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Focusrite PLC (TUNE)

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Wednesday 15 January, 2020

Focusrite PLC

Settlement of Share Options

RNS Number : 9499Z
Focusrite PLC
15 January 2020
 

For immediate release

 

Focusrite plc

 

("the Company" or "the Group")

 

PDMR Dealings

Settlement 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 10 January 2020 Simon Holt, being a Person Discharging Managerial Responsibilities ("PDMRs"), exercised nominal cost options granted to him under the Company's Performance Share Plan and acquired ordinary shares of 0.1p each in the Company.

 

The options were granted on 24 November 2016 and became vested and exercisable as from 23 December 2019.

 

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

 

Immediately following exercise, Simon Holt immediately transferred the full number of shares he acquired in connection with exercise to his spouse (the 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 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)

LEI

213800JJ51KA4LOTF736

 

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

£7.12

7,104

(of which, 3,339 were settled in cash in lieu of shares, and 3,765 were settled in shares)

 

 

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

 

e)

Date of the transaction

10 January 2020

 

f)

Place of the transaction

Outside a trading venue

 

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

3,765

 

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

10 January 2020

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

-ends-

 

Enquiries:

 

Focusrite plc:                                                                                                     +44 1494 836301

 

Tim Carroll (CEO)             

Jeremy Wilson (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        

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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