Last checked at 21 Mar 2016 07:00
21 March 2016
Somero Enterprises, Inc.
("Somero" or the "Company")
Director/PDMR Shareholding
Mr Jack Cooney, Chief Executive Officer, has notified the Company today that Mr Cooney and his wife, Ellen Cooney, on 18 March 2016 sold 1,400,000 ordinary shares in the Company at a price of 144 pence per share, in order to satisfy a US tax obligation. The 1,400,000 ordinary shares represent 2.49% of the current issued share capital of the Company and approximately half of Mr Cooney's total holding of 2,814,634 ordinary shares. Following completion of the sale, Mr Cooney and his wife remain interested in 1,414,634 ordinary shares, representing 2.52 per cent of the entire issued share capital of Somero.
The US tax legislation obliges Mr and Mrs Cooney to make withdrawals from their current pension plans during 2016, 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 the next 24 months.
For further information, please contact:
Somero Enterprises, Inc. www.somero.com
Jack Cooney, CEO +1 239 210 6500
John Yuncza, CFO
Howard Hohmann, EVP Sales
Canaccord Genuity Ltd (NOMAD and Joint Broker)
Bruce Garrow +44 (0)20 7523 8000
Piers Coombs
Mark Whitmore
finnCap Ltd (Joint Broker)
Matt Goode +44 (0)20 7220 0500
Carl Holmes
Tim Redfern
Redleaf Communications Ltd (Financial PR Advisor) somero@redleafpr.com
Rebecca Sanders-Hewett +44 (0)20 7382 4730
David Ison
Susie Hudson