REG - Focusrite PLC - Settlement of Share Options

FocusriteAnnouncement

15/12/2020 10:55

RNS Number : 7109I
  
Focusrite PLC
  
15 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 1 December 2020 Damian Hawley and 2 December 2020 Simon Holt, both being a Person Discharging Managerial Responsibilities ("PDMRs"), exercised a nominal cost option over 6,960 and 4,560 Ordinary Shares respectively (totalling 11,520 Ordinary Shares)  granted to them 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 6,104 Ordinary Shares and in part with a cash payment equal to market value of 5,416 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. Hawley will have a beneficial holding of 172,483 Ordinary Shares which represents 0.297% of the current issued share capital and Mr. Holt will have a beneficial holding of 137,181 Ordinary Shares which represents 0.236% 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


 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)


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




£6.96


6,960 (settled in part by the transfer of 3,688 ordinary shares and in part with a cash payment equal to market value of 3,272 ordinary shares to meet the PDMR's liability to income tax and employee national insurance arising on the exercise of the option over 6,960 shares)
 




 




d)


Aggregated information
- Aggregated volume 
- Price 


Not applicable - single transaction




e)


Date of the transaction


1 December 2020




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)


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




£4.56


4,560 (settled in part by the transfer of 2,416 ordinary shares and in part with a cash payment equal to market value of 2,144 ordinary shares to meet the PDMR's liability to income tax and employee national insurance arising on the exercise of the option over 4,560 shares)
 




 




d)


Aggregated information
- Aggregated volume 
- Price 


Not applicable - single transaction




e)


Date of the transaction


2 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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