Transaction in Restricted Stock Units

RNS Number : 2530X

Somero Enterprises Inc.

17 November 2014

 



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

Transaction in Restricted Stock Units (RSUs)

Somero announces that on Monday 17 November 2014 it approved the settlement in cash of Restricted Stock Units (RSUs) for 4 employees.  These transactions resulted in 242,805 RSUs being settled for cash at a price per share of 112.0p 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 3 year vesting date of the RSUs, being the 14 November 2014.

After taking into account the above cash settlement of RSU units, there remain outstanding RSUs equal to 450,336 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

Mike Niemela, CFO

Canaccord Genuity Limited              Tel: [phone]

Chris Robinson

Piers Coombs

Peter Stewart

 

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