REG - SRT Marine Systems - Exercise of Options, PDMR Dealings & TVR
RNS Number : 3698MSRT Marine Systems PLC11 May 2020
SRT MARINE SYSTEMS PLC
("SRT" or the "Company")
Exercise of Options, PDMR Dealings and Total Voting Rights
SRT Marine Systems PLC (SRT), a global provider of maritime surveillance, monitoring and management systems, announces that it was notified on 7 May 2020 Simon Tucker, Chief Executive Officer of the Company, has exercised share options ("Share Options") over a total of 2,200,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a strike price of £0.09 pence each.
Subsequently on 7 May 2020, Mr Tucker, sold 1,100,000 Ordinary Shares to finance the direct exercise share purchase costs of £198,000 and associated tax liabilities. The completion of the transaction will result in the Company receiving £198,000 in cash and Mr Tucker's share ownership in SRT increasing to 2,707,440 million ordinary shares.
Details of the Share Options and Sale are as follows:
Name
No. of Share Options exercised
Exercise price
No. of Ordinary Shares sold
Price at which Ordinary Shares were sold
Resultant number of Ordinary Shares held
Resultant interest in Ordinary Shares following Admission
Simon Tucker
2,200,000
9p
1,100,000
32p
2,707,440
1.64%
Application will be made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to take place at 8.00 a.m. on 14 May 2020.
Following Admission, there will be 164,251,939 Ordinary Shares in issue with each Ordinary Share carrying the right to one vote. This is the total voting rights figure which may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
For further information, please contact:
SRT Marine Systems plc
+ 44 (0) 1761 409500
Simon Tucker (CEO)
Louise Coates (Marketing Manager)
finnCap Ltd
Jonny Franklin-Adams / Teddy Whiley (Corporate Finance)
+44 (0) 20 7220 0500
Tim Redfern / Richard Chambers (ECM)
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.
1.
Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")
a)
Name
Simon Tucker
2.
Reason for the notification
a)
Position / status
Chief Executive Officer
b)
Initial notification / amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
SRT Marine Systems Plc
b)
Legal Entity Identifier
2138002DF3KFXL472938
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
Ordinary shares of 0.1 pence each in the Company
GB00B0M8KM36
b)
Nature of the transaction
Exercise of Share Options over Ordinary Shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Exercise price of 9p
2,200,000 Ordinary Shares
d)
Aggregated information
- Aggregated volume
- Aggregated price
n/a
n/a
e)
Date of the transaction(s)
7 May 2020
f)
Place of the transaction
Outside a trading venue
1.
Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")
a)
Name
Simon Tucker
2.
Reason for the notification
a)
Position / status
Chief Executive Officer
b)
Initial notification / amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
SRT Marine Systems Plc
b)
Legal Entity Identifier
2138002DF3KFXL472938
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
Ordinary shares of 0.1 pence each in the Company
GB00B0M8KM36
b)
Nature of the transaction
Sale of Ordinary Shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
32p
1,100,000 Ordinary Shares
d)
Aggregated information
- Aggregated volume
- Aggregated price
1,100,000
32p
e)
Date of the transaction(s)
7 May 2020
f)
Place of the transaction
London Stock Exchange, AIM
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.ENDDSHGPUBGAUPUPGU
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