REG - SRT Marine Systems - Result of Oversubscribed Placing

SRT Marine SystemsAnnouncement

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RNS Number : 2831A  SRT Marine Systems PLC  14 April 2026

 

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED WITHIN IT (THIS
"ANNOUNCEMENT") IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES,  AUSTRALIA,
CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH
SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL ("RESTRICTED
JURISDICTION").

 

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE AN OFFER IN ANY RESTRICTED JURISDICTION.

 

Capitalised terms not otherwise defined herein shall have the meanings given
to them in the announcement made by SRT Marine Systems plc on 13 April 2026 at
4:35 p.m. (the "Launch Announcement"), unless the context requires otherwise.

 

 

For immediate release

SRT MARINE SYSTEMS PLC

("SRT" or the "Group")

 

Result of Oversubscribed Placing

 

SRT Marine Systems plc (AIM: SRT), the AIM-quoted developer and supplier of
sovereign civil defence maritime intelligence and surveillance systems, and
navigation safety and efficiency solutions, is pleased to announce that
further to the Launch Announcement, the Accelerated Bookbuild has closed. Due
to significant over-demand, the Company has conditionally raised gross
proceeds of approximately £16.0 million through the successful placing of
17,682,927 Placing Shares and 1,829,268 Subscription Shares, each at the Issue
Price of 82 pence per New Ordinary Share.

 

In addition to the Placing and the Subscription, the Company is also providing
Retail Investors with the opportunity to subscribe for an aggregate of up to
1,219,512 Retail Shares at the Issue Price, to raise up to approximately £1.0
million (before expenses). The Retail Offer is due to close at 12:00 p.m. on
15 April and the results of the Retail Offer will be announced separately
thereafter.

Assuming full uptake of the Retail Offer, the gross proceeds of the
Fundraising are expected to be up to approximately £17.0 million (before
expenses) through the issuance of up to 20,731,707 New Ordinary Shares.
Following Admission, the enlarged share capital is expected to be 272,352,363
Ordinary Shares ("Enlarged Share Capital"). The New Ordinary Shares will
represent approximately 7.61 per cent. of the Enlarged Share Capital and the
Existing Ordinary Shares will represent approximately 92.39 per cent. of the
Enlarged Share Capital.

 

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

                                                                                 2026
 Announcement Results of Retail Offer                                            15 April
 Admission and commencement of dealings in the New Ordinary Shares on AIM, and   17 April
 Settlement Date
 New Ordinary Shares in uncertificated form expected to be credited to accounts  17 April
 in CREST (uncertificated holders only)
 Expected date of dispatch of definitive share certificates for the New          Within 10 business days of Admission
 Ordinary Shares in certificated form (certificated holders only)
 Long Stop Date                                                                  29 May

 

 Notes

1.     Each of the times and dates in the above timetable is subject to
change at the absolute discretion of the Company (with the agreement of
Cavendish). If any of the above times and/or dates change, the revised times
and/or dates will be notified to Shareholders by way of an announcement
through a Regulatory Information Service.

2.     References to time in this document are to London time.

 

Admission

 

The Placing, Subscription and Retail Offer are conditional upon, inter alia,
Admission becoming effective.

 

The New Ordinary Shares will, when issued, be credited as fully paid and rank
pari passu with the Existing Ordinary Shares.

Application will be made to the London Stock Exchange for the New Ordinary
Shares to be admitted to trading on AIM and, subject to the Placing Agreement
not having been terminated in accordance with its terms, it is expected that
Admission will become effective and trading in the New Ordinary Shares will
commence at 8.00 a.m. on 17 April 2026.

 

The total voting rights as of Admission will be announced separately with the
results of the Retail Offer.

 

Enquiries:

 

 Contacts:
 SRT Marine Systems plc                                  www.srt-marine.com (http://www.srt-marine.com)

                                                         + 44 (0) 1761 409500

 Simon Tucker (CEO)                                      simon.tucker@srt-marine.com
 Kevin Finn (Chairman)                                   kevin.finn@srt-marine.com

 Nora Alakshan (Corporate Communications Manager)        nora.alakshan@srt-marine.com

 Julian Collett (Director of Capital Markets Strategy)   julian.collett@srt-marine.com (mailto:julian.collett@srt-marine.com)

 Cavendish Capital Markets Limited (NOMAD & Broker)
 Jonny Franklin-Adams / Teddy Whiley / Finn Gordon (Corporate Finance)                            +44 (0) 20 7220 0500
 Sunila de Silva (Corporate Broking)
 Boscobel & Partners (Media Contact)                     SRTMarine@boscobelandpartners.com (mailto:SRTMarine@boscobelandpartners.com)

 George Trefgarne / Tabitha Owers                        +44 (0) 20 3642 1310

 

 

 

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