Proposed Secondary Placing of Existing Shares

RNS Number : 3736U
Somero Enterprises Inc.
28 March 2019
 

 

Somero Enterprises Inc.

 

("Somero" or the "Company")

 

Proposed Secondary Placing of Ordinary Shares in Somero

 

Somero announces that it has been advised by Jack Cooney, CEO of the Company (the "Seller"), that he intends to sell approximately 800,000 ordinary shares of $0.001 each in the Company (the "Placing Shares"), at a price of 340 pence per share. The Placing Shares represent approximately 1.42 per cent. of the voting rights of Somero.

 

The US tax legislation obliges Mr. Cooney to make withdrawals from his current pension plans during 2019, the assets of which consist solely of Somero shares.

 

Following this sale, Mr. Cooney has agreed with the Company that he will not dispose of any of his remaining shareholding, for a period of at least 24 months.

 

A further announcement will be made shortly.

  

 

For further information, please contact:

 

Somero Enterprises, Inc.                                                         www.somero.com

Jack Cooney, CEO                                                                   

John Yuncza, CFO

Howard Hohmann, EVP Sales

 

finnCap Ltd (NOMAD and 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)                                            somero@almapr.co.uk

Rebecca Sanders-Hewett                                                         +44 (0) 2038 659 667

Susie Hudson

Sam Modlin

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
IOESESFIAFUSEFD
UK 100

Latest directors dealings