Last checked at 26 Jan 2015 13:30
26 January 2015
Somero Enterprises, Inc ® (the "Company")
Director Shareholding
On 23 January 2015, the Board of the Company approved awards to the following non-executive Directors under the terms of Somero's 2010 Equity Incentive Plan at a price of 123.5 pence per restricted share unit (RSU) being the closing price on 23 January 2015.
Name Existing Shareholding Number of RSU's awarded
Lawrence Horsch 152,000 shares 9,312 shares
Ronald Maskalunas - 6,650 shares
Thomas Anderson - 6,650 shares
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 service for the period.
The participating Directors 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 each 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