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Focusrite PLC (TUNE)

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Tuesday 18 May, 2021

Focusrite PLC

Issue of Management Shares

RNS Number : 9103Y
Focusrite PLC
18 May 2021
 

Strictly embargoed until 07:00 on 18 May 2021

Focusrite plc

( " the Company" or " the Group")

Issue of Management Shares

Focusrite plc (AIM: TUNE), the global music and audio products company supplying hardware and software used by professional and amateur musicians and the entertainment industry, is pleased to announce the issue of 13,337 management share awards to the Company's recently appointed Chief Financial Officer, Sally McKone.

The shares, to be issued from the Company's Employee Benefit Trust were determined by the Company's Remuneration Committee and approved by the Board.

The shares will vest in three tranches; the first tranche of 3,176 shares vested in March 2021, the second tranche of 4,029 shares will vest in March 2022 and the third tranche of 6,132 shares will vest in March 2023. 

Following the announcement of the Company's interim results, on 13 May 2021 the Company has awarded the first tranche on 17 May 2021 which comprises 3,176 shares.  After the Company cash settled the resulting tax and deducted the National Insurance element, Sally McKone will be awarded a net holding of shares in the first tranche resulting in total beneficial holding of 1,683 being 0.003% of the issued ordinary share capital of the Company.

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  person closely  associated

a)

N a me

Sally McKone

2

Reason   for   the   notification

a)

Position / s t a tus

 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

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)

Description of the fin a n cial instrum e n t ,   type  of in s t rument

Ordinary Shares of 0.1p each in Focusrite plc

Identification   code

GB00BSBMW716

b)

Nature   of   t h e   transac t i o n

Issue of shares ordinary shares from EBT of 0.1p each in Focusrite plc.

c)

Price(s)   a n d   v o l ume(s)

 

Price(s)

V o l umes

Nil cost

3,176 ( settled in part by the transfer of 1,683 ordinary shares and in part with a cash payment equal to market value of 1,493 ordinary shares to meet the PDMR's liability to income tax and employee national insurance arising on the issue of 3,176 shares )

 

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

17 May 2021

f)

Place of the transaction

Outside a trading venue

 

 

-ends-

Enquiries:

Focusrite plc:          +44 1494 836301

Tim Carroll (CEO)

Sally McKone (CFO) 

 

Panmure Gordon (Nominated Adviser and Broker)  +44 20 7886 2500

Freddy Crossley / Alina Vaskina

Erik Anderson

 

Belvedere Communications                        +44 20 3687 2756

John West

Llew Angus 

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

 

 

Notes to Editors

Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by recording professionals and musicians alike, its solutions facilitate the high-quality production of recorded and live sound. The Focusrite Group trades under six established brands: Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio and Martin Audio.

With a high-quality reputation and a rich heritage spanning decades, its brands are category leaders in the music-making and audio recording industries. Focusrite and Focusrite Pro offer audio interfaces and other products for recording musicians, producers and professional audio facilities. Novation and Ampify products are used in the creation of electronic music, from synthesisers and grooveboxes to industry-shaping controllers and inspirational music-making apps.  ADAM Audio studio monitors have earned a worldwide reputation based on technological innovation in the field of studio loudspeaker technology.  Martin Audio designs and manufactures performance-ready systems across the spectrum of sound reinforcement applications. Sequential designs and manufacturers high end analogue synthesizers.

The Focusrite Group has offices in four continents and a global customer base with a distribution network covering approximately 160 territories.

Focusrite plc is traded on the AIM market, London Stock Exchange.

 

 

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