Transaction in Restricted Stock Units (RSUs)

RNS Number : 5612C

Somero Enterprises Inc.

22 January 2018

 

Somero Enterprises, Inc.

("Somero" or the "Company")

Transaction in Restricted Stock Units (RSUs)

Somero announces that, on Friday, 19 January 2018, it approved the settlement, in cash, of Restricted Stock Units ("RSUs") for John T. Cooney, Chief Executive Officer.  This transaction resulted in 64,271 RSUs being settled for cash at a price per share of 350.02p under the terms of the Somero 2010 Equity Incentive Plan.

The price and exchange rates used for the cash settlement of the RSUs reflect the closing price and exchange rates on the 3-year vesting date of the RSUs.

After taking into account the above cash settlement of RSU units, there remain outstanding RSUs equal to 322,701 units.

Mr. Cooney's beneficial interest in Somero remains at 1,414,634 ordinary shares, or 2.52% of Somero's total voting rights.

The Company's total issued ordinary share capital is 56,425,598 shares.  The Company holds 183,477 of its shares in Treasury and has 56,242,121 ordinary shares in issue excluding Treasury shares which was unchanged by the above transaction.

Enquiries:

Somero Enterprises, Inc.                                                                              www.somero.com Jack Cooney, CEO                                                                                            [phone] John Yuncza, CFO Howard Hohmann, EVP Sales finnCap Ltd (NOMAD and Broker) Matt Goode (Corporate Finance)                                                             [phone] Carl Holmes (Corporate Finance) Tim Redfern (Corporate Broking) Redleaf Communications Ltd (Financial PR Advisor)                       [e-mail] Elisabeth Cowell                                                                                             [phone]

 

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