Somero Enterprises Inc. Transaction in Own Shares and RSUs (6340S)
March 18 2021 - 2:00AM
UK Regulatory
TIDMSOM
RNS Number : 6340S
Somero Enterprises Inc.
18 March 2021
Somero Enterprises Inc.
("Somero" or the "Company")
Transactions in Own Shares and Restricted Stock Units
Somero announces that on 16 March 2021 it approved the
settlement of 20,840 Restricted Stock Units (RSU's) in exchange for
an equivalent number of common stock shares of the Company at a
price of 370p, reflecting the close price on the day of settlement,
as permitted under the terms of the 2020 Equity Incentive Plan.
Included in this exchange, the following executive Director
received shares:
Existing holding Awarded under
Name of Common Stock the Plan Resulting Shareholding
------------- ----------------- -------------- -----------------------
John Yuncza 125,867 5,000 130,867
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 24 March 2021. The new shares of
common stock will rank pari passu with the existing common stock in
the Company.
In conjunction with this common stock award, the Board of the
Company has approved the cancellation of the equivalent number of
shares held in Treasury.
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 709,601 units and the Company's total issued share capital
will be 56,425,598 with 243,335 shares held in Treasury. Therefore,
the total number of shares with voting rights will be
56,182,263.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
For further information, please contact:
Somero Enterprises, Inc. www.somero.com
Jack Cooney, CEO +1 239 210 6500
John Yuncza, 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/Richard Chambers (Corporate Broking)
Alma PR (Financial PR Advisor) somero@almapr.co.uk
David Ison +44 (0) 2034 050 205
Sam Modlin
Molly Gretton
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Yuncza
------------------------------- ------------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Chief Financial Officer/ 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 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 ordinary shares of $0.001 each ("Ordinary
Financial instrument, Shares")
type of instrument
Identification code SOM
------------------------------- ------------------------------------------
b) Nature of the transaction Employee Share Award
------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price: 3 70 p
Volume: 5,000
------------------------------- ------------------------------------------
d) Aggregated information: n/a
* Aggregated volume
* Price
------------------------------- ------------------------------------------
e) Date of the transaction 16 March 2021
------------------------------- ------------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ------------------------------------------
5. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jesse Aho
------------------------------- ------------------------------------------
6. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Senior Vice-President of Operations
------------------------------- ------------------------------------------
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 ordinary shares of $0.001 each ("Ordinary
Financial instrument, Shares")
type of instrument
Identification code SOM
------------------------------- ------------------------------------------
b) Nature of the transaction Employee Share Award
------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price: 3 70 p
Volume: 668
------------------------------- ------------------------------------------
d) Aggregated information: n/a
* Aggregated volume
* Price
------------------------------- ------------------------------------------
e) Date of the transaction 16 March 2021
------------------------------- ------------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ------------------------------------------
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END
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