REG - Focusrite PLC - PDMR Dealings

FocusriteAnnouncement

03/05/2023 07:00

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RNS Number : 1891Y  Focusrite PLC  03 May 2023

Focusrite plc

("the Company" or "the Group")

 

 PDMR Dealings

 

Focusrite plc (AIM:TUNE), the global music and audio products company that
trades under the Focusrite and Novation brands, announces that on 26 April
2023:

 

1.    Sally McKone, the Company's Chief Financial Officer and a Person
Discharging Managerial Responsibilities ("PDMR") was issued with the third and
final tranche of 6,132 management share awards. As set out in the Company's
announcement of 18 May 2021, such awards were made as compensation for certain
incentive arrangements which she forfeited or was otherwise not awarded on
leaving her former employer to join the Group. The shares, to be issued from
the Company's Employee Benefit Trust were determined by the Company's
Remuneration Committee and approved by the Board.

 

The Company will cash settle the resulting tax and National Insurance
elements. Accordingly, Ms McKone will be awarded a net holding of 3,249
shares. Following the award, Ms McKone will have a beneficial holding of
12,008 shares, being 0.02% of the issued ordinary share capital of the
Company.

 

2.    Simon Holt, a PDMR, (i) made a market purchase of 2,042 ordinary
shares at a price of £4.89 per share and (ii) exercised nominal cost options
over 9,394 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 23 December 2019 and became vested and exercisable
as from 24 December 2022. The exercise of the option was settled in part by
the transfer of 4,978 ordinary shares and in part with a cash payment equal to
market value of 4,416 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. Holt will have a beneficial holding of 151,076
Ordinary Shares which represents 0.25% 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                                                            Sally McKone
 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
 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                                       Issue of shares ordinary shares from EBT of 0.1p each in Focusrite plc.
 c)  Price(s) and volume(s)

Price(s)  Volumes
                                                                     Nil cost  6,132 (settled in part by the transfer of 3,249 ordinary shares and in part
                                                                          with a cash payment equal to market value of 2,883  ordinary shares to meet
                                                                          the PDMR's liability to income tax and employee national insurance arising on
                                                                          the issue of 6,132 shares)
 d)  Aggregated information                                          Not applicable - single transaction

     - Aggregated volume

     - Price
 e)  Date of the transaction                                         26 April 2023
 f)  Place of the transaction                                        Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

Not applicable - single transaction

e)

Date of the transaction

26 April 2023

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 1   Details of the persons discharging managerial responsibilities I person
     closely associated
 a)  Name                                                            Simon Charles 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)  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                                       Acquisition of 2,042 ordinary shares at a price of £4.89 per share.
 c)  Price(s) and volume(s)

Price(s)  Volumes
                                                                     £4.89     2,042
 d)  Aggregated information                                          Not applicable - single transaction

     - Aggregated volume

     - Price
 e)  Date of the transaction                                         26 April 2023
 f)  Place of the transaction                                        London Stock Exchange

d)

Aggregated information

- Aggregated volume

- Price

Not applicable - single transaction

e)

Date of the transaction

26 April 2023

f)

Place of the transaction

London Stock Exchange

 

 

 

 

 1   Details of the persons discharging managerial responsibilities I person
     closely associated
 a)  Name                                                            Simon Charles 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)  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 47.73% of the vested shares number, cash in lieu of such shares).
 c)  Price(s) and volume(s)

Price(s)  Volumes
                                                                     £9.394    9,394 (settled in part by the transfer of 4,978 ordinary shares and in part
                                                                          with a cash payment equal to market value of  4,416 ordinary shares to meet
                                                                          the PDMR's liability to income tax and employee national insurance arising on
                                                                          the exercise of the option over 9,394 shares)

 d)  Aggregated information                                          Not applicable - single transaction

     - Aggregated volume

     - Price
 e)  Date of the transaction                                         26 April 2023
 f)  Place of the transaction                                        Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

Not applicable - single transaction

e)

Date of the transaction

26 April 2023

f)

Place of the transaction

Outside a trading venue

 

 

-ends-

Enquiries:

 Focusrite plc:
 Tim Carroll (CEO)                                       +44 1494 462246
 Sally McKone (CFO)                                      +44 1494 462246

 Investec Bank plc (Nominated Adviser and Joint Broker)  +44 20 7597 5970

 David Flin

 Ed Knight

 William Brinkley
 Peel Hunt LLP (Joint broker)                             +44 20 7418 8900

 Paul Gillam

 Michael Burke

 James Smith
 Belvedere Communications                                  +44 20 3008 6864
 John West
 Llew Angus

 

Notes to Editors

Focusrite plc is a global audio products group that develops and markets
proprietary hardware and software products. Used by audio professionals and
musicians, its solutions facilitate the high-quality production of recorded
and live sound. The Group trades under eleven established brands: Focusrite,
Focusrite Pro, Novation, Ampify, ADAM Audio, Martin Audio, Optimal Audio,
Linea Research, Sequential, Oberheim and Sonnox.

With a high-quality reputation and a rich heritage spanning decades, its
brands are category leaders in the music-making and audio recording
industries. Focusrite and Focusrite Pro design and manufacture audio
interfaces and other products for recording musicians, producers and
professional audio facilities. Novation and Ampify products are used in the
creation of electronic music, from synthesisers and grooveboxes to
industry-shaping controllers and inspirational music-making apps. ADAM Audio
studio monitors have earned a worldwide reputation based on technological
innovation in the field of studio loudspeaker technology.  Martin Audio
designs and manufactures performance-ready systems across the spectrum of
sound reinforcement applications. Linea Research designs, develops,
manufactures and sells market innovative professional audio equipment
globally. Sequential designs and manufactures high end analogue synthesizers
under the Sequential and Oberheim brands.  Sonnox is a leading designer of
innovative, high quality, award-winning audio processing software plug-ins for
professional audio engineers.

The Group has offices in four continents and a global customer base with a
distribution network covering approximately 240 territories.

Focusrite plc is traded on the AIM market of the London Stock Exchange.

 

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