TIDMTUNE

RNS Number : 0237T

Focusrite PLC

19 November 2021

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 17 November 2021 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                   18,247 
                       -------------------- 
 Sally McKone                  14,311 
                       -------------------- 
 Damian Hawley                 4,923 
                       -------------------- 
 Tim Dingley                   4,923 
                       -------------------- 
 Simon Holt                    4,307 
                       -------------------- 
 Greg Westall                  5,021 
                       -------------------- 
 Christian Hellinger           4,996 
                       -------------------- 
 Dom Harter                    5,046 
                       -------------------- 
 David Gibbons                 5,396 
                       -------------------- 
 

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 2021 to 31 August 2024. Fuller details of the performance condition shall be set out in the Company's Directors' Remuneration Report for the year ending 31 August 2022.

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)   N a me                       Tim Carroll 
     ---------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position / st a tus          Chief Executive 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 
     ---------------------------  ------------------------------------------ 
 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 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     Grant of a nominal cost option under the 
       i o n                        Focusrite plc Performance Share Plan. 
     ---------------------------  ------------------------------------------ 
 c)   Price(s) a n d vo l ume(s)     Price(s)    Vo l umes 
                                           Nil         18,247 
                                                 ------------ 
     ---------------------------  ------------------------------------------ 
 d)    Aggregated information      Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ---------------------------  ------------------------------------------ 
 e)   Date of the transaction      17 November 2021 
     ---------------------------  ------------------------------------------ 
 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                       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 
     ---------------------------  ------------------------------------------ 
 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 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     Grant of a nominal cost option under 
       i o n                        the Focusrite plc Performance Share 
                                    Plan. 
     ---------------------------  ------------------------------------------ 
 c)   Price(s) a n d vo l ume(s)     Price(s)    Vo l umes 
                                           Nil         14,311 
                                                 ------------ 
     ---------------------------  ------------------------------------------ 
 d)    Aggregated information      Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ---------------------------  ------------------------------------------ 
 e)   Date of the transaction      17 November 2021 
     ---------------------------  ------------------------------------------ 
 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                       Damian Hawley 
     ---------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position / st a tus          Chief Revenue 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)   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 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     Grant of a nominal cost option under 
       i o n                        the Focusrite plc Performance Share 
                                    Plan. 
     ---------------------------  ------------------------------------------ 
 c)   Price(s) a n d vo l ume(s)     Price(s)    Vo l umes 
                                           Nil         4,923 
                                                 ----------- 
     ---------------------------  ------------------------------------------ 
 d)    Aggregated information      Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ---------------------------  ------------------------------------------ 
 e)   Date of the transaction      17 November 2021 
     ---------------------------  ------------------------------------------ 
 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                       Tim Dingley 
     ---------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position / st a tus          Chief Operating 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)   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 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     Grant of a nominal cost option under 
       i o n                        the Focusrite plc Performance Share 
                                    Plan. 
     ---------------------------  ------------------------------------------ 
 c)   Price(s) a n d vo l ume(s)     Price(s)    Vo l umes 
                                           Nil         4,923 
                                                 ----------- 
     ---------------------------  ------------------------------------------ 
 d)    Aggregated information      Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     ---------------------------  ------------------------------------------ 
 e)   Date of the transaction      17 November 2021 
     ---------------------------  ------------------------------------------ 
 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 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)   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 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   Grant of a nominal cost option under 
       i o n                      the Focusrite plc Performance Share 
                                  Plan. 
     -------------------------  ------------------------------------------ 
 c)   Price(s) a n d vo l          Price(s)    Vo l umes 
       ume(s)                            Nil         4,307 
                                               ----------- 
     -------------------------  ------------------------------------------ 
 d)    Aggregated information    Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     -------------------------  ------------------------------------------ 
 e)   Date of the transaction    17 November 2021 
     -------------------------  ------------------------------------------ 
 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                     Greg Westall 
     -------------------------  ------------------------------------------ 
 2    Reason for the notification 
     --------------------------------------------------------------------- 
 a)   Position / st a tus        Director of Product 
     -------------------------  ------------------------------------------ 
 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)   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 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   Grant of a nominal cost option under 
       i o n                      the Focusrite plc Performance Share 
                                  Plan. 
     -------------------------  ------------------------------------------ 
 c)   Price(s) a n d vo l          Price(s)    Vo l umes 
       ume(s)                            Nil         5,021 
                                               ----------- 
     -------------------------  ------------------------------------------ 
 d)    Aggregated information    Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     -------------------------  ------------------------------------------ 
 e)   Date of the transaction    17 November 2021 
     -------------------------  ------------------------------------------ 
 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                     Christian Hellinger 
     -------------------------  ------------------------------------------ 
 2    Reason for the notification 
     --------------------------------------------------------------------- 
 a)   Position / st a tus        ADAM Audio CEO 
     -------------------------  ------------------------------------------ 
 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)   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 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   Grant of a nominal cost option under 
       i o n                      the Focusrite plc Performance Share 
                                  Plan. 
     -------------------------  ------------------------------------------ 
 c)   Price(s) a n d vo l          Price(s)    Vo l umes 
       ume(s)                            Nil         4,996 
                                               ----------- 
     -------------------------  ------------------------------------------ 
 d)    Aggregated information    Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     -------------------------  ------------------------------------------ 
 e)   Date of the transaction    17 November 2021 
     -------------------------  ------------------------------------------ 
 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                     Dom Harter 
     -------------------------  ------------------------------------------ 
 2    Reason for the notification 
     --------------------------------------------------------------------- 
 a)   Position / st a tus        Martin Audio Managing 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)   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 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   Grant of a nominal cost option under 
       i o n                      the Focusrite plc Performance Share 
                                  Plan. 
     -------------------------  ------------------------------------------ 
 c)   Price(s) a n d vo l          Price(s)    Vo l umes 
       ume(s)                            Nil         5,046 
                                               ----------- 
     -------------------------  ------------------------------------------ 
 d)    Aggregated information    Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     -------------------------  ------------------------------------------ 
 e)   Date of the transaction    17 November 2021 
     -------------------------  ------------------------------------------ 
 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                     David Gibbons 
     -------------------------  ------------------------------------------ 
 2    Reason for the notification 
     --------------------------------------------------------------------- 
 a)   Position / st a tus        Sequential Chief Executive 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)   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 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   Grant of a nominal cost option under 
       i o n                      the Focusrite plc Performance Share 
                                  Plan. 
     -------------------------  ------------------------------------------ 
 c)   Price(s) a n d vo l          Price(s)    Vo l umes 
       ume(s)                            Nil         5,396 
                                               ----------- 
     -------------------------  ------------------------------------------ 
 d)    Aggregated information    Not applicable - single transaction 
        - Aggregated volume 
        - Price 
     -------------------------  ------------------------------------------ 
 e)   Date of the transaction    17 November 2021 
     -------------------------  ------------------------------------------ 
 f)   Place of the transaction   Outside a trading venue 
     -------------------------  ------------------------------------------ 
 

-ends-

Enquiries:

For further information contact:

 
 Focusrite plc                                             +44 (0) 149 446 2246 
 Tim Carroll, Chief Executive Officer 
 Sally McKone, Chief Financial Officer 
 
 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 
 Edward Knight 
 Michael Burke 
 James Smith 
 
 Belvedere Communications                                  +44 (0) 20 3687 2756 
 John West 
 Llew Angus 
 

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 eight established brands: Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio, Martin Audio, Optimal Audio and Sequential.

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 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. Sequential designs and manufactures high end analogue synthesizers.

The Focusrite Group has offices in four continents and a global customer base with a distribution network covering approximately 160 territories.

Focusrite plc is traded on the AIM market, London Stock Exchange.

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END

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November 19, 2021 11:30 ET (16:30 GMT)

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