TIDMTUNE

RNS Number : 1739H

Focusrite PLC

01 December 2020

Focusrite plc

("the Company" or "the Group")

PDMR Dealings

Settlement of Share Options

Focusrite plc (AIM:TUNE), the global music and audio products company, announces that on 25 November 2020 Tim Carroll, being a Person Discharging Managerial Responsibilities ("PDMRs"), exercised a nominal cost option over 70,176 shares granted to him under the Company's Performance Share Plan and acquired ordinary shares of 0.1p each in the Company.

The option was granted on 22 November 2017 and became vested and exercisable as from 23 November 2020.

The exercise of the option was settled in part by the transfer of 37,193 ordinary shares and in part with a cash payment equal to market value of 32,983 ordinary shares to meet the PDMR's liability to income tax and employee national insurance arising on the exercise of the option.

Following the transaction, Mr Carroll will have a beneficial holding of 62,384 Ordinary Shares which represents 0.107% of the current issued share capital.

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)   N a me                       Tim Carroll 
     ---------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position / st a tus          CEO 
     ---------------------------  ------------------------------------------ 
 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 fina     Ordinary Shares of 0.1p each in Focusrite 
        n cial instrume nt ,        plc 
        type of ins t rument 
     ---------------------------  ------------------------------------------ 
     Identification code           GB00BSBMW716 
     ---------------------------  ------------------------------------------ 
 b)   Nature of t h e transact     Exercise of a nominal cost option 
       i o n                        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 vested shares 
                                    number, cash in lieu of such shares). 
     ---------------------------  ------------------------------------------ 
 c)   Price(s) a n d vo l ume(s)     Price(s)      Vo l umes 
                                         GBP70.18   70,176 (settled 
                                                     in part by 
                                                     the transfer 
                                                     of 37,193 ordinary 
                                                     shares and 
                                                     in part with 
                                                     a cash payment 
                                                     equal to market 
                                                     value of 32,983 
                                                     ordinary shares 
                                                     to meet the 
                                                     PDMR's liability 
                                                     to income tax 
                                                     and employee 
                                                     national insurance 
                                                     arising on 
                                                     the exercise 
                                                     of the option 
                                                     over 70,176 
                                                     shares) 
     ---------------------------  ------------------------------------------ 
 d)    Aggregated information      Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ---------------------------  ------------------------------------------ 
 e)   Date of the transaction      25 November 2020 
     ---------------------------  ------------------------------------------ 
 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 2754

John West

Llew Angus

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END

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December 01, 2020 10:47 ET (15:47 GMT)

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