Director Holdings / Transaction in Own Shares

RNS Number : 7585Z

Somero Enterprises Inc.

17 March 2017

 

Somero Enterprises, Inc ("Somero" or the "Company")

Director Holdings / Transaction in Own Shares

Somero announces that on 16 March 2017, it was notified of the exercise of 1,312,109 stock options over ordinary shares (the "Options") by Executive Director and CEO, Jack Cooney and the further exercise of 85,704 Options by non-Executive Director, Tom Anderson. The resulting transactions following such exercise took place on 16 March 2017 and have been approved by the Board and in accordance with the Company's share dealing code. 

In accordance with terms of the Option Buy-Back Program approved on 15 November 2013, these Options will all be settled for cash based on a price of 280p per share, reflecting the share price at close of market on 16 March 2017.

Mr. Cooney's total beneficial holdings in the Company remain unchanged at 1,414,634 ordinary shares following this option exercise. 

After taking into account the above settlement of Options, there remain outstanding options over a total of 188,548 ordinary shares in the Company.

The Company's total issued ordinary share capital is 56,425,598 shares and the Company holds 221,996 of its shares in Treasury and has 56,203,602 ordinary shares in issue excluding Treasury shares which was unchanged by the above transaction.

For further information, please contact:

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]

Rebecca Sanders-Hewett                                                                             [phone]

David Ison

Susie Hudson

 

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