Source - LSE Regulatory
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

Dr. Nabil Lawandy

 

Tel: +1 (0)401 274 4700

 

WH Ireland Limited

Chris Fielding (Head of Coporate Finance)

Tel: +44 (0)207 220 1650

 

 

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

 

Identification code

Regulation S restricted common stock of US$0.01

 

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

-     Aggregated volume

-     Price

 

63,192 common shares

$0.60 USD

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

 

Identification code

Regulation S restricted common stock of US$0.01

 

USU8457D1091

b)

Nature of the transaction

Exercise of Options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.25 GBP

62,785

d)

Aggregated information

-     Aggregated volume

-     Price

 

62,785 common shares

£0.25 GBP

e)

Date of the transaction

8 September 2020

f)

Place of the transaction

London Stock Exchange

 

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