Spectra Systems Corporation Exercise of Options (0332A)

TIDMSPSY TIDMSPSC

RNS Number : 0332A

Spectra Systems Corporation

21 September 2022

Spectra Systems Corporation

("Spectra" or the "Company")

Exercise of Options

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 an employee of Spectra.

The employee has exercised options over 20,000 shares of common stock of $0.01 each in the Company ("Shares") with an exercise price of 25p per share. The employee has elected to utilize the net cashless exercise feature and has therefore surrendered 3,676 shares to the Company. Accordingly, the employee will be issued 16,324 shares of the Company.

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 16,324 Shares to be admitted to trading on AIM, which is expected to take place on or around 26 September 2022 ("Admission").

Following Admission the Company's issued share capital will comprise:

   --      1,165,154   shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and 
   --   43,845,847   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 45,011,001 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, Chief Executive 
 Officer 
WH Ireland Limited (Nominated Adviser       Tel: +44 (0)207 220 1650 
 and Broker) 
 Chris Fielding (Managing Director, 
 Corporate Finance)                          Tel: +44 (0)20 3328 5665 
 
 Allenby Capital Limited (Joint Broker) 
 Nick Naylor/James Reeve (Corporate 
 Finance) 
 Amrit Nahal (Sales and Corporate Broking)

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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September 21, 2022 02:00 ET (06:00 GMT)

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