REG - Spectra Systems Spectra Systems-SPSC - Exercise of Options and transfer of shares

Spectra SystemsAnnouncement

15/12/2023 16:45

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RNS Number : 0344X  Spectra Systems Corporation  15 December 2023

 

Spectra Systems Corporation

("Spectra" or the "Company")

Exercise of Options and transfer of shares

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 Lawandy, Chief Executive Officer
and Director of Spectra.

Mr. Lawandy has exercised options for over 1,881,063 shares of common stock of
$0.01 each in the Company ("Shares"), with an exercise price 25p per share on
7 December 2023. Mr. Lawandy has elected to utilize the net cashless exercise
feature and has surrendered 209,940 shares to the Company at the prevailing
market price of 224p. on 11 December 2023.  Accordingly, Mr. Lawandy will be
issued a net total of 1,671,123 shares, increasing his interest in the issued
share capital of the Company to the current number 3,918,859 shares,
representing 8.39% of its issued share capital.

Accordingly, the Company has issued and will apply for 1,671,123 Shares to be
admitted to trading on AIM, which is expected to take place on or around 20
December 2023 ("Admission").

In addition, the Company announces the restricted legends have been removed of
Regulation S for an additional 16,324 shares of common stock.

As a result, these share have transferred from the Regulation S stock line
ISIN number USU8457D1091 (AIM:SPSC) into the unrestricted line ISIN number
US84756T1060 (AIM:SPSY).

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

· 711,377 shares in the Regulation S stock line ISIN number USU8457D1091
(AIM:SPSC); and

· 46,018,860 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 46,730,237 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, Chief Executive Officer

 WH Ireland Limited (Nominated Adviser and Broker)       Tel: +44 (0)207 220 1650

 Chris Fielding (Managing Director, 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)

 

 

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