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 BJ Penn, Non-Executive Chairman of Spectra and Brian McLain, Chief Financial Officer of Spectra.
Chairman Penn has exercised options over 60,000 shares of common stock of $0.01 each in the Company ("Shares"), with an exercise price of $0.60 per share. Chairman Penn has elected to pay cash for 25,000 options and to utilize the net cashless exercise feature for the remaining 35,000 options and has therefore paid the Company US$15,000 and surrendered 8,031 shares to the Company in respect of this exercise of options. Accordingly Chairman Penn will be issued 51,969 shares, increasing his interest in the issued share capital of the Company to 107,436 shares, representing 0.24% of its issued share capital.
Mr. McLain has exercised options over 38,000 shares of common stock of $0.01 each in the Company ("Shares"), with an exercise price of $0.49 per share. The Company has received US$18,620 in respect of this exercise of options. Accordingly Mr. McLain will be issued 38,000 shares, increasing his interest in the issued share capital of the Company to 38,000 shares, representing 0.08% of its issued share capital
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 89,969 Shares to be admitted to trading on AIM, which is expected to take place on or around 9 April 2021 ("Admission").
Following Admission the Company's issued share capital will comprise:
· 985,496 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and
· 44,534,239 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 45,519,735 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
Enquiries:
| Spectra Systems Corporation Dr. Nabil Lawandy
| Tel: +1 (0)401 274 4700
|
| WH Ireland Limited Chris Fielding (Head of Corporate Finance) | Tel: +44 (0)207 220 1650
|
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014.
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 | Buddie J Penn | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non-Executive Chairman | ||||
| 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) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
51,969 common shares $0.60 USD | ||||
| e) | Date of the transaction | 1 April 2021 | ||||
| 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 | Brian McLain | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Financial 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) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
38,000 common shares $0.49 USD | ||||
| e) | Date of the transaction | 1 April 2021 | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
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