PROVIDENCE - Spectra Systems Corporation, known for its banknote authentication and security technologies, has announced that an employee has exercised options over 13,339 shares of common stock. On December 16, 2024, the shares, priced at 25p each, were acquired through a net cashless exercise, which resulted in the surrender of 1,339 shares back to the company.
This transaction will result in the issuance of 12,000 new shares, which are considered restricted securities under Rule 144 of the US Securities Act of 1933. These shares are being issued in accordance with an exemption from registration provided by Rule 701.
Following this event, the company will seek the admission of the 12,000 shares to trading on the AIM market of the London Stock Exchange (LON:LSEG). The expected date for these shares to begin trading is on or around December 24, 2024.
After the exercise of options, Spectra Systems' total issued share capital comprises 571,380 shares in the Regulation S stock line and 47,669,592 shares in the unrestricted line, with no shares held in treasury. Consequently, the total number of shares in the company stands at 48,240,972, which shareholders can use as the denominator for the calculations to determine whether they must disclose changes in their shareholding as per the Financial Conduct Authority’s Disclosure and Transparency Rules.
This financial activity comes as part of the company's ongoing employee incentive programs and reflects the standard procedures for option exercises within publicly traded companies. The information provided is based on a press release statement from Spectra Systems Corporation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.