CREST Admission

Somero Enterprises Inc. 29 February 2008 29 February 2008 THIS ANNOUNCEMENT MAY NOT BE RELEASED, PUBLISHED OR DISTRIBUTED IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA OR TO US PERSONS (AS DEFINED IN REGULATION S UNDER THE US SECURITIES ACT OF 1933, AS AMENDED) OR TO RESIDENTS, NATIONALS OR CITIZENS OF CANADA, JAPAN OR AUSTRALIA. Somero Enterprises, Inc. (R) CREST Admission Somero Enterprises, Inc. (R) ('Somero' or the 'Company') is pleased to announce that following its entry today into the CREST system, the Company's shareholders will now, under certain conditions, be able to hold and transfer their common stock in the Company electronically. The Company, using the services of Computershare Investor Services Plc (the ' Depositary'), has established a depository interest facility whereby interests representing shares are issued to shareholders wishing to hold their shares in an electronic format within the CREST system. These interests, known as Depository Interests ('DIs'), are created through a trust deed executed by the Depositary. The underlying shares will continue to be traded, while the DIs are transferred in the CREST system in settlement of those trades. Holders of DIs have the same rights as holders of common shares in the Company. There will be no change to the Company's ISIN number (USU834501038) as a result of this move and both the shares and DIs will be represented by this number. CREST System CREST is an electronic paperless share transfer and settlement system which allows shares and other securities (including DIs) to be held in electronic rather than paper form. The Company expects that entry into CREST will facilitate faster and more efficient trade settlement. Admission to the CREST System Shares will be eligible for settlement through CREST in the form of DI's only if they fulfil certain criteria established by the Company as well as meeting the separate requirements of the CREST system. In order for shareholders of the Company's common stock to be eligible to settle through CREST, they must complete a Declaration Form to certify that their shares are not 'restricted securities' under the regulations of the US Securities and Exchange Commission ('SEC'). For example, in most cases, shares issued by the Company at least 12 months prior to today's date in an offering outside of the US pursuant to SEC Regulation S will no longer be 'restricted securities.' Furthermore, the shareholder must not be (and must not have been in the prior three months) an affiliate of the Company (as discussed below). Shareholders who would like to deposit their shares into the CREST system should contact the Depositary to determine whether their shares are CREST eligible and to obtain a copy of the Declaration Form. Contact details for the Depositary are as follows: Computershare Investor Services (Channel Islands) Limited PO Box 83, Ordnance House 31 Pier Road St Helier JE4 8PW Contact: Nicola Baird / Gemma Barette Tel: +44 1534 825 337 / 825 294 Email: nicola.baird@computershareci.com / gemma.barette@computershareci.com In order to deposit shares into the CREST system, shareholders must submit the completed Declaration Form and the related stock certificate to the Registrar. Provided that the shares are eligible for CREST, the Registrar will issue a new, un-legended stock certificate that will be returned to the submitting shareholder or broker. The shareholder or broker must then submit the un-legended stock certificate together with a CREST Stock Deposit Form to the CREST counter. Any Stock Deposit Form that is submitted with a legended stock certificate will be rejected and returned to the submitting shareholder or broker. Affiliates Directors, executive officers and significant shareholders (generally shareholders who own 10% or more of the outstanding shares) are treated as 'affiliates' under U.S. law and are subject to different restrictions and will not be eligible to deposit their shares in the CREST system at this time. In addition, shares acquired from an affiliate will be 'restricted securities' for a period of 12 months. Affiliates and shareholders that have acquired shares from an affiliate should contact the Company or the Depositary to ensure appropriate handling of any share transfers. Certificated Shares Shareholders who do not wish to deposit their shares into CREST may continue to hold them in certificated form. Further, if a shareholder subsequently wishes to remove shares from the CREST system, certificates representing the shares will be re-issued. Notifiable Interests Shareholders who change through a single percentage (by a way of increase or decrease) their legal or beneficial interests whether direct or indirect, in a holding of shares, where the resultant holding is greater than 3% of the issued share capital of the Company (a notifiable interest) are request to forward details of such notifiable interests to the Company at its offices at 82 Fitzgerald Drive, Jaffrey, New Hampshire 03452, U.S.A., fax: 001-603-532-5930 or email ACartier@somero.com. Stamp Duty Reserve Tax The DIs will be subject to stamp duty reserve tax (SDRT) because they do not meet all the criteria set out for the SRT exemption granted in The Stamp Duty Reserve Tax (UK Depository Interests in Foreign Securities) Regulations 1999 (SI 1999/2383 as amended by SI 2000/1871 and SI 2001/3779). About Somero Somero(R) designs, manufactures and sells equipment that automates the process of spreading and leveling large volumes of concrete for commercial flooring and other horizontal surfaces, such as paved parking lots. Somero's innovative, proprietary products, including the large SXP(R) Laser Screed(R), CopperHead(R) and new Mini ScreedTM employ laser-guided technology to achieve a high level of precision. Its products have been sold primarily to concrete contractors for use in non-residential construction projects in over 50 countries across every time zone around the globe. Laser Screed equipment has been specified for use in constructing warehouses, assembly plants, retail centres and in other commercial construction projects requiring extremely flat concrete slab floors by a variety of companies, such as Costco, Home Depot, B&Q, DaimlerChrysler, various Coca-Cola bottling companies, the United States Postal Service, Lowe's, and Toys 'R' Us. Somero's headquarters are located in New Hampshire, USA. It operates a manufacturing facility in Michigan, USA, and has a sales and service office in Chesterfield, England. Somero has over 150 employees and markets and sells its products through a direct sales force, external sales representatives, and independent dealers in North America, Latin America, Europe, the Middle East, South Africa, Asia and Australia. Somero is listed on the Alternative Investment Market of the London Stock Exchange and its trading symbol is SOM.L. This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase, any securities of the ' Company'. This announcement may not be released, published or distributed in or into the United States, Canada, Japan or Australia or to US Persons (as defined in Regulation S under the US Securities Act of 1933, as amended (the 'US Securities Act')) or to residents, nationals or citizens of Canada, Japan or Australia. The distribution of this announcement in certain other jurisdictions may also be restricted by law and persons into whose possession this announcement or any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. No securities of the Company have been registered under the US Securities Act. No securities of the Company may be offered or sold in the United States or to US persons (as defined in Regulation S under the US Securities Act) except pursuant to an effective registration statement under the US Securities Act or pursuant to an available exemption from the registration requirements under the US Securities Act. No securities of the Company have been registered under the applicable securities laws of Australia, Canada or Japan and may not be offered or sold within Australia, Canada or Japan or to, or for the account or benefit of citizens or residents of Australia, Canada or Japan. ENDS This information is provided by RNS The company news service from the London Stock Exchange
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