Director Shareholding

RNS Number : 1409D

Somero Enterprises Inc.

26 January 2015

 

26 January 2015

Somero Enterprises, Inc ® (the "Company")

Director Shareholding

On 23 January 2015, the Board of the Company approved awards to the following non-executive Directors under the terms of Somero's 2010 Equity Incentive Plan at a price of 123.5 pence per restricted share unit (RSU) being the closing price on 23 January 2015.

Name                                                    Existing Shareholding                    Number of RSU's awarded

Lawrence Horsch                             152,000 shares                                   9,312 shares                                                      

Ronald Maskalunas                         -                                                              6,650 shares                                                      

Thomas Anderson                           -                                                              6,650 shares                                                      

The number of shares referred to is the maximum available under the grant and the awarded shares will vest over a three-year period beginning on the date of the grant and require continued service for the period.

The participating Directors will, following the end of the performance period, be notified as to the extent to which the performance conditions have been met and their award has vested.

Unless determined otherwise by the administrator of the scheme, each Restricted Stock Unit will be equal to one ordinary share in the Company and will entitle each Director to either ordinary shares or an amount of cash determined with reference to the value of ordinary shares at the discretion of the Company.

The Company's total issued share capital is 56,425,598 ordinary shares.

Enquiries:

Somero Enterprises, Inc.                              Tel: [phone]

Jack Cooney, CEO

Neil Mathur, CFO

Canaccord Genuity Limited                         Tel: [phone]

Chris Robinson

Piers Coombs

Peter Stewart

 

END

 

 

RDSEADFKAANSEFF