Transaction in Restricted Stock Units

RNS Number : 6360V

Somero Enterprises Inc.

31 January 2017

 

Somero Enterprises, Inc.

("Somero" or the "Company")

Transaction in Restricted Stock Units (RSUs)

Somero announces that on Monday, 30 January 2017, it approved the settlement in cash of Restricted Stock Units (RSUs) for John T. Cooney and 17 non-director employees. This transaction resulted in 148,088 RSUs being settled for cash at a price per share of 252.5p under the terms of the Somero 2010 Equity Incentive Plan. 

Of the 148,088 RSUs being settled for cash, 59,977 RSUs were held by John T. Cooney, CEO and Executive Director.  

The price and exchange rates used for the cash settlement of the RSUs reflect the closing price and exchange rates on the 3 year vesting date of the RSUs.

After taking into account the above cash settlement of RSU units, there remain outstanding RSUs equal to 260,643 units.

Mr. Cooney's beneficial interest in Somero remains at 1,414,634 ordinary shares, or 2.52% of Somero's total voting rights. 

The Company's total issued ordinary share capital is 56,425,598 shares. The Company holds 221,996 of its shares in Treasury and has 56,203,602 ordinary shares in issue excluding Treasury shares which was unchanged by the above transaction.

Enquiries:
Somero Enterprises, Inc.                                                                              www.somero.com Jack Cooney, CEO                                                                                            [phone] John Yuncza, CFO Howard Hohmann, EVP Sales finnCap Ltd (NOMAD & 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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