Transactions in Own Shares and RSUs

RNS Number : 8334M

Somero Enterprises Inc.

24 September 2021

 

Somero Enterprises Inc.

("Somero" or the "Company")

Transactions in Own Shares and Restricted Stock Units

Somero announces that on 23 September 2021 it approved the settlement of 5,548 Restricted Stock Units (RSU's) in exchange for an equivalent number of common stock shares of the Company at a price of 540p, reflecting the close price on the day of settlement, as permitted under the 2020 Equity Incentive Plan approved by the Board of Directors on December 3, 2019.

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 or about 30 September 2021. The new shares of common stock will rank pari passu with the existing common stock in the Company.

In conjunction with this common stock award, the Board of the Company has approved the cancellation of the equivalent number of shares held in Treasury.

 Unless determined otherwise by the Equity Incentive Plan administrator, each RSU will be equal to one share of common stock in the Company and will entitle the Grantee to either shares of common stock or an amount of cash determined with reference to the value of shares of common stock at the discretion of the Company.

Following the above transaction, total outstanding RSUs will equal 686,856 units and the Company's total issued share capital will be 56,357,064 with 237,787 shares held in Treasury. Therefore, the total number of shares with voting rights will be 56,119,277.

For further information, please contact:

Somero Enterprises, Inc.   www.somero.com

Jack Cooney, CEO   

John Yuncza, CFO

Howard Hohmann, EVP Sales

finnCap Ltd (NOMAD and Broker)

Matt Goode (Corporate Finance)  [phone]

Kate Bannatyne (Corporate Finance)

Tim Redfern/Richard Chambers (ECM)

Alma PR (Financial PR Advisor)       [e-mail]

David Ison                                                                                    [phone]

Sam Modlin

Molly Gretton

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Vincenzo LiCausi
2.	Reason for the Notification
a)	Position/status	Vice-President of Finance and Controller
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	ordinary shares of $0.001 each ("Ordinary Shares")
	Identification code	SOM
b)	Nature of the transaction	Employee Share Award
c)	Price(s) and volume(s)	Price: 540 p Volume: 5,548
d)	Aggregated information: · Aggregated volume · Price	n/a
e)	Date of the transaction	23 September 2021
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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