Transaction in Restricted Stock Units

RNS Number : 2340W

Somero Enterprises Inc.

07 February 2017

 

Somero Enterprises, Inc.

("Somero" or the "Company")

Transaction in Restricted Stock Units (RSUs)

Somero announces that on Monday, 6 February 2017, it approved the settlement in cash of Restricted Stock Units (RSUs) for Lawrence Horsch and Thomas Anderson, both Non-Executive Directors of the Company. This transaction resulted in 3,356 RSUs being settled for cash at a price per share of 254p under the terms of the Somero 2010 Equity Incentive Plan. 

Of the 3,356 RSUs being settled for cash, 1,958 RSUs were held by Lawrence Horsch and 1,398 were held by Thomas Anderson.  

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 257,287 units.

As a result of the transaction, there were no changes to Mr. Horsch's or Mr. Anderson's beneficial interest in Somero. 

The Company's total issued ordinary share capital is 56,425,598 shares. The Company holds 221,996 of its shares in Treasury and has 56,203,602 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 & Broker) Matt Goode (Corporate Finance)                                                              [phone] Carl Holmes (Corporate Finance) Tim Redfern (Corporate Broking) Redleaf Communications Ltd (Financial PR Advisor)                      [e-mail] Rebecca Sanders-Hewett                                                                            [phone] David Ison Susie Hudson

 

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