Transaction in Restricted Stock Units

RNS Number : 8537C

Somero Enterprises Inc.

25 January 2018

 

Somero Enterprises, Inc.

("Somero" or the "Company")

Transaction in Restricted Stock Units (RSUs)

Somero announces that, on Tuesday, 23 January 2018, it approved the settlement, in cash, of Restricted Stock Units ("RSUs") for non-executive Directors Lawrence Horsch and Tom Anderson.  This transaction resulted in 15,962 RSUs being settled for cash at a price per share of 355p 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 306,739 units.

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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