TIDMTUNE
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 GBP4.89 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) N a me Sally McKone
--------------------------- ------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position / st a tus 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
--------------------------- ------------------------------------------
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 Issue of shares ordinary shares from
i o n EBT of 0.1p each in Focusrite plc.
--------------------------- ------------------------------------------
c) Price(s) a n d vo l ume(s) Price(s) Vo l umes
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
--------------------------- ------------------------------------------
1 Details of the persons discharging managerial responsibilities
I person closely associated
a) N a me Simon Charles Holt
--------------------------- ------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position / st a tus 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) 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 Acquisition of 2,042 ordinary shares at
i o n a price of GBP4.89 per share.
--------------------------- ------------------------------------------
c) Price(s) a n d vo l ume(s) Price(s) Vo l umes
GBP4.89 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
--------------------------- ------------------------------------------
1 Details of the persons discharging managerial responsibilities
I person closely associated
a) N a me Simon Charles Holt
--------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position / st a tus 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) 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 under
i o n 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) a n d vo l ume(s) Price(s) Vo l umes
GBP9.394 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
--------------------------- --------------------------------------------
-ends-
Enquiries:
Focusrite plc:
Tim Carroll (CEO) +44 1494 462246
Sally McKone (CFO) +44 1494 462246
Investec Bank plc (Nominated Adviser and
Joint Broker)
David Flin
Ed Knight
William Brinkley +44 20 7597 5970
Peel Hunt LLP (Joint broker)
Paul Gillam
Michael Burke
James Smith +44 20 7418 8900
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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END
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