TIDMSPSY TIDMSPSC
RNS Number : 5453Y
Spectra Systems Corporation
10 September 2020
Spectra Systems Corporation
("Spectra" or the "Company")
Exercise of Options and Director/PDMR Shareholding
Spectra Systems Corporation, a leader in machine-readable high
speed banknote authentication, brand protection technologies, and
gaming security software, announces the exercise of options by
Nabil M. Lawandy, Chief Executive Officer of Spectra, Martin Jaskel
a Director of Spectra and an employee of Spectra.
Dr. Lawandy has exercised options over 90,416 shares of common
stock of $0.01 each in the Company ("Shares"), of which he has
surrendered 27,224 shares to the Company under the net cashless
exercise feature of the options. Accordingly Dr. Lawandy will be
issued 63,192 shares, increasing his interest in the issued share
capital of the Company to 2,247,736 shares, representing 4.95%
percent of its issued share capital.
Mr. Jaskel has exercised options over 75,000 shares of common
stock of $0.01 each in the Company ("Shares"), of which he has
surrendered 12,215 shares to the Company under the net cashless
exercise feature of the options. Accordingly Mr. Jaskel will be
issued 62,785 shares, increasing his interest in the issued share
capital of the Company to 72,745 shares, representing 0.16% of its
issued share capital
An employee has exercised options over 20,600 shares of common
stock of $0.01 each in the Company ("Shares"), of which he has
surrendered 6,203 shares to the Company under the net cashless
exercise feature of the options. Accordingly the employee will be
issued 14,397 shares
The shares being issued are restricted securities as defined in
Rule 144 of the US Securities Act of 1933 and have been issued
pursuant to an exemption from registration under Rule 701
promulgated under the US Securities Act of 1933.
Accordingly the Company has issued and will apply for 140,374
Shares to be admitted to trading on AIM, which is expected to take
place on or around 15 September 2020 ("Admission").
Following Admission the Company's issued share capital will
comprise:
-- 671,159 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and
-- 44,731,846 shares in the unrestricted line ISIN number US84756T1060 (AIM:SPSY).
In accordance with the provisions of the Disclosure Guidance and
Transparency Rules of the FCA ("DTRs"), the issued share capital of
Spectra upon Admission is 45,403,005 shares with voting rights
attached (one vote per share). There are no shares held in
treasury, therefore this figure may be used by shareholders as the
denominator for the calculation by which they will determine
whether they are required to notify their interest in, or a change
to their interest in, Spectra under the DTRs.
Enquiries:
Spectra Systems Corporation Tel: +1 (0)401 274 4700
Dr. Nabil Lawandy
WH Ireland Limited Tel: +44 (0)207 220 1650
Chris Fielding (Head of Coporate Finance)
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Nabil M. Lawandy
------------------------------------------------------------ ------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------------------------------------ ------------------------------------------------
b) Initial notification/ Amendment Initial notification
------------------------------------------------------------ ------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--------------------------------------------------------------------------------------------------------------
a) Name Spectra Systems Corporation
------------------------------------------------------------ ------------------------------------------------
b) LEI 21380047EWJYQG53D640
------------------------------------------------------------ ------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
--------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Regulation S restricted common stock of US$0.01
Identification code
USU8457D1091
------------------------------------------------------------ ------------------------------------------------
b) Nature of the transaction Exercise of Options
------------------------------------------------------------ ------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
$0.60 USD 63,192
----------
------------------------------------------------------------ ------------------------------------------------
d) Aggregated information 63,192 common shares
* Aggregated volume $0.60 USD
* Price
------------------------------------------------------------ ------------------------------------------------
e) Date of the transaction 8 September 2020
------------------------------------------------------------ ------------------------------------------------
f) Place of the transaction London Stock Exchange
------------------------------------------------------------ ------------------------------------------------
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Martin Jaskel
------------------------------------------------------------ ------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------------------------------
a) Position/status Non-executive Director
------------------------------------------------------------ ------------------------------------------------
b) Initial notification/ Amendment Initial notification
------------------------------------------------------------ ------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--------------------------------------------------------------------------------------------------------------
a) Name Spectra Systems Corporation
------------------------------------------------------------ ------------------------------------------------
b) LEI 21380047EWJYQG53D640
------------------------------------------------------------ ------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
--------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Regulation S restricted common stock of US$0.01
Identification code
USU8457D1091
------------------------------------------------------------ ------------------------------------------------
b) Nature of the transaction Exercise of Options
------------------------------------------------------------ ------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.25 GBP 62,785
----------
------------------------------------------------------------ ------------------------------------------------
d) Aggregated information 62,785 common shares
* Aggregated volume GBP0.25 GBP
* Price
------------------------------------------------------------ ------------------------------------------------
e) Date of the transaction 8 September 2020
------------------------------------------------------------ ------------------------------------------------
f) Place of the transaction London Stock Exchange
------------------------------------------------------------ ------------------------------------------------
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END
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