TIDMSPSY TIDMSPSC

RNS Number : 2967Z

Spectra Systems Corporation

11 January 2024

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 Donald Stanford, Non-Executive Director of Spectra and an employee of Spectra.

Mr. Stanford has exercised options over 100,000 shares of common stock of $0.01 each in the Company ("Shares") with an exercise price of 25p per share on 8 January 2024. Mr. Stanford has elected to utilize the net cashless exercise feature and has therefore surrendered 11,161 shares to the Company. Accordingly, Mr. Stanford will be issued 88,839 shares, increasing his interest in the issued share capital of the Company to 88,839 shares, representing 0.26% 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.

In addition, an 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 3 January 2024. The employee has elected to utilize the net cashless exercise feature and has therefore surrendered 4,405 shares to the Company. The employee will be issued 35,595 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 124,434 shares to be admitted to trading on AIM, which is expected to take place on or around 17 January 2024 ("Admission").

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

   --    849,811 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and 
   --    46,966,354 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 47,816,165 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 
WH Ireland Limited                                Tel: +44 (0)207 220 1650 
 Chris Fielding (DeputyHead of Coporate Finance)

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                                                          Donald Stanford 
     ------------------------------------------------------------  ------------------------------------------------ 
 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   Regulation S restricted common stock of US$0.01 
 
       Identification code                                           USU8457D1091 
     ------------------------------------------------------------  ------------------------------------------------ 
 b)   Nature of the transaction                                     Exercise of Options 
     ------------------------------------------------------------  ------------------------------------------------ 
 c)   Price(s) and volume(s)                                         Price(s)    Volume(s) 
                                                                      GBP0 .25    88,839 
                                                                                 ---------- 
     ------------------------------------------------------------  ------------------------------------------------ 
 d)    Aggregated information 
         *    Aggregated volume                                                  88,839 common shares 
                                                                                 25 pence 
 
         *    Price 
     ------------------------------------------------------------  ------------------------------------------------ 
 e)   Date of the transaction                                       8 January 2024 
     ------------------------------------------------------------  ------------------------------------------------ 
 f)   Place of the transaction                                      London Stock Exchange 
     ------------------------------------------------------------  ------------------------------------------------

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END

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January 11, 2024 02:00 ET (07:00 GMT)

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