Spectra Systems Corporation Exercise of Options (6071N)

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RNS Number : 6071N

Spectra Systems Corporation

01 February 2021

Spectra Systems Corporation

("Spectra" or the "Company")

Exercise of Options

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 an employee of Spectra.

The employee has exercised options over 20,000 shares of common stock of $0.01 each in the Company ("Shares") with an exercise price of 25p per Share. The employee has elected to utilize the net cashless exercise feature and has therefore surrendered 2,755 shares to the Company. Accordingly the employee will be issued 17,245 shares of the Company.

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 17,245 Shares to be admitted to trading on AIM, which is expected to take place on or around 5 February 2021 ("Admission").

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

-- 883,527 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and

-- 44,534,239 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 45,417,766 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 Corporate 
 Finance) 
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014.

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February 01, 2021 10:33 ET (15:33 GMT)