Last checked at 22 Jan 2015 15:05
Somero Enterprises, Inc ® (the "Company")
22 January 2015
Director Shareholding
On 21 January 2015, the Board of the Company approved awards to the following executive Director under the terms of Somero's 2010 Equity Incentive Plan at a price of 124 pence per restricted share unit (RSU) being the closing price on 21 January 2015.
Name Existing Shareholding Number of RSU awarded
Jack Cooney 2,814,634 shares 64,271
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 Director will, following the end of the performance period, be notified as to the extent to which the performance conditions have been met and their award has vested.
Unless determined otherwise by the administrator of the scheme, each Restricted Stock Unit will be equal to one ordinary share in the Company and will entitle the Director to either ordinary shares or an amount of cash determined with reference to the value of ordinary shares at the discretion of the Company.
The Company's total issued share capital is 56,425,598 ordinary shares.
Enquiries:
Somero Enterprises, Inc. Tel: 239 210 6500
Jack Cooney, CEO
Neil Mathur, CFO
Canaccord Genuity Limited Tel: +44 20 7523 8000
Chris Robinson
Piers Coombs
Peter Stewart