Last checked at 3 Jan 2020 14:47
Focusrite plc
("the Company" or "the Group")
Directors' Dealings
Grant of Share Options to Directors
Focusrite plc (AIM:TUNE), the global music and audio products company that trades under the Focusrite and Novation brands, announces that on 23 December 2019 it granted nominal cost options 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 option |
Tim Carroll | 47,263 |
Jeremy Wilson | 35,655 |
Damian Hawley | 12,520 |
Tim Dingley | 11,691 |
Giles Orford | 9,151 |
Simon Holt | 9,394 |
The options will ordinarily vest on the third anniversary of the grant date, subject to the Remuneration Committee's determination of the extent to which the performance condition applicable to the award has been satisfied and to the individual's ongoing employment with the Company's group.
The performance condition measures compound annual growth in the Company's adjusted earnings per share over the period from 1 September 2019 to 31 August 2022. Fuller details of the performance condition shall be set out in the Company's Directors' Remuneration Report for the year ending 31 August 2020.
Once vested, options shall remain exercisable until the tenth anniversary of the grant date.
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 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 | Grant of a nominal cost option under the Focusrite plc Performance Share Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 23 December 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the persons discharging managerial responsibilities I person closely associated | |||||
a) | Name | Jeremy Wilson | ||||
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 | Grant of a nominal cost option under the Focusrite plc Performance Share Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 23 December 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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) | Legal Entity Identifier | 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 | Grant of a nominal cost option under the Focusrite plcPerformance Share Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 23 December 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the persons discharging managerial responsibilities I person closely associated | |||||
a) | Name | Tim Dingley | ||||
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) | Legal Entity Identifier | 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 | Grant of a nominal cost option under the Focusrite plc Performance Share Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 23 December 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the persons discharging managerial responsibilities I person closely associated | |||||
a) | Name | Giles Orford | ||||
2 | Reason for the notification | |||||
a) | Position/status | Brand 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) | Legal Entity Identifier | 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 | Grant of a nominal cost option under the Focusrite plc Performance Share Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 23 December 2019 | ||||
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) | Legal Entity Identifier | 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 | Grant of a nominal cost option under the Focusrite plc Performance Share Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 23 December 2019 | ||||
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 2756
John West
Llew Angus