Transaction in Own Shares

RNS Number : 7278J

Somero Enterprises Inc.

16 June 2014

 



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

Transaction in Own Shares

Somero announces that on Friday 13 June 2014 it approved three transactions in respect of employee share schemes. 

Firstly, in accordance with the share repurchase programme announced on 20 May 2013, it purchased and transferred into treasury 110,392 shares of its own shares at a price of 118 pence per share on 13 June 2014.

Secondly, in accordance with the option buy-back programme approved on 15 November 2013, 33,333 options over ordinary shares have been bought back and cancelled using a price of 118p per share and 34,281 options over ordinary shares have been bought back and cancelled using a price of 121.5p per share. Both option repurchases were approved and took effect on 13 June 2014.  The price used for cancellation for the two option repurchases reflects the closing price on the day the request was submitted for approval.

After taking into account the above buy-back of options, there remain outstanding share options over a total of 2,334,474 ordinary shares in the Company.

The Company's total issued ordinary share capital is 56,425,598 shares.  Following the purchase of these shares, the Company holds 171,219 of its shares in Treasury and has 56,254,379 ordinary shares in issue excluding Treasury shares.

Enquiries:
Somero Enterprises, Inc
Jack Cooney, CEO	Tel: [phone]
Mike Niemela, CFO	Tel: [phone]
Canaccord Genuity Limited
Chris Robinson	Tel: [phone]
Piers Coombs	Tel: [phone]

 

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