Transaction in Restricted Stock Units (RSUs)

RNS Number : 0919B

Somero Enterprises Inc.

02 January 2015

 

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

Transaction in Restricted Stock Units (RSUs)

Somero announces that on Wednesday 31 December 2014 it approved the settlement in cash of Restricted Stock Units (RSUs) for Michael F. Niemela, former Chief Financial Officer, following his retirement announced on 6 October 2014.  This transaction resulted in 107,252 RSUs being settled for cash at a price per share of 119.0p under the terms of the Somero 2010 Equity Incentive Plan.

The price and exchange rates used for the cash settlement of the RSUs reflect the last closing price and exchange rates on the termination of employment due to retirement date being 31 December 2014.

After taking into account the above cash settlement of RSU units, there remain outstanding RSUs equal to 343,084 units.

The Company's total issued ordinary share capital is 56,425,598 shares and the Company holds 232,700 of its shares in Treasury and has 56,192,898 ordinary shares in issue excluding Treasury shares which was unchanged by the above transaction.

Enquiries:

Somero Enterprises, Inc.                   Tel: [phone]

Jack Cooney, CEO

Neil Mathur, CFO

Canaccord Genuity Limited              Tel: [phone]

Chris Robinson

Piers Coombs

Peter Stewart

 

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