Issue of Equity

RNS Number : 0318F

Somero Enterprises Inc.

16 March 2022

 

Somero Enterprises Inc.

("Somero" or the "Company")

Issue of Equity

Somero announces that on 15 March 2022 it approved the settlement of 14,886 Restricted Stock Units (RSU's) in exchange for an equivalent number of common stock shares of the Company at a price of 485p, reflecting the close price on the day of settlement, as permitted under the 2020 Equity Incentive Plan approved by the Board of Directors on December 3, 2019.

Application will be made to the London Stock Exchange for admission to trading on AIM of the shares of common stock in the Company to satisfy this common stock award ("Admission"). Admission is expected to occur on or about 22 March 2022. The new shares of common stock will rank pari passu with the existing common stock in the Company.

Unless determined otherwise by the Equity Incentive Plan administrator, each RSU will be equal to one share of common stock in the Company and will entitle the Grantee to either shares of common stock or an amount of cash determined with reference to the value of shares of common stock at the discretion of the Company.

Following the above transaction, total outstanding RSUs will equal 673,974 units and the Company's total issued share capital will be 56,095,277 with no shares held in Treasury. Therefore, the total number of shares with voting rights will be 56,095,277.

For further information, please contact:

Somero Enterprises, Inc.                                                                 www.somero.com

Jack Cooney, CEO       [phone]

John Yuncza, President

Enzo LiCausi, CFO

Howard Hohmann, EVP Sales

finnCap Ltd (NOMAD and Broker)

Matt Goode (Corporate Finance)  [phone]

Kate Bannatyne (Corporate Finance)

Tim Redfern (Corporate Broking)

Alma PR (Financial PR Advisor)   [e-mail]

David Ison                                                                                         [phone]

Sam Modlin

Rebecca Sanders-Hewett

 

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Yuncza
2.	Reason for the Notification
a)	Position/status	President
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Somero Enterprises Inc.
b)	LEI	549300OQ2P18NRWBIW58
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	ordinary shares of $0.001 each ("Ordinary Shares")
	Identification code	SOM
b)	Nature of the transaction	Employee Share Award
c)	Price(s) and volume(s)	Price: 485p Volume: 5,864
d)	Aggregated information: · Aggregated volume · Price	n/a
e)	Date of the transaction	15 March 2022
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

5.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Enzo LiCausi
6.	Reason for the Notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
7.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Somero Enterprises Inc.
b)	LEI	549300OQ2P18NRWBIW58
8.	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	ordinary shares of $0.001 each ("Ordinary Shares")
	Identification code	SOM
b)	Nature of the transaction	Employee Share Award
c)	Price(s) and volume(s)	Price: 485p Volume: 2,817
d)	Aggregated information: · Aggregated volume · Price	n/a
e)	Date of the transaction	15 March 2022
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

END

 

 

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