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

Spectra SystemsAnnouncement

11/01/2024 07:00

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RNS Number : 2967Z  Spectra Systems Corporation  11 January 2024

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  Donald Stanford, Non-Executive Director
of Spectra and an employee of Spectra.

Mr. Stanford has exercised options over 100,000 shares of common stock of
$0.01 each in the Company ("Shares") with an exercise price of 25p per share
on 8 January 2024. Mr. Stanford has elected to utilize the net cashless
exercise feature and has therefore surrendered 11,161 shares to the Company.
Accordingly, Mr. Stanford will be issued 88,839 shares, increasing his
interest in the issued share capital of the Company to 88,839 shares,
representing 0.26% of its issued share capital. 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.

In addition, an employee has exercised options over 40,000 shares of common
stock of $0.01 each in the Company ("Shares") with an exercise price of 25p
per share on 3 January 2024. The employee has elected to utilize the net
cashless exercise feature and has therefore surrendered 4,405 shares to the
Company. The employee will be issued 35,595 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 124,434 shares to be
admitted to trading on AIM, which is expected to take place on or around 17
January 2024 ("Admission").

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

·    849,811 shares in the Regulation S stock line ISIN number
USU8457D1091 (AIM:SPSC); and

·    46,966,354 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 47,816,165 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: +1 (0)401 274 4700

 Dr. Nabil Lawandy

 WH Ireland Limited                                Tel: +44 (0)207 220 1650

 Chris Fielding (DeputyHead 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                                                         Donald Stanford
 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)
                                                                  £0.25     88,839
 d)  Aggregated information

     -     Aggregated volume                                      88,839 common shares

     -     Price                                                  25 pence
 e)  Date of the transaction                                      8 January 2024
 f)  Place of the transaction                                     London Stock Exchange

d)

Aggregated information

-     Aggregated volume

-     Price

 

88,839 common shares

25 pence

e)

Date of the transaction

8 January 2024

f)

Place of the transaction

London Stock Exchange

 

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