Transaction in Restricted Stock Units

RNS Number : 3998U

Somero Enterprises Inc.

29 March 2019

 

Somero Enterprises, Inc.

("Somero" or the "Company")

Transaction in Restricted Stock Units (RSUs)

Somero announces that on Thursday, 28 March 2019, it approved the settlement of Restricted Stock Units (RSUs) for John Yuncza, Executive Director as well as non-executive, non-director managers eligible under the Somero 2010 Equity Incentive Plan. This transaction resulted in 128,215 RSUs being settled for cash at a price per share of 350.00p and 10,640 RSUs converted to common stock in the Company by eligible managers under the terms of the Somero 2010 Equity Incentive Plan. 

The price and exchange rates used for the settlement of the RSUs reflect the closing price and exchange rates on the 3-year vesting date of the RSUs.

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 5 April 2019. The new shares of common stock will rank pari passu with the existing common stock in the Company.

 Following the above transactions, total outstanding RSUs will equal 488,651 units and the Company's total issued share capital will be 56,425,598 with 87,256 shares held in Treasury. Therefore, the total number of shares with voting rights will be 56,338,342.

Enquiries:
Somero Enterprises, Inc.                                                                              www.somero.com Jack Cooney, CEO                                                                                            John Yuncza, CFO Howard Hohmann, EVP Sales finnCap Ltd (NOMAD & Broker) Matt Goode (Corporate Finance)                                                               [phone] Carl Holmes (Corporate Finance) Kate Bannatyne (Corporate Finance) Tim Redfern/Richard Chambers (ECM) Alma PR (Financial PR Advisor)                              Rebecca Sanders-Hewett                                                                                     [phone] Susie Hudson                                                                                                   [e-mail] Sam Modlin
1.		Details of the person discharging managerial responsibilities / person closely associated
a)		Name		John Yuncza
2.		Reason for the Notification
a)		Position/status		Chief Financial Officer
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		Equity Incentive Programme
c)		Price(s) and volume(s)		Price: 350p Volume: 7,500
d)		Aggregated information: ·      Aggregated volume ·      Price		n/a
e)		Date of the transaction		28 March 2019
f)		Place of the transaction		London Stock Exchange, AIM Market (XLON)

 

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