Focusrite
plc
("the
Company" or "the Group")
Directors' Dealings
Grant of
Share Options to PDMRs
Focusrite plc (AIM:TUNE), the global
music and audio products company, announces that on 4
December 2024 it granted nominal cost option
awards 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 'performance share
award'
|
No. of shares under
'restricted share
award'
|
|
Tim Carroll
|
113,428
|
56,714
|
|
Sally McKone
|
80,719
|
40,359
|
The performance share awards will
ordinarily vest in April 2028 subject to the Remuneration
Committee's determination of the extent to which the performance
condition applicable to the performance share awards has been
satisfied and to the individual's ongoing employment with the
Company's group.
The performance condition for the
performance share awards is based on the Company's adjusted
earnings per share growth over the period from 1 September 2024 to
29 February 2028.
The restricted share awards will
ordinarily vest in April 2028, subject to the individual's ongoing
employment with the Company's group and the Remuneration
Committee's assessment of such awards' discretionary performance
underpin.
Fuller details of the performance
condition and underpin condition shall be set out in the Company's
Directors' Remuneration Report for the financial period ending 28
February 2026.
Once vested, options shall remain
exercisable until the tenth anniversary of the grant date (or in
the case of US taxed grantees, until 10 March following the year of
vesting).
The information set out below is
provided in accordance with the requirements of Article 19 of the
UK Market Abuse Regulation.
|
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 /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
|
|
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 instrument, type of instrument
|
Ordinary Shares of 0.1p each in Focusrite
plc
|
|
Identification code
|
GB00BSBMW716
|
|
b)
|
Nature of the transaction
|
1. Grant of a nominal cost
option 'performance share award' under the Focusrite plc
Performance Share Plan.
2. Grant of a nominal cost
option 'restricted share award' under the Focusrite plc Performance
Share Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volumes
|
|
1. £0.001
2. £0.001
|
1. 113,428
2. 56,714
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
170,142
£0.001
|
|
e)
|
Date of the transaction
|
4 December 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
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
|
|
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 instrument, type of instrument
|
Ordinary Shares of 0.1p each in Focusrite
plc
|
|
Identification code
|
GB00BSBMW716
|
|
b)
|
Nature of the transaction
|
1. Grant of a nominal cost
option 'performance share award' under the Focusrite plc
Performance Share Plan.
2. Grant of a nominal cost
option 'restricted share award' under the Focusrite plc Performance
Share Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volumes
|
|
1. £0.001
2. £0.001
|
1. 80,719
2. 40,359
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
121,078
£0.001
|
|
e)
|
Date of the transaction
|
4 December 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
-ends-
Enquiries:
|
Focusrite plc
|
+44 (0) 1494 462246
|
|
Tim Carroll (CEO) / Sally McKone
(CFO)
|
|
|
Investec Bank plc (Nominated Adviser and Joint
Broker)
|
+44 (0) 20 7597 5970
|
|
David Flin / Nick
Prowting
|
|
|
Peel Hunt LLP (Joint Broker)
|
+44 (0) 20 7418 8900
|
|
Ben Cryer / Adam Telling
|
|
|
Rosewood (Financial PR)
|
+44 (0) 20 7653
8702
|
|
John West / Llewellyn Angus / Lily
Pearce
|
|
|
|
The information
communicated in this announcement contains inside information for
the purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014.
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 Focusrite Group trades under thirteen established
brands: Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio,
Martin Audio, Optimal Audio, Linea Research Sequential, Oberheim,
Sonnox, OutBoard and TiMax.
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 offer 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 synthesizers 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
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. TiMax specialises in innovative
immersive audio and show control technologies. OutBoard
manufactures and sells industry standard rigging control products
for live events, together with enterprise-level safety test,
preparation and quality management for global rental companies and
venues.
The Company 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, London Stock Exchange.