Director/PDMR Shareholding

RNS Number : 3561O

Somero Enterprises Inc.

16 September 2011

 



Press Announcement
FOR IMMEDIATE RELEASE
16 September 2011
Somero Enterprises, Inc ® (the "Company")
DIRECTOR SHAREHOLDING
On 15 September 2011, the Board of the Company approved awards to the following executive directors under the terms of Somero's 2010 Equity Incentive Plan at a price of 10 pence per restricted share unit (RSU) being the closing price on 15 September 2011.
Name	Existing shareholding	Number of RSU awarded
Jack Cooney	3,455,502 shares	327,476 shares
Mike Niemela	108,166 shares	164,212 shares
Additionally, 1,544,856 RSU were granted to 15 other key employees for a total grant of 2,036,544 units.  The number of shares referred to is the maximum available under the grant and the awarded shares will vest over a three-year period beginning on the date of the grant and require continued employment for the period. The participating directors and other key employees will, following the end of the performance period, be notified as to the extent to which the performance conditions have been met and their awards have vested.
Should an award vest then each restricted stock unit will be satisfied by the issue to the employee of one ordinary share in the Company.
The Company's total issued share capital is 56,425,598 ordinary shares.

Enquires: Hawkpoint Partners Limited Chris Robinson / Serge Rissi [phone] Collins Stewart plc Piers Coombs [phone]

 

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