Focusrite PLC Exercise of Share Options by a PDMR (2758J)
December 03 2018 - 10:12AM
UK Regulatory
TIDMTUNE
RNS Number : 2758J
Focusrite PLC
03 December 2018
Focusrite plc
("the Company" or "the Group")
Directors' Dealings
Exercise of Share Options by a PDMR
Focusrite plc (AIM:TUNE), the global music and audio products
company that trades under the Focusrite and Novation brands,
announces that on 23 November 2018 Giles Orford, a Person
Discharging Managerial Responsibilities ("PDMR"), exercised a
nominal cost option award granted to him under the Company's
Performance Share Plan and acquired ordinary shares of 0.1p each in
the Company.
The award was granted on 4 June 2015 and vested on 21 November
2017. The number of shares in respect of which the award could be
exercised was determined by reference to the extent to which a
performance condition measuring growth in the Company's Adjusted
Profit was met.
The exercised award was settled in cash to the extent needed to
cover the PDMR's liability to income tax and employee national
insurance arising on the exercise of their award. The shares
acquired by the PDMR represents the balance of their award.
Immediately following exercise, the PDMR immediately transferred
the full number of shares they acquired in connection with exercise
to their spouse (being a person closely associated with the
relevant PDMR) for nil consideration.
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 Giles Orford
--------------------------------- ------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------
a) Position/status Brand 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 financial Ordinary Shares of 0.1p each in Focusrite
instrument, type of instrument 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 acquired shares,
cash in lieu of such shares).
--------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volumes
GBP17.72 17,720
(of which,
8,329 were
settled in
cash in lieu
of shares,
and 9,391 were
settled in
shares)
--------------------------------- ------------------------------------------
d) Aggregated information Not applicable - single transaction
- Aggregated volume
- Price
--------------------------------- ------------------------------------------
e) Date of the transaction 23 November 2018
--------------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------------
4B 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 Ordinary Shares of 0.1p each in Focusrite
instrument, type of instrument plc
--------------------------------- ------------------------------------------
Identification code GB00BSBMW716
--------------------------------- ------------------------------------------
b) Nature of the transaction Transfer of shares to Fiona Orford
(spouse) for nil consideration
--------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volumes
Nil 9,391
--------
--------------------------------- ------------------------------------------
d) Aggregated information Not applicable - single transaction
- Aggregated volume
- Price
--------------------------------- ------------------------------------------
e) Date of the transaction 23 November 2018
--------------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------------
-ends-
Enquiries:
Focusrite plc:
Tim Carroll (CEO) +44 1494 462246
Jeremy Wilson (CFO) +44 1494 462246
Panmure Gordon
Freddy Crossley +44 20 7886 2500
Erik Anderson +44 20 7886 2500
Belvedere Communications
John West +44 20 3687 2753
Kim Van Beeck +44 20 3687 2756
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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