REG - Somero Enterprises - Issue of Equity

Somero EnterprisesAnnouncement

16/03/2022 16:00

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RNS Number : 0318F  Somero Enterprises Inc.  16 March 2022

Somero Enterprises Inc.

 

("Somero" or the "Company")

 

Issue of Equity

 

Somero announces that on 15 March 2022 it approved the settlement of 14,886
Restricted Stock Units (RSU's) in exchange for an equivalent number of common
stock shares of the Company at a price of 485p, reflecting the close price on
the day of settlement, as permitted under the 2020 Equity Incentive Plan
approved by the Board of Directors on December 3, 2019.

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 22 March
2022. The new shares of common stock will rank pari passu with the existing
common stock in the Company.

 

Unless determined otherwise by the Equity Incentive Plan administrator, each
RSU will be equal to one share of common stock in the Company and will entitle
the Grantee to either shares of common stock or an amount of cash determined
with reference to the value of shares of common stock at the discretion of the
Company.

Following the above transaction, total outstanding RSUs will equal 673,974
units and the Company's total issued share capital will be 56,095,277 with no
shares held in Treasury. Therefore, the total number of shares with voting
rights will be 56,095,277.

 

For further information, please contact:

 

Somero Enterprises, Inc.
                            www.somero.com

Jack Cooney,
CEO
     +1 239 210 6500

John Yuncza, President

Enzo LiCausi, CFO

Howard Hohmann, EVP Sales

 

finnCap Ltd (NOMAD and Broker)

Matt Goode (Corporate
Finance)
+44 (0)20 7220 0500

Kate Bannatyne (Corporate Finance)

Tim Redfern (Corporate Broking)

 

Alma PR (Financial PR Advisor)
                                      somero@almapr.co.uk

David Ison
                                            +44 (0)
2034 050 205

Sam Modlin

Rebecca Sanders-Hewett

 

 

 

 1.                                Details of the person discharging managerial responsibilities / person closely
                                   associated
 a)                                Name                                                         John Yuncza
 2.                                Reason for the Notification
 a)                                Position/status                                              President
 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                                    Employee Share Award
 c)                                Price(s) and volume(s)                                       Price: 485p

                                                                                                Volume: 5,864
 d)                                Aggregated information:                                      n/a

                                   ·      Aggregated volume

                                   ·      Price
 e)                                Date of the transaction                                      15 March 2022
 f)                                Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

 

 

 

 5.                                Details of the person discharging managerial responsibilities / person closely
                                   associated
 a)                                Name                                                         Enzo LiCausi
 6.                                Reason for the Notification
 a)                                Position/status                                              Chief Financial Officer
 b)                                Initial notification/Amendment                               Initial notification

 7.                                Details of the issuer, emission allowance market participant, auction
                                   platform, auctioneer or auction monitor
 a)                                Name                                                         Somero Enterprises Inc.
 b)                                LEI                                                          549300OQ2P18NRWBIW58
 8.                                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                                    Employee Share Award
 c)                                Price(s) and volume(s)                                       Price: 485p

                                                                                                Volume: 2,817
 d)                                Aggregated information:                                      n/a

                                   ·      Aggregated volume

                                   ·      Price
 e)                                Date of the transaction                                      15 March 2022
 f)                                Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

 

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