Somero Enterprises Inc. Transaction in Restricted Stock Units (3998U)

TIDMSOM

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                 ordinary shares of $0.001 each ("Ordinary 
           Financial instrument,              Shares") 
           type of instrument 
          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:            n/a 
            *    Aggregated volume 
 
 
            *    Price 
         ---------------------------------  ------------------------------------------ 
 e)       Date of the transaction            28 March 2019 
         ---------------------------------  ------------------------------------------ 
 f)       Place of the transaction           London Stock Exchange, AIM Market 
                                              (XLON) 
         ---------------------------------  ------------------------------------------ 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

DSHDMGZFRRFGLZM

(END) Dow Jones Newswires

March 29, 2019 03:02 ET (07:02 GMT)