Focusrite plc
("the Company" or "the Group")
Focusrite plc FY23 Discretionary Directors Bonus (FY23 Bonus)
Director Share Dealings
Focusrite plc (AIM:TUNE), the global music and audio products company that trades under the Focusrite and Novation brands, announces that on 28 November 2023 it awarded ordinary shares of 0.1p each in the capital of the Company ("Shares") to Tim Carroll, Group CEO of the Company and Sally McKone, Group CFO of the Company (each Persons Discharging Managerial Responsibilities ("PDMRs")), as listed below.
| Director | No. of Shares awarded |
| Tim Carroll | 8,933 |
| Sally McKone | 15,622 |
The Shares were awarded to the PDMRs as part of the Company's annual bonus arrangements for the 2023 financial year. Each PDMR elected to convert a portion of their annual bonus into Shares, and in return received an award of further Shares on a 1:1 basis.
Neither PDMR may ordinarily sell, transfer, assign or dispose of the Shares for a period of two years.
The award of the shares was settled in part by the transfer of 8,933 ordinary shares to Mr. Carroll and the transfer of 15,622 ordinary shares to Ms McKone and in part with a cash payment equal to market value of 7,922 ordinary shares to meet Mr. Carroll's liability to income tax and employee national insurance arising on award of the bonus shares and 13,853 ordinary shares to meet Ms McKone's liability to income tax and employee national insurance arising on award of the bonus shares.
Following the award Mr. Carroll's beneficial holding is 97,446 Ordinary Shares in the Company representing 0.16% of the total number of shares in the Company and Ms McKone's beneficial holding is 27,630 Ordinary Shares in the Company representing 0.04% of the total number of shares in the Company.
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 |
Group 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) | 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 | Acquisition of shares pursuant to Focusrite plc's annual bonus arrangements for the 2023 financial year | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction
| ||||
| e) | Date of the transaction | 28 November 2023 | ||||
| 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 |
Group 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) | 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 | Acquisition of shares pursuant to Focusrite plc's annual bonus arrangements for the 2021 financial year | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction
| ||||
| e) | Date of the transaction | 28 November 2023 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
-ends-
Enquiries:
| Focusrite plc: | |
| Tim Carroll (CEO) | +44 1494 462246 |
| Sally McKone (CFO) | +44 1494 462246 |
| | |
| Investec Bank plc (Nominated Adviser and Joint Broker) David Flin Edward Knight William Brinkley
Peel Hunt LLP (Joint broker) Paul Gillam Michael Burke James Smith | +44 20 7597 5970
+44 20 7418 8900 |
| Belvedere Communications John West Llew Angus | +44 207 653 8703 |
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 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 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.
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.
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