Share Buy-Back and Removal of Reg S Restrictions

RNS Number : 0059R

Spectra Systems Corporation

25 June 2020

 

Spectra Systems Corporation

("Spectra" or the "Company")

Share Buy-Back and Removal of Regulation S restrictions

The board of Spectra announces that on 24 June 2020 WH Ireland Limited purchased for cancellation 225,000 of Spectra's common shares (unrestricted line with ISIN US84756T1060) at a price of 122.5 pence per share. This purchase was made in accordance with the Company's Byelaws and with a board authority dated 8 April 2019 for up to 4,500,000 of the Company's shares to be bought back. A total of 371,000 common shares have been purchased and cancelled under this authority.

The Company further announces that restrictive legends have been removed from a further 35,670 shares of common stock of the Company. As a result, these share have transferred from the Regulation S stock line ISIN number USU8457D1091 (AIM: SPSC) into the unrestricted line ISIN number US84756T1060 (AIM: SPSY)

The Company advises that, following this purchase and cancellation, the Company's issued share capital now comprises 45,537,631 common shares as follows:

530,785 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and

45,006,846 shares in the unrestricted line ISIN number US84756T1060 (AIM:SPSY).

Spectra Systems has no Shares in treasury, therefore 45,537,631 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, Managing Director, Corporate Finance    Tel: [phone]

 

END

 

 

MSCSEUEFLESSEFM