REG - Spectra Systems Spectra Systems-SPSC - Exercise of Options

Spectra SystemsAnnouncement

06/04/2023 07:00

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RNS Number : 5589V  Spectra Systems Corporation  06 April 2023

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 40,000 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 5,479 shares to the Company. Accordingly, the employee
will be issued 34,521 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 34,521 Shares to be
admitted to trading on AIM, which is expected to take place on or around 14
April 2023 ("Admission").

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

·     1,091,897 shares in the Regulation S stock line ISIN number
USU8457D1091 (AIM:SPSC); and

·   43,967,217 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 45,059,114 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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