Transaction in Restricted Stock Units (RSUs)

RNS Number : 7325O

Somero Enterprises Inc.

04 October 2019

 

Somero Enterprises, Inc.

("Somero" or the "Company")

Transaction in Restricted Stock Units (RSUs)

Somero announces that on 2 October 2019, it approved the settlement of Restricted Stock Units (RSUs) for Thomas Kunesh, an Applicable Employee of the Company, pursuant to the Somero 2010 Equity Incentive Plan. This transaction resulted in 4,178 RSUs being converted to common stock in the Company, at a price per share of 190.5 pence per ordinary share ("Ordinary Share"), by eligible managers under the terms of the Somero 2010 Equity Incentive Plan. 

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

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 9 October 2019. The new shares of common stock rank pari passu with the existing common stock in the Company.

Following the above transaction the Company's total issued share capital will be 56,425,598 with 77,530 shares held in Treasury. Therefore, the total number of shares with voting rights will be 56,348,068.

Enquiries:
Somero Enterprises, Inc.  Jack Cooney, CEO John Yuncza, CFO Howard Hohmann, EVP Sales finnCap  (NOMAD and Broker) Matt Goode (Corporate Finance) Carl Holmes (Corporate Finance) Kate Bannatyne (Corporate Finance) Tim Redfern / Richard Chambers (ECM) Alma PR (Financial PR Advisor)      Rebecca Sanders-Hewett     Susie Hudson Sam Modlin	www.somero.com [phone] [phone] [e-mail] [phone]

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Thomas Kunesh
2	Reason for notification
a.	Position/Status	Applicable Employee
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 Identification Code	Ordinary Shares of $0.001 each. SOM
b.	Nature of the transaction	Equity Incentive Programme
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			190.5p	4,178
d.	Aggregated information - Aggregated Volume - Price	4,178 190.5p
e.	Date of the transaction	2 October 2019
f.	Place of the transaction	London Stock Exchange

Notes to Editors:

Somero Enterprises provides industry-leading concrete-levelling equipment, training, education and support to customers in over 90 countries. The Company's cutting-edge technology allows its customers to install high-quality horizontal concrete floors faster, flatter and with fewer people. Somero equipment that incorporates laser-technology and wide-placement methods is used to place and screed the concrete slab in all building types and has been specified for use in a wide range of commercial construction projects for numerous global blue-chip companies.

Somero pioneered the Laser Screed market in 1986 and has maintained its market-leading position by continuing to focus on bringing new products to market and developing patent-protected proprietary designs. In addition to its products, Somero offers customers unparalleled global service, technical support, training and education, reflecting the Company's emphasis on helping its customers achieve their business and profitability goals, a key differentiator to its peers.

For more information, visit www.somero.com

 

END

 

 

MSCCKNDQPBDDPKK