Somero Enterprises : Transaction in Restricted Stock Units
March 29, 2019 at 03:11 am EDT
Share
Somero Enterprises, Inc.
('Somero' or the 'Company')
Transaction in Restricted Stock Units (RSUs)
Somero announces that on Thursday, 28 March 2019, it approved the settlement of Restricted Stock Units (RSUs) for John Yuncza, Executive Director as well as non-executive, non-director managers eligible under the Somero 2010 Equity Incentive Plan. This transaction resulted in 128,215 RSUs being settled for cash at a price per share of 350.00p and 10,640 RSUs converted to common stock in the Company by eligible managers under the terms of the Somero 2010 Equity Incentive Plan.
The price and exchange rates used for the settlement of the RSUs reflect the closing price and exchange rates on the 3-year vesting date of the RSUs.
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 5 April 2019. The new shares of common stock will rank pari passuwith the existing common stock in the Company.
Following the above transactions, total outstanding RSUs will equal 488,651 units and the Company's total issued share capital will be 56,425,598 with 87,256 shares held in Treasury. Therefore, the total number of shares with voting rights will be 56,338,342.
Enquiries:
Somero Enterprises, Inc.www.somero.com
Jack Cooney, CEO
John Yuncza, CFO
Howard Hohmann, EVP Sales
finnCap Ltd (NOMAD & Broker)
Matt Goode (Corporate Finance) +44 (0)20 7220 0500
Carl Holmes (Corporate Finance)
Kate Bannatyne (Corporate Finance)
Tim Redfern/Richard Chambers (ECM)
Alma PR (Financial PR Advisor)
Rebecca Sanders-Hewett +44 (0)20 3865 9667
Susie Hudson somero@almapr.co.uk
Sam Modlin
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
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 Financial instrument, type of instrument
ordinary shares of $0.001 each ('Ordinary Shares')
Identification code
SOM
b)
Nature of the transaction
Equity Incentive Programme
c)
Price(s) and volume(s)
Price: 350p
Volume: 7,500
d)
Aggregated information:
· Aggregated volume
· Price
n/a
e)
Date of the transaction
28 March 2019
f)
Place of the transaction
London Stock Exchange, AIM Market (XLON)
Attachments
Original document
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Disclaimer
Somero Enterprise Inc. published this content on 29 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 March 2019 07:10:11 UTC
Somero Enterprises, Inc. designs, assembles, remanufactures, sells, and distributes concrete leveling, contouring and placing equipment, related parts and accessories, and training services around the world. Its products are machinery used in the process of horizontal concrete placement. Its product categories include Lightweight Screeds, Ride-on Laser Concrete Screeds, Boom Screeds, Skyline Stationary Laser Screeds, Materials Placement, and Software Packages. Its Lightweight Screeds include Mini Screed C and CopperHead XD 3.0. Its Ride-on Laser Concrete Screeds consist of S-485 Laser Screed and S-940 Laser Screed. Its Boom Screeds include S-28EZ Laser Screed, S-PS50 Laser Screed, and others. Its Skyline Stationary Laser Screeds consist of SkyScreed 36 (SkyStrip). Its Materials Placement includes Broom + Cure Machine, Somero LineDragon, and STS-11M Topping Spreader. Its software packaging includes 3-D Concrete Profiler System, SiteShape System, and Somero Floor Levelness System.