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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Somero Enterprises, Inc.    SOM

SOMERO ENTERPRISES, INC.

(SOM)
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Somero Enterprises : Annual Report, AGM Notice & QCA CG Code Adoption

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04/16/2020 | 03:11am EDT

16 April 2020

Somero Enterprises, Inc.

('Somero' or the 'Company')

Annual Report and Notice of AGM and

Adoption of Quoted Companies Alliance Corporate Governance Code

Somero Enterprises, Inc., the North American manufacturer of patented, Laser Screed®equipment that automates the process of spreading and leveling volumes of concrete for commercial flooring and other horizontal surfaces, is pleased to announce that, pursuant to AIM Rule 20, its Annual Report and Accounts for the Financial Year ending 31 December 2019 ('Annual Report') will today be posted to shareholders of record as at 13 April 2020, along with the Notice of Somero's Annual General Meeting. The Annual Report is available to be viewed on the Company's website at https://investors.somero.com/about-somero/reports-results-and-presentations/2020.

Please note, in response to the rapidly evolving COVID-19 pandemic and the dramatic increase in pressure on Somero's non-China markets, the Company provided an update on 30 March 2020 announcing the cancellation of the US$ 1.0m share buy-back, the postponement of the 30 April 2020 dividend payments, and the withdrawal of guidance for FY2020 as outlined in the 11 March 2020 final results. As a result of the change in outlook, certain views expressed in those results, including in the chairman's and chief executive's statements which are reproduced unedited in the Annual Report, are no longer reflective of the current situation. The Annual Report should therefore be read together with the 30 March 2020 update.

The Annual General Meeting of the Company will be held at 9:00 a.m. local time on 9 June 2020, at 14530 Global Parkway, Fort Myers, Florida 33913 USA and via webcast. Anyone wishing to participate via webcast can register to do so via instructions to be found no later than 26 May 2020 on the Company's website at https://investors.somero.com/.

Somero further announces that, pursuant to details provided in its Final Results announcement of 11 March 2020, it has adopted the Quoted Companies Alliance Corporate Governance Code in substitution for the UK Corporate Governance Code 2018. This substitution has taken effect as of 15 April 2020, details of which can be found here https://investors.somero.com/aim-rule-26.

Enquiries:

Somero Enterprises, Inc.

Jack Cooney, CEO

John Yuncza, CFO

Howard Hohmann, EVP Sales

www.somero.com

finnCap Ltd (NOMAD & Broker)

Matt Goode (Corporate Finance)

Carl Holmes (Corporate Finance)

Kate Bannatyne (Corporate Finance)

Tim Redfern/Richard Chambers (ECM)

+44 (0)20 7220 0500

Alma PR (Financial PR Advisor)

Rebecca Sanders-Hewett

Susie Hudson

Sam Modlin

+44 (0)20 3405 0205

somero@almapr.co.uk

Disclaimer

Somero Enterprise Inc. published this content on 16 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 April 2020 06:10:02 UTC


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Financials (USD)
Sales 2020 82,7 M - -
Net income 2020 12,9 M - -
Net Debt 2020 1,25 M - -
P/E ratio 2020 13,3x
Yield 2020 5,73%
Capitalization 172 M 172 M -
EV / Sales 2020 2,09x
EV / Sales 2021 2,14x
Nbr of Employees 179
Free-Float 98,4%
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Consensus
 
Mean consensus -
Number of Analysts 1
Average target price 3,32 $
Last Close Price 3,05 $
Spread / Highest target 8,88%
Spread / Average Target 8,88%
Spread / Lowest Target 8,88%
EPS Revisions
Managers
NameTitle
John T. Cooney President, Chief Executive Officer & Director
Lawrence L. Horsch Non-Executive Chairman
John H. Yuncza Chief Financial Officer, Secretary & Director
Thomas M. Anderson Independent Non-Executive Director
Howard Hohmann Executive Director & EVP-Sales Worldwide