SRT Marine Systems PLC Closing of PrimaryBid Offer & Total Voting Rights (9834I)
07 Aprile 2020 - 8:00AM
UK Regulatory
TIDMSRT
RNS Number : 9834I
SRT Marine Systems PLC
07 April 2020
SRT MARINE SYSTEMS PLC
(AIM: SRT)
("SRT" or the "Company")
Closing of PrimaryBid Offer & Total Voting Rights
SRT, the global provider of maritime surveillance, vessel
tracking, monitoring, management and safety systems, announces that
further to the Placing and PrimaryBid Offer announcements made
yesterday at 17:00 and 17:01, respectively, the PrimaryBid Offer
has closed, raising proceeds of GBP302,005 through the issuance of
1,208,020 new Ordinary Shares. Together with the Placing and the
Loan Notes the Company has raised GBP2.8 million (consisting of
GBP1.8 million of Equity and GBP1 million of Loan Notes).
Application has been made for the new Ordinary Shares to be
Admitted to trading on the AIM market of the London Stock Exchange.
Settlement for the new Ordinary Shares and Admission is expected to
take place at 8.00 a.m. on 1 4 April 2020. The Placing is
conditional, inter alia, upon Admission becoming effective and the
Placing Agreement between the Company and finnCap not being
terminated in accordance with its terms.
7,208,020 million new Ordinary Shares will be issued in regard
to the Placing and PrimaryBid Offer. These represent 4.66 per cent
of the Company's existing issue share capital.
Following Admission the Company's issued share capital will
comprise of 162,051,939 Ordinary Shares, with no Ordinary Shares
held in treasury. Therefore the total number of Ordinary Shares in
the Company with voting rights will be 162,051,939 . This figure
may be used by shareholders in the Company as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in, the
share capital of the Company under the FCA's Disclosure Guidance
and Transparency Rules.
Defined terms used in this announcement hold the same meaning as
those used in yesterday's Placing announcement, unless otherwise
specified. The Appendix within yesterday's Placing announcement
sets out further information relating to the Placing and the terms
and conditions of the Placing.
Simon Tucker, CEO of SRT said: "I am very pleased that
PrimaryBid has enabled us to include retail investors across the UK
in our fund raising. This excellent outcome demonstrates that even
in the current extraordinary times if given the opportunity UK
retail investors are looking to back companies like SRT."
Contacts:
SRT Marine Systems plc www.srt-marine.com
+ 44 (0) 1761 409500
Simon Tucker (CEO) simon.tucker@s rt-marine.com
Louise Coates (Marketing Manager) louise.coates@s rt-marine.com
finnCap Ltd
Jonny Franklin-Adams / Teddy Whiley (Corporate
Finance) +44 (0) 20 7220 0500
Tim Redfern (Equity Capital Markets)
About SRT Marine Systems plc:
SRT develops, manufactures and supplies maritime surveillance
and vessel tracking technologies, products and systems. The
Company's products and solutions are used by individual vessel
owners, port authorities, maritime infrastructure owners, coast
guards, fishery agencies and other national security agencies to
enhance their maritime domain awareness, monitoring and management
capabilities. Applications include the tracking of commercial and
leisure vessels; sustainable fishery; anti-collision; search and
rescue; waterway management, port and coast security; pollution
management; and environmental management.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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