Last checked at 15 May 2020 17:24
Spectra Systems Corporation
("Spectra Systems" or the "Company")
Exercise of Options and Removal of Regulation S Restrictions
Spectra Systems announces that an employee has recently exercised options over 10,000 shares of common stock of $0.01 each in the Company ("Shares"). The Shares are restricted securities as defined in Rule 144 of the US Securities Act of 1933 and have been or will be issued pursuant to an exemption from registration under Rule701 promulgated under the US Securities Act of 1933.
Accordingly the Company will apply for 10,000 Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on 21 May 2020 ("Admission").
The Company further announces that restrictive legends have been removed from a further 33,869 shares of common stock of the Company. As a result, these share have transferred from the Regulation S stock line ISIN number USU8457D1091 (AIM: SPSC) into the unrestricted line ISIN number US84756T1060 (AIM: SPSY)
Following Admission the Company's issued share capital will comprise:
566,455 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and
45,241,176 shares in the unrestricted line ISIN number US84756T1060 (AIM:SPSY).
Spectra Systems has no Shares in treasury, therefore 45,807,631 may be used by shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Enquiries:
Spectra Systems Corporation
Dr. Nabil Lawandy, Chief Executive Officer Tel: +1 (0) 401 274 4700
WH Ireland Limited
Chris Fielding, Managing Director, Corporate Finance Tel: +44 (0) 20 7220 1650