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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March 18, 2021 03:00 ET (07:00 GMT)