SOMERO ENTERPRISES, INC. Somero Enterprises Inc.
('Somero' or the 'Company')
Transactions in Own Shares and Restricted Stock Units
Somero announces that on 17 March 2020 it approved the settlement of 3,559 Restricted Stock Units (RSU's) in exchange for an equivalent number of common stock shares of the Company at a price of 170p, reflecting the close price on the day of settlement, as permitted under the terms of the 2020 Equity Incentive Plan.
Included in this exchange, the following executive Director received shares:
Name | Existing holding of Common Stock | Awarded under the Plan | Resulting Shareholding |
John Yuncza | 113,051 | 3,000 | 116,051 |
Application will be made to the London Stock Exchange for admission to trading on AIM of the shares of common stock in the Company to satisfy this common stock award ('Admission'). Admission is expected to occur on or about 24 March 2020. The new shares of common stock will rank pari passuwith the existing common stock in the Company.
In conjunction with this common stock award, the Board of the Company has approved the cancellation of the equivalent number of shares held in Treasury.
Unless determined otherwise by the Equity Incentive Plan administrator, each RSU will be equal to one share of common stock in the Company and will entitle the Grantee to either shares of common stock or an amount of cash determined with reference to the value of shares of common stock at the discretion of the Company.
Following the above transaction, total outstanding RSUs will equal 679,366 units and the Company's total issued share capital will be 56,425,598 with 38,724 shares held in Treasury. Therefore, the total number of shares with voting rights will be 56,386,874.
For further information, please contact:
Somero Enterprises, Inc.www.somero.com
Jack Cooney, CEO
John Yuncza, CFO
Howard Hohmann, EVP Sales
finnCap Ltd (NOMAD and Broker)
Matt Goode (Corporate Finance) +44 (0)20 7220 0500
Carl Holmes (Corporate Finance)
Kate Bannatyne (Corporate Finance)
Tim Redfern/Richard Chambers (ECM)
Alma PR (Financial PR Advisor)somero@almapr.co.uk
Rebecca Sanders-Hewett +44 (0) 2038 659 667
Susie Hudson
Sam Modlin
1. | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | John Yuncza |
2. | Reason for the Notification | |
a) | Position/status | Chief Financial Officer/ Executive Director |
b) | Initial notification/Amendment | Initial notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Somero Enterprises Inc. |
b) | LEI | 549300OQ2P18NRWBIW58 |
4. | 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 $0.001 each ('Ordinary Shares') |
Identification code | SOM | |
b) | Nature of the transaction | Employee Share Award |
c) | Price(s) and volume(s) | Price: 170p Volume: 3,000 |
d) | Aggregated information: · Aggregated volume · Price | n/a |
e) | Date of the transaction | 17 March 2020 |
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) |
5. | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Jesse Aho |
6. | Reason for the Notification | |
a) | Position/status | Senior Vice-President of Operations |
b) | Initial notification/Amendment | Initial notification |
7. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Somero Enterprises Inc. |
b) | LEI | 549300OQ2P18NRWBIW58 |
8. | 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 $0.001 each ('Ordinary Shares') |
Identification code | SOM | |
b) | Nature of the transaction | Employee Share Award |
c) | Price(s) and volume(s) | Price: 170p Volume: 559 |
d) | Aggregated information: · Aggregated volume · Price | n/a |
e) | Date of the transaction | 17 March 2020 |
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) |
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Somero Enterprise Inc. published this content on 18 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2020 07:21:10 UTC
