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Director/PDMR Shareholding

16 Sep 2011 07:00

RNS Number : 3561O
Somero Enterprises Inc.
16 September 2011
 



Press Announcement

FOR IMMEDIATE RELEASE

16 September 2011

Somero Enterprises, Inc ® (the "Company")

DIRECTOR SHAREHOLDING

On 15 September 2011, the Board of the Company approved awards to the following executive directors under the terms of Somero's 2010 Equity Incentive Plan at a price of 10 pence per restricted share unit (RSU) being the closing price on 15 September 2011.

 

Name

Existing shareholding

Number of RSU awarded

Jack Cooney

3,455,502 shares

327,476 shares

Mike Niemela

108,166 shares

164,212 shares

Additionally, 1,544,856 RSU were granted to 15 other key employees for a total grant of 2,036,544 units.

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 directors and other key employees will, following the end of the performance period, be notified as to the extent to which the performance conditions have been met and their awards have vested.

Should an award vest then each restricted stock unit will be satisfied by the issue to the employee of one ordinary share in the Company.

The Company's total issued share capital is 56,425,598 ordinary shares.

 

Enquires:

Hawkpoint Partners Limited

Chris Robinson / Serge Rissi

 

+44 020 7665 4500

Collins Stewart plc

Piers Coombs

 

+44 020 7523 8000

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
RDSLFFSIATIELIL

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