Exercise of Options

RNS Number : 3710U

Spectra Systems Corporation

23 October 2017

 

Spectra Systems Corporation

("Spectra Systems" or the "Company")

Exercise of Options

Spectra Systems announces that on 19 October 2017 Martin Jaskel, Non-executive Director of the Company, exercised options over 28,003 shares of common stock of $0.01 in the Company ("Shares"). The Shares are restricted securities as defined in Rule 144 of the US Securities Act of 1933 and have been or will be issued pursuant to an exemption from registration under Rule 701 promulgated under the US Securities Act of 1933.

Accordingly the Company will apply for 28,003 Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on 27 October 2017 ("Admission").

Following Admission the Company's issued share capital will comprise:

622,841 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and

44,811,913 shares in the unrestricted line ISIN number US84756T1060 (AIM:SPSY).

Spectra Systems has no Shares in Treasury, therefore 45,434,754 may be used by Shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's  Disclosure and Transparency Rules.

Enquiries:

Spectra Systems Corporation

   Dr. Nabil Lawandy, Chief Executive Officer                            Tel: [phone]

WH Ireland Limited

   Chris Fielding (Head of Corporate Finance)                           Tel: [phone]

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Martin Jaskel
2	Reason for the notification
a)	Position/status	Non-executive Director
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Spectra Systems Corporation
b)	LEI	N/A
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	Regulation S restricted common stock of US$0.01 ISIN: [USU8457D1091] TIDM: [SPSC]
b)	Nature of the transaction	Exercise of options
c)	Price(s) and volume(s)	Price(s) Volume(s) $0.60 USD 28,003
d)	Aggregated information -     Aggregated volume -     Price	28,003 $0.60 USD
e)	Date of the transaction	19October 2017
f)	Place of the transaction	London Stock Exchange

 

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