PDMR's liability to income tax and employee national insurance arising on the exercise of the option over 4,560 shares)
d)	Aggregated information - Aggregated volume  - Price	Not applicable - single transaction
e)	Date of the transaction	2 December 2020
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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