Spectra Systems Corporation Exercise of Options and Director/PDMR Shareholding (5453Y)

TIDMSPSY TIDMSPSC

RNS Number : 5453Y

Spectra Systems Corporation

10 September 2020

Spectra Systems Corporation

("Spectra" or the "Company")

Exercise of Options and Director/PDMR Shareholding

Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies, and gaming security software, announces the exercise of options by Nabil M. Lawandy, Chief Executive Officer of Spectra, Martin Jaskel a Director of Spectra and an employee of Spectra.

Dr. Lawandy has exercised options over 90,416 shares of common stock of $0.01 each in the Company ("Shares"), of which he has surrendered 27,224 shares to the Company under the net cashless exercise feature of the options. Accordingly Dr. Lawandy will be issued 63,192 shares, increasing his interest in the issued share capital of the Company to 2,247,736 shares, representing 4.95% percent of its issued share capital.

Mr. Jaskel has exercised options over 75,000 shares of common stock of $0.01 each in the Company ("Shares"), of which he has surrendered 12,215 shares to the Company under the net cashless exercise feature of the options. Accordingly Mr. Jaskel will be issued 62,785 shares, increasing his interest in the issued share capital of the Company to 72,745 shares, representing 0.16% of its issued share capital

An employee has exercised options over 20,600 shares of common stock of $0.01 each in the Company ("Shares"), of which he has surrendered 6,203 shares to the Company under the net cashless exercise feature of the options. Accordingly the employee will be issued 14,397 shares

The shares being issued are restricted securities as defined in Rule 144 of the US Securities Act of 1933 and have been issued pursuant to an exemption from registration under Rule 701 promulgated under the US Securities Act of 1933.

Accordingly the Company has issued and will apply for 140,374 Shares to be admitted to trading on AIM, which is expected to take place on or around 15 September 2020 ("Admission").

Following Admission the Company's issued share capital will comprise:

   --    671,159 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and 
   --    44,731,846 shares in the unrestricted line ISIN number US84756T1060 (AIM:SPSY). 

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the FCA ("DTRs"), the issued share capital of Spectra upon Admission is 45,403,005 shares with voting rights attached (one vote per share). There are no shares held in treasury, therefore this figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Spectra under the DTRs.

Enquiries:

 
Spectra Systems Corporation                 Tel: [phone] 
 Dr. Nabil Lawandy 
WH Ireland Limited                          Tel: [phone] 
 Chris Fielding (Head of Coporate Finance) 
 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                          Nabil M. Lawandy 
     ------------------------------------------------------------  ------------------------------------------------ 
 2    Reason for the notification 
     -------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                               Chief Executive Officer 
     ------------------------------------------------------------  ------------------------------------------------ 
 b)   Initial notification/ Amendment                               Initial notification 
     ------------------------------------------------------------  ------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     -------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                          Spectra Systems Corporation 
     ------------------------------------------------------------  ------------------------------------------------ 
 b)   LEI                                                           21380047EWJYQG53D640 
     ------------------------------------------------------------  ------------------------------------------------ 
 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   Regulation S restricted common stock of US$0.01 
       Identification code 
                                                                     USU8457D1091 
     ------------------------------------------------------------  ------------------------------------------------ 
 b)   Nature of the transaction                                     Exercise of Options 
     ------------------------------------------------------------  ------------------------------------------------ 
 c)   Price(s) and volume(s)                                         Price(s)     Volume(s) 
                                                                      $0.60 USD    63,192 
                                                                                  ---------- 
     ------------------------------------------------------------  ------------------------------------------------ 
 d)    Aggregated information                                                   63,192 common shares 
         *    Aggregated volume                                                  $0.60 USD 
 
 
         *    Price 
     ------------------------------------------------------------  ------------------------------------------------ 
 e)   Date of the transaction                                       8 September 2020 
     ------------------------------------------------------------  ------------------------------------------------ 
 f)   Place of the transaction                                      London Stock Exchange 
     ------------------------------------------------------------  ------------------------------------------------ 
 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                          Martin Jaskel 
     ------------------------------------------------------------  ------------------------------------------------ 
 2    Reason for the notification 
     -------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                               Non-executive Director 
     ------------------------------------------------------------  ------------------------------------------------ 
 b)   Initial notification/ Amendment                               Initial notification 
     ------------------------------------------------------------  ------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     -------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                          Spectra Systems Corporation 
     ------------------------------------------------------------  ------------------------------------------------ 
 b)   LEI                                                           21380047EWJYQG53D640 
     ------------------------------------------------------------  ------------------------------------------------ 
 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   Regulation S restricted common stock of US$0.01 
       Identification code 
                                                                     USU8457D1091 
     ------------------------------------------------------------  ------------------------------------------------ 
 b)   Nature of the transaction                                     Exercise of Options 
     ------------------------------------------------------------  ------------------------------------------------ 
 c)   Price(s) and volume(s)                                         Price(s)       Volume(s) 
                                                                      GBP0.25 GBP    62,785 
                                                                                    ---------- 
     ------------------------------------------------------------  ------------------------------------------------ 
 d)    Aggregated information                                                   62,785 common shares 
         *    Aggregated volume                                                  GBP0.25 GBP 
 
 
         *    Price 
     ------------------------------------------------------------  ------------------------------------------------ 
 e)   Date of the transaction                                       8 September 2020 

     ------------------------------------------------------------  ------------------------------------------------ 
 f)   Place of the transaction                                      London Stock Exchange 
     ------------------------------------------------------------  ------------------------------------------------ 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHBKLLBBKLLBBK

(END) Dow Jones Newswires

September 10, 2020 02:00 ET (06:00 GMT)