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Focusrite PLC (TUNE)

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Friday 04 December, 2020

Focusrite PLC

Settlement of Share Options

RNS Number : 6528H
Focusrite PLC
04 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 Jeremy Wilson, being a Person Discharging Managerial Responsibilities ("PDMRs"), exercised a nominal cost option over 56,064 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 option was settled in part by the transfer of 29,713 ordinary shares and in part with a cash payment equal to market value of 26,351 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. Wilson will have a beneficial holding of 122,605 Ordinary Shares which represents 0.210% 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  person closely  associated

a)

N a me

 Jeremy Wilson

2

Reason for the notification

a)

Position / st a tus

 CFO

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 thetransaction(s):  section  to be repeated for  (i)  each type of instrument; (ii) each type of transaction;  (iii)  eachdate;  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

£56.06

56,064 (settled in part by the transfer of 29,713 ordinary shares and in part with a cash payment equal to market value of 26,351 ordinary shares to meet the PDMR's liability to income tax and employee national insurance arising on the exercise of the option over 56,064 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

 

-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 2754

John West 

Llew Angus 

 

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