Proposed Secondary Placing of Existing Shares

RNS Number : 3736U

Somero Enterprises Inc.

28 March 2019

 

Somero Enterprises Inc.

("Somero" or the "Company")

Proposed Secondary Placing of Ordinary Shares in Somero

Somero announces that it has been advised by Jack Cooney, CEO of the Company (the "Seller"), that he intends to sell approximately 800,000 ordinary shares of $0.001 each in the Company (the "Placing Shares"), at a price of 340 pence per share. The Placing Shares represent approximately 1.42 per cent. of the voting rights of Somero.

The US tax legislation obliges Mr. Cooney to make withdrawals from his current pension plans during 2019, the assets of which consist solely of Somero shares.

Following this sale, Mr. Cooney has agreed with the Company that he will not dispose of any of his remaining shareholding, for a period of at least 24 months.

A further announcement will be made shortly.

For further information, please contact:

Somero Enterprises, Inc.                                                         www.somero.com

Jack Cooney, CEO                                                                   

John Yuncza, CFO

Howard Hohmann, EVP Sales

finnCap Ltd (NOMAD and Broker)

Matt Goode (Corporate Finance)                                             [phone]

Carl Holmes (Corporate Finance)

Kate Bannatyne (Corporate Finance)

Tim Redfern/Richard Chambers (ECM)

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

Rebecca Sanders-Hewett                                                         [phone]

Susie Hudson

Sam Modlin

 

END

 

 

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