FOCUSRITE PLC

Director's Dealing • Jan 3, 2020

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 7391Y

Focusrite PLC

03 January 2020

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 23 December 2019 it granted nominal cost options over ordinary shares of 0.1p each in the capital of the Company under the Company's Performance Share Plan to certain 'persons discharging managerial responsibilities' of the Company ("PDMRs") as listed below.  

PDMR	No. of shares under option
Tim Carroll	47,263
Jeremy Wilson	35,655
Damian Hawley	12,520
Tim Dingley	11,691
Giles Orford	9,151
Simon Holt	9,394

The options will ordinarily vest on the third anniversary of the grant date, subject to the Remuneration Committee's determination of the extent to which the performance condition applicable to the award has been satisfied and to the individual's ongoing employment with the Company's group.

The performance condition measures compound annual growth in the Company's adjusted earnings per share over the period from 1 September 2019 to 31 August 2022. Fuller details of the performance condition shall be set out in the Company's Directors' Remuneration Report for the year ending 31 August 2020.

Once vested, options shall remain exercisable until the tenth anniversary of the grant date.

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

Tim Carroll

2

Reason for the notification

a)

Position/status

Chief Executive Officer

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 instrument, type of instrument

Ordinary Shares of 0.1p each in Focusrite plc

Identification code

GB00BSBMW716

b)

Nature of the transaction

Grant of a nominal cost option under the Focusrite plc Performance Share Plan.

c)

Price(s) and volume(s)

Price(s)	Volumes
Nil	47,263

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

23 December 2019

f)

Place of the transaction

Outside a trading venue

1

Details of the persons discharging managerial responsibilities I person closely associated

a)

Name

Jeremy Wilson

2

Reason for the notification

a)

Position/status

Chief Financial Officer

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 instrument, type of instrument

Ordinary Shares of 0.1p each in Focusrite plc

Identification code

GB00BSBMW716

b)

Nature of the transaction

Grant of a nominal cost option under the Focusrite plc Performance Share Plan.

c)

Price(s) and volume(s)

Exercise Prices per share	Volumes
Nil	35,655

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

23 December 2019

f)

Place of the transaction

Outside a trading venue

1

Details of the persons discharging managerial responsibilities I person closely associated

a)

Name

Damian Hawley

2

Reason for the notification

a)

Position/status

Chief Revenue Officer

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)

Legal Entity Identifier

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 instrument, type of instrument

Ordinary Shares of 0.1p each in Focusrite plc

Identification code

GB00BSBMW716

b)

Nature of the transaction

Grant of a nominal cost option under the Focusrite plc

Performance Share Plan.

c)

Price(s) and volume(s)

Price(s)	Volumes
Nil	12,520

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

23 December 2019

f)

Place of the transaction

Outside a trading venue

1

Details of the persons discharging managerial responsibilities I person closely associated

a)

Name

Tim Dingley

2

Reason for the notification

a)

Position/status

Chief Operating Officer

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)

Legal Entity Identifier

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 instrument, type of instrument

Ordinary Shares of 0.1p each in Focusrite plc

Identification code

GB00BSBMW716

b)

Nature of the transaction

Grant of a nominal cost option under the Focusrite plc Performance Share Plan.

c)

Price(s) and volume(s)

Price(s)	Volumes
Nil	11,691

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

23 December 2019

f)

Place of the transaction

Outside a trading venue

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)

Legal Entity Identifier

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 instrument, type of instrument

Ordinary Shares of 0.1p each in Focusrite plc

Identification code

GB00BSBMW716

b)

Nature of the transaction

Grant of a nominal cost option under the Focusrite plc Performance Share Plan.

c)

Price(s) and volume(s)

Price(s)	Volumes
Nil	9,151

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

23 December 2019

f)

Place of the transaction

Outside a trading venue

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 /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Focusrite plc

b)

Legal Entity Identifier

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 instrument, type of instrument

Ordinary Shares of 0.1p each in Focusrite plc

Identification code

GB00BSBMW716

b)

Nature of the transaction

Grant of a nominal cost option under the Focusrite plc Performance Share Plan.

c)

Price(s) and volume(s)

Price(s)	Volumes
Nil	9,394

d)

Aggregated information

- Aggregated volume 

- Price 

Not applicable - single transaction

e)

Date of the transaction

23 December 2019

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 2756

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 rns@lseg.com or visit www.rns.com.

END

DSHUPUQWGUPUGCW