Last checked at 16 Jan 2023 11:43
Focusrite plc
("the Company" or "the Group")
PDMR Dealings
Settlement of Share Options
Focusrite plc (AIM:TUNE), the global music and audio products company that trades under the Focusrite and Novation brands, announces that on 12 January 2023 Tim Carroll, a Person Discharging Managerial Responsibilities ("PDMR"), exercised nominal cost options over 47,263 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 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 25,049 ordinary shares and in part with a cash payment equal to market value of 22,214 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. Carroll will have a beneficial holding of 129,932 Ordinary Shares which represents 0.219% 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 | Tim Carroll | ||||
2 | Reason for the notification | |||||
a) | Position/status | CEO | ||||
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) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 12 January 2023 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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Enquiries: Focusrite plc | |
Tim Carroll (CEO) | +44 1494 462246 |
Sally McKone (CFO) | +44 1494 462246 |
Investec Bank plc (Nominated Adviser and Joint Broker) | +44 (0) 20 7597 5970 |
David Flin / William Brinkley / Charlotte Young | |
Peel Hunt LLP (Joint Broker) | +44 (0) 20 7418 8900 |
Paul Gillam / Michael Burke / James Smith | |
Belvedere Communications (Financial PR) | +44 (0)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.