Business
Exercise of Options & Removal of Reg S
Exercise of Options & Removal of Reg S.
About this update from Spectra Systems Corporation
[{"type":"text","content":"\n\nSpectra Systems Corporation\n(the \"Company\")\nExercise of Options & Removal of Reg S Restrictions\nSpectra 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.\nThe employee has exercised options over 40,000 shares of common stock of $0.01 each in the Company (\"Shares\") with an exercise price of 25p per share on 5 March 2025. The employee has elected to utilize the net cashless exercise feature and has therefore surrendered 4,274 shares to the Company. Accordingly, the employee will be issued 35,726 shares.\nThe 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.\nAccordingly, the Company has issued and will apply for 35,726 Shares to be admitted to trading on AIM, which is expected to take place on or around 14 April 2025 (\"Admission\").\nThe Company further announces that restrictive legends have been removed from a further 88,839 shares of common stock of the Company. As a result, these shares have transferred from the Regulation S stock line ISIN number USU8457D1091 (AIM: SPSC) into the unrestricted line ISIN number US84756T1060 (AIM: SPSY)\nThe Company's issued share capital now comprises:\n530,271 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and\n47,758,431 shares in the unrestricted line ISIN number US84756T1060 (AIM:SPSY).\nSpectra Systems has no Shares in treasury, therefore 48,288,702 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.\nEnquiries:\n \n \n\n\n\n\nSpectra Systems Corporation\nDr. Nabil Lawandy, Chief Executive Officer\n \n\n\nTel: +1 (0)401 274 4700\n \n\n\n\n\nZeus (Nominated Adviser and Broker)\nJames Joyce (Director)\nJames Bavister (Assistant Director)...