Exercise of Options

RNS Number : 4917K

Spectra Systems Corporation

11 April 2018

 

Spectra Systems Corporation

("Spectra Systems" or the "Company")

Exercise of Options

Spectra Systems announces that on 9 April 2018 Martin Jaskel, Non-executive Director of the Company, exercised options over 33,869 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 33,869 Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on 16 April 2018 ("Admission").

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

656,710 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 45,468,623 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	21380047EWJYQG53D640
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 33,869
d)	Aggregated information -     Aggregated volume -     Price	33,869 $0.60 USD
e)	Date of the transaction	9 April 2018
f)	Place of the transaction	London Stock Exchange

 

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