Director Shareholding

RNS Number : 9201C

Somero Enterprises Inc.

22 January 2015

 

Somero Enterprises, Inc ® (the "Company")

22 January 2015

Director Shareholding

On 21 January 2015, the Board of the Company approved awards to the following executive Director under the terms of Somero's 2010 Equity Incentive Plan at a price of 124 pence per restricted share unit (RSU) being the closing price on 21 January 2015.

Name                                    Existing Shareholding                                    Number of RSU awarded

Jack Cooney                       2,814,634 shares                                               64,271

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 employment for the period.

The participating Director 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 the 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

 

 

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