FOCUSRITE PLC

Director's Dealing • Dec 3, 2018

National Storage Mechanism | Additional information

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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 /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 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 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
£17.72	17,720 (of which, 8,329 were settled in cash in lieu of shares, and 9,391 were settled in shares)

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

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 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 Fiona Orford (spouse) for nil consideration

c)

Price(s) and volume(s)

Price(s)	Volumes
Nil	9,391

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

23 November 2018

f)

Place of the transaction

Outside a trading venue

-ends-

Enquiries:

Focusrite plc:
Tim Carroll (CEO)	+44 1494 462246
Jeremy Wilson (CFO)	+44 1494 462246
Panmure Gordon
Freddy Crossley	+44 20 7886 2500
Erik Anderson	+44 20 7886 2500
Belvedere Communications
John West	+44 20 3687 2753
Kim Van Beeck	+44 20 3687 2756

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