REG - Spectra Systems Spectra Systems-SPSC - Exercise of Options and Director/PDMR Shareholding

Spectra SystemsAnnouncement

25/05/2022 08:31

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220525:nRSY6680Ma&default-theme=true

RNS Number : 6680M  Spectra Systems Corporation  25 May 2022

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 both Brian McLain, Chief Financial
Officer of Spectra and an employee.

Mr. McLain has exercised options over 212,000 shares of common stock of $0.01
each in the Company ("Shares"), with an exercise price of $0.49 per share. Mr.
McLain has elected to utilize the net cashless exercise feature and has
surrendered 56,762 shares to the Company at the prevailing market price of
$1.83. Accordingly Mr. McLain will be issued a net total of 155,238 shares,
increasing his interest in the issued share capital of the Company to 193,238
shares, representing 0.42% of its issued share capital.

In addition, an employee has exercised options over 19,000 shares of common
stock of $0.01 each in the Company ("Shares"), with an exercise price of 25p
per share. The Company has received US$5,924.17 in respect of this exercise of
options.

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 174,238 Shares to be
admitted to trading on AIM, which is expected to take place on or around 31
May 2022 ("Admission").

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

·1,148,830 shares in the Regulation S stock line ISIN number USU8457D1091
(AIM:SPSC); and

·44,345,847 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 45,494,677 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

Enquiries:

 

 Spectra Systems Corporation                          Tel: +1 (0)401 274 4700

 Dr. Nabil Lawandy, Chief Executive Officer

 WH Ireland Limited (Nominated Adviser and Broker)    Tel: +44 (0)20 7220 1650

 Chris Fielding (Head of Corporate Finance)

 Andrew de Andrade (Executive, Corporate Finance)

 Allenby Capital Limited (Joint Broker)               Tel: +44 (0)20 3328 5665

 Nick Naylor/James Reeve (Corporate Finance)

 Amrit Nahal (Sales and Corporate Broking)

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

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                                                         Brian McLain
 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                                                         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)
                                                                  $0.49 USD  155,238
 d)  Aggregated information

     -     Aggregated volume                                      155,238 common shares

     -     Price                                                  $0.49 USD
 e)  Date of the transaction                                      24 May 2022
 f)  Place of the transaction                                     London Stock Exchange

d)

Aggregated information

-     Aggregated volume

-     Price

 

155,238 common shares

$0.49 USD

e)

Date of the transaction

24 May 2022

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
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHQZLFLLELLBBQ