Focusrite PLC Exercise of Share Options by a PDMR (2758J)

TIDMTUNE

RNS Number : 2758J

Focusrite PLC

03 December 2018

Focusrite plc

("the Company" or "the Group")

Directors' Dealings

Exercise of Share Options by a PDMR

Focusrite plc (AIM:TUNE), the global music and audio products company that trades under the Focusrite and Novation brands, announces that on 23 November 2018 Giles Orford, a Person Discharging Managerial Responsibilities ("PDMR"), exercised a nominal cost option award granted to him under the Company's Performance Share Plan and acquired ordinary shares of 0.1p each in the Company.

The award was granted on 4 June 2015 and vested on 21 November 2017. The number of shares in respect of which the award could be exercised was determined by reference to the extent to which a performance condition measuring growth in the Company's Adjusted Profit was met.

The exercised award was 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 their award. The shares acquired by the PDMR represents the balance of their award.

Immediately following exercise, the PDMR immediately transferred the full number of shares they acquired in connection with exercise to their 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 
        I person closely associated 
 a)   Name                               Giles Orford 
     ---------------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------------- 
 a)   Position/status                    Brand Director 
     ---------------------------------  ------------------------------------------ 
 b)   Initial notification               Initial notification 
       /Amendment 
     ---------------------------------  ------------------------------------------ 
 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 financial      Ordinary Shares of 0.1p each in Focusrite 
        instrument, type of instrument    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 
                                               GBP17.72   17,720 
                                                           (of which, 
                                                           8,329 were 
                                                           settled in 
                                                           cash in lieu 
                                                           of shares, 
                                                           and 9,391 were 
                                                           settled in 
                                                           shares) 
     ---------------------------------  ------------------------------------------ 
 d)    Aggregated information            Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ---------------------------------  ------------------------------------------ 
 e)   Date of the transaction            23 November 2018 
     ---------------------------------  ------------------------------------------ 
 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)    Description of the financial      Ordinary Shares of 0.1p each in Focusrite 
        instrument, type of instrument    plc 
     ---------------------------------  ------------------------------------------ 
     Identification code                  GB00BSBMW716 
     ---------------------------------  ------------------------------------------ 
 b)   Nature of the transaction          Transfer of shares to Fiona Orford 
                                          (spouse) for nil consideration 
     ---------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)               Price(s)    Volumes 
                                               Nil      9,391 
                                                       -------- 
     ---------------------------------  ------------------------------------------ 
 d)    Aggregated information            Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ---------------------------------  ------------------------------------------ 
 e)   Date of the transaction            23 November 2018 
     ---------------------------------  ------------------------------------------ 
 f)   Place of the transaction           Outside a trading venue 
     ---------------------------------  ------------------------------------------ 
 

-ends-

Enquiries:

 
 Focusrite plc: 
 Tim Carroll (CEO)           [phone] 
 Jeremy Wilson (CFO)         [phone] 
 
 Panmure Gordon 
 Freddy Crossley             [phone] 
 Erik Anderson               [phone] 
 
 Belvedere Communications 
 John West                   [phone] 
 Kim Van Beeck               [phone] 
 

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December 03, 2018 10:12 ET (15:12 GMT)