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 28 November 2023 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 | 84,956 |
| Sally McKone | 60,458 |
| Damian Hawley | 20,764 |
| Tim Dingley | 20,764 |
| Simon Holt | 17,980 |
| Christian Hellinger | 18,975 |
| Dom Harter | 20,207 |
| David Gibbons | 23,327 |
| Rodney Densham | 10,021 |
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 Company's adjusted, earnings per share for the over the period from 1 September 2023 to 31 August 2026. Fuller details of the performance condition shall be set out in the Company's Directors' Remuneration Report for the year ending 31 August 2024.
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 | 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 |
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 | 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 | 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 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 | 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 | Tim Dingley | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Managing Director, Focusrite Novation | ||||
| 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 | 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 | 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 | 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 | Christian Hellinger | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | ADAM Audio 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) | 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 | 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 | Dom Harter | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Martin Audio Managing 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 | 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 | David Gibbons | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Sequential 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 | 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 | 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 | Rodney Densham | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | CEO, Sonnox | ||||
| 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 | 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) | +44 (0) 20 7597 5970 |
| David Flin / William Brinkley / Edward Knight | |
| 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 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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