Transaction in Restricted Stock Units (RSUs)

RNS Number : 9659R

Somero Enterprises Inc.

14 March 2016

 

14 March 2016

Somero Enterprises, Inc.

("Somero" or the "Company")

Transaction in Restricted Stock Units (RSUs)

Somero announces that it has approved the settlement in cash of Restricted Stock Units (RSUs) for three Directors effective Monday, 14 March 2016.  These transactions resulted in 159,585 RSUs being settled for cash at a price per share of 150p under the terms of the Somero 2010 Equity Incentive Plan. 

Of the 159,585 RSUs being settled for cash, 149,046 RSUs were held by John T. Cooney, CEO and Executive Director; 6,148 RSUs were held by Lawrence Horsch, Non-Executive Director; and 4,391 RSUs were held by Thomas Anderson, Non-Executive Director.  The price and exchange rates used for the cash settlement of the RSUs reflect the closing price and exchange rates on 11 March 2016. 

After taking into account the above cash settlement of RSU units, there remain outstanding RSUs equal to 264,316 units.  The above transactions resulted in no change to the holdings in ordinary shares of Somero common stock of any of the Directors listed above.  The Company's total issued ordinary share capital is 56,425,598 shares. The Company holds 318,866 of its shares in Treasury and has 56,106,732 ordinary shares in issue excluding Treasury shares which was also unchanged by the above transaction.

Enquiries:

Somero Enterprises, Inc.                                                                              www.somero.com Jack Cooney, CEO                                                                                            [phone] John Yuncza, CFO Howard Hohmann, EVP Sales Canaccord Genuity Ltd (NOMAD and Joint Broker) Bruce Garrow                                                                                                  [phone] Piers Coombs Mark Whitmore finnCap Ltd (Joint Broker) Matt Goode (Corporate Finance)                                                              [phone] Carl Holmes (Corporate Finance) Tim Redfern (Corporate Broking) Redleaf Communications Ltd (Financial PR Advisor)                      [e-mail] Rebecca Sanders-Hewett                                                                            [phone] David Ison Susie Hudson

 

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