Focusrite PLC Director's Dealings (3533X)

TIDMTUNE

RNS Number : 3533X

Focusrite PLC

23 November 2017

Focusrite Plc

("the Company" or "the Group")

Directors' Dealings

Grant of Share Options to Directors

Focusrite Plc (AIM:TUNE), the global music and audio products company that trades under the Focusrite and Novation brands, announces that on 22 November 2017 it issued 126,240 options under the Company's Performance Share Plan to Tim Carroll, CEO of the Company and Jeremy Wilson, CFO of the Company as listed below. The awards have a vesting date of 22 November 2020.

 
 Director          Options 
                   granted 
 Tim Carroll        70,176 
 Jeremy Wilson      56,064 
 

The performance measurement period is from 1 September 2017 to 31 August 2020 and the awards will vest subject to the rules of the Focusrite Plc Performance Share Plan and the Remuneration Committee's determination of the extent to which the performance conditions applicable to the award have been satisfied. Full details of these performance conditions are set out in the Company's Directors' Remuneration Report for the year ending 31 August 2017. Vested awards are exercisable until the tenth anniversary of the grant date, subject to the individual's ongoing employment.

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)   Name                                    1. Tim Carroll 
                                               3. Jeremy Wilson 
---  ---------------------------------  ----------------------------------------------------------- 
 2    Reason for the notification 
---  ---------------------------------------------------------------------------------------------- 
 a)   Position/status                    Directors of the Company 
---  ---------------------------------  ----------------------------------------------------------- 
 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 
---  ---------------------------------  ----------------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type ofinstrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each placewhere transactions 
       have been conducted 
---  ---------------------------------------------------------------------------------------------- 
 a)    Description of the financial      Option over Ordinary Shares of 0.1p each 
        instrument, type of instrument 
---  ---------------------------------  ----------------------------------------------------------- 
     Identification code                 GB00BSBMW716 
---  ---------------------------------  ----------------------------------------------------------- 
 b)   Nature of the transaction          Grant of options pursuant to the Focusrite Plc Performance 
                                          Share Plan 
---  ---------------------------------  ----------------------------------------------------------- 
 c)   Price(s) and volume(s)               Exercise        Volumes 
                                             Prices per 
                                             share 
                                           --------------  ---------------- 
                                                 1. 0.1p         1. 70,176 
                                                  2. 0.1p         2. 56,064 
                                           --------------  ---------------- 
---  ---------------------------------  ----------------------------------------------------------- 
 d)    Aggregated information            Weighted average exercise price: 0.1p per share 
        - Aggregated volume               Aggregated volume: 126,240 
        - Price 
---  ---------------------------------  ----------------------------------------------------------- 
 e)   Date of the transaction            22 November 2017 
---  ---------------------------------  ----------------------------------------------------------- 
 f)   Place of the transaction           Outside a trading venue 
---  ---------------------------------  ----------------------------------------------------------- 
 

-ends-

Enquiries:

 
 Focusrite Plc: 
 Phil Dudderidge (Executive 
  Chairman)                    [phone] 
 Jeremy Wilson (CFO)           [phone] 
 
 Panmure Gordon 
 Freddy Crossley               [phone] 
 Tom Salvesen                  [phone] 
 
 Belvedere Communications 
 John West                     [phone] 
 Kim van Beeck                 [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 23, 2017 05:21 ET (10:21 GMT)