Focusrite PLC Settlement of Share Options (9499Z)

TIDMTUNE

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 
        I person closely associated 
 a)   Name                               Simon Holt 
     ---------------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------------- 
 a)   Position/status                    Engineering 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 
     ---------------------------------  ------------------------------------------ 
 4    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 
                                               GBP7.12   7,104 
                                                          (of which, 
                                                          3,339 were 
                                                          settled in 
                                                          cash in lieu 
                                                          of shares, 
                                                          and 3,765 were 
                                                          settled in 
                                                          shares) 
     ---------------------------------  ------------------------------------------ 
 d)    Aggregated information            Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ---------------------------------  ------------------------------------------ 
 e)   Date of the transaction            10 January 2020 
     ---------------------------------  ------------------------------------------ 
 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 Lisa Hawley 
                                          (spouse) for nil consideration 
     ---------------------------------  -------------------------------------------- 
 c)   Price(s) and volume(s)               Price(s)    Volumes 
                                               Nil      3,765 
                                                       -------- 
     ---------------------------------  -------------------------------------------- 
 d)    Aggregated information            Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ---------------------------------  -------------------------------------------- 
 e)   Date of the transaction            10 January 2020 
     ---------------------------------  -------------------------------------------- 
 f)   Place of the transaction           Outside a trading venue 
     ---------------------------------  -------------------------------------------- 
 

-ends-

Enquiries:

Focusrite plc: [phone]

Tim Carroll (CEO)

Jeremy Wilson (CFO)

   Panmure Gordon (Nominated Adviser and Broker)                                 [phone] 

Freddy Crossley / Alina Vaskina

Erik Anderson

Belvedere Communications [phone]

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 [e-mail] or visit www.rns.com.

END

DSHBAMRTMTIBBAM

(END) Dow Jones Newswires

January 15, 2020 12:49 ET (17:49 GMT)