Settlement of Share Options

RNS Number : 7089J

Focusrite PLC

23 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 21 December 2020 Tim Dingley, a Person Discharging Managerial Responsibilities ("PDMRs"), exercised a nominal cost option over 6,480 Ordinary Shares granted to him 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 3,434 Ordinary Shares and in part with a cash payment equal to market value of 3,046 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. Dingley will have a beneficial holding of 238,035 Ordinary Shares which represents 0.41% 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	Tim Dingely
2	Reason for the notification
a)	Position / st a tus	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)	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 £6.48 6,480 (settled in part by the transfer of 3,434 ordinary shares and in part with a cash payment equal to market value of 3,046 ordinary shares to meet the PDMR's liability to income tax and employee national insurance arising on the exercise of the option over 6,480 shares)
d)	Aggregated information - Aggregated volume  - Price	Not applicable - single transaction
e)	Date of the transaction	21 December 2020
f)	Place of the transaction	Outside a trading venue
4B	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	Transfer of shares to Janice Dingely (spouse) for nil consideration
c)	Price(s) a n d  vo l ume(s)	Price(s) Vo l umes Nil 3,434
d)	Aggregated information - Aggregated volume  - Price	Not applicable - single transaction
e)	Date of the transaction	21 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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