TIDMTUNE

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               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 ofinstrument; (ii) each type of transaction; 
       (iii) each date; and 
       (iv) each placewhere 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          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            Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ---------------------------------  ------------------------------------------ 
 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               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 ofinstrument; (ii) each type of transaction; 
       (iii) each date; and 
       (iv) each placewhere 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          Grant of a nominal cost option under 
                                          the Focusrite plc Performance Share 
                                          Plan. 
     ---------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)               Exercise Prices    Volumes 
                                             per share 
                                                 Nil                35,655 
                                                              ------------ 
     ---------------------------------  ------------------------------------------ 
 d)    Aggregated information            Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ---------------------------------  ------------------------------------------ 
 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            Initial notification 
       /Amendment 
     ------------------------------  ------------------------------------------ 
 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   Ordinary Shares of 0.1p each in Focusrite 
        instrument, type of            plc 
        instrument 
     ------------------------------  ------------------------------------------ 
     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         Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ------------------------------  ------------------------------------------ 
 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            Initial notification 
       /Amendment 
     ------------------------------  ------------------------------------------ 
 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   Ordinary Shares of 0.1p each in Focusrite 
        instrument, type of            plc 
        instrument 
     ------------------------------  ------------------------------------------ 
     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         Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ------------------------------  ------------------------------------------ 
 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            Initial notification 
       /Amendment 
     ------------------------------  ------------------------------------------ 
 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   Ordinary Shares of 0.1p each in Focusrite 
        instrument, type of            plc 
        instrument 
     ------------------------------  ------------------------------------------ 
     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         Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ------------------------------  ------------------------------------------ 
 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            Initial notification 
       /Amendment 
     ------------------------------  ------------------------------------------ 
 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   Ordinary Shares of 0.1p each in Focusrite 
        instrument, type of            plc 
        instrument 
     ------------------------------  ------------------------------------------ 
     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         Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ------------------------------  ------------------------------------------ 
 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

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END

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January 03, 2020 09:47 ET (14:47 GMT)

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