Director/PDMR Shareholding

RNS Number : 6648S

Somero Enterprises Inc.

21 March 2016

 

21 March 2016

Somero Enterprises, Inc.

("Somero" or the "Company")

Director/PDMR Shareholding

Mr Jack Cooney, Chief Executive Officer, has notified the Company today that Mr Cooney and his wife, Ellen Cooney, on 18 March 2016 sold 1,400,000 ordinary shares in the Company at a price of 144 pence per share, in order to satisfy a US tax obligation. The 1,400,000 ordinary shares represent 2.49% of the current issued share capital of the Company and approximately half of Mr Cooney's total holding of 2,814,634 ordinary shares. Following completion of the sale, Mr Cooney and his wife remain interested in 1,414,634 ordinary shares, representing 2.52 per cent of the entire issued share capital of Somero.

The US tax legislation obliges Mr and Mrs Cooney to make withdrawals from their current pension plans during 2016, the assets of which consist solely of Somero shares.

Following this sale, Mr Cooney has agreed with the Company that he will not dispose of any of his remaining shareholding, for a period of at least the next 24 months.

For further information, please contact:

Somero Enterprises, Inc.                                                                              www.somero.com

Jack Cooney, CEO                                                                                            [phone]

John Yuncza, CFO

Howard Hohmann, EVP Sales

Canaccord Genuity Ltd (NOMAD and Joint Broker)

Bruce Garrow                                                                                                    [phone]

Piers Coombs

Mark Whitmore

finnCap Ltd (Joint Broker)

Matt Goode                                                                                                        [phone]

Carl Holmes

Tim Redfern

Redleaf Communications Ltd (Financial PR Advisor)                      [e-mail]

Rebecca Sanders-Hewett                                                                             [phone]

David Ison

Susie Hudson

 

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