REG - Focusrite PLC - Settlement of Share Options
RNS Number : 7089JFocusrite PLC23 December 2020Focusrite 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 21 December 2020 Tim Dingley, a Person Discharging Managerial Responsibilities ("PDMRs"), exercised a nominal cost option over 6,480 Ordinary 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 options was settled in part by the transfer of a total of 3,434 Ordinary Shares and in part with a cash payment equal to market value of 3,046 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. Dingley will have a beneficial holding of 238,035 Ordinary Shares which represents 0.41% 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)
Name
Tim Dingely
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)
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 vested shares number, cash in lieu of such shares).
c)
Price(s) and volume(s)
Price(s)
Volumes
£6.48
6,480 (settled in part by the transfer of 3,434 ordinary shares and in part with a cash payment equal to market value of 3,046 ordinary shares to meet the PDMR's liability to income tax and employee national insurance arising on the exercise of the option over 6,480 shares)
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
21 December 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 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 Janice Dingely (spouse) for nil consideration
c)
Price(s) and volume(s)
Price(s)
Volumes
Nil
3,434
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
21 December 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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