REG - SRT Marine Systems - Result of Oversubscribed Retail Offer

SRT Marine SystemsAnnouncement

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RNS Number : 6338A  SRT Marine Systems PLC  15 April 2026

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY,  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.

TERMS NOT OTHERWISE DEFINED HEREIN SHALL HAVE THE MEANINGS GIVEN TO THEM IN
THE COMPANY'S ANNOUNCEMENT RELEASED ON 13 APRIL 2026 UNLESS THE CONTEXT
REQUIRES OTHERWISE.

 

15 April 2026

 

SRT MARINE SYSTEMS PLC

("SRT" or the "Company")

Result of Oversubscribed Retail Offer

The Board of SRT Marine Systems plc (the "Company") is pleased to announce
that the Retail Offer which launched on 13 April 2026, which was multiple
times oversubscribed, has now closed. Accordingly, the Company has elected to
increase the scale of the Retail Offer to raise in aggregate £1.5 million
through the issuance of 1,829,268 Retail Offer Shares at an issue price of 82
pence per New Ordinary Share.

 

Allocations were made to existing shareholders applying the principles of soft
pre-emption. Given the significant demand, shareholders were allocated 100% of
their soft pre-emptive allowance((1)) when their order matched or exceeded
their soft pre-emptive allowance. Where the order was greater than the soft
pre-emptive allowance, shareholders received c.18.69 per cent of their
additional demand((2)).

 

Following the close of the Retail Offer, the Company has conditionally raised
total gross proceeds of approximately £17.5 million at the Issue Price
pursuant to the Fundraising. Accordingly, 21,341,463 New Ordinary Shares in
the Company will be issued pursuant to the Fundraising, conditional on
Admission.

 

Director/PDMR Shareholding

 

Pursuant to the terms of the Subscription, as previously notified, Ocean
Infinity has subscribed for 1,829,268 New Ordinary Shares at the Issue Price.

 

Oliver Plunkett, Non-Executive Director of SRT, is also a board member of and
CEO of Ocean Infinity, the Company's largest shareholder, where he has a
beneficial interest and is therefore also deemed to have an indirect
beneficial interest in Ocean Infinity's entire legal holding in SRT.

 

Following Ocean Infinity's subscription, Mr Plunkett has a direct beneficial
interest in 595,000 Ordinary Shares, representing 0.22 per cent. of the
Company's enlarged issued share capital and an indirect beneficial interest,
via Ocean Infinity, in 39,943,422 Ordinary Shares, representing 14.63 per cent
of Company's enlarged issued share capital.

 

Admission and Total Voting Rights

Application has been made for the 21,341,463 New Ordinary Shares, comprising
the Placing Shares, the Subscription Shares and the Retail offer Shares, to be
admitted to trading on AIM. Admission is expected to occur by no later than
8.00 a.m. on 17 April 2026.

Immediately upon Admission, the Company's issued ordinary share capital will
comprise 272,962,119 Ordinary Shares. Each Ordinary Share has one voting right
and no Ordinary Shares are held in treasury. The above figure of 272,962,119
may be used by Shareholders 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 voting rights of the Company under the FCA's
Disclosure Guidance and Transparency Rules.

 

(1)   Soft Pre-emptive allowance Calculation: Existing shares x 8.48%
(Dilution from total new shares being issued) = Soft Pre-emptive allowance
allocation shares

(2)   Additional Demand: (Total Order shares - Soft Pre-emptive allowance
allocation shares) x c.18.69% = Additional demand allocation shares

 

 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 (mailto:simon.tucker@srt-marine.com)
 Kevin Finn (Chairman)                                   kevin.finn@srt-marine.com (mailto:kevin.finn@srt-marine.com)

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

 

About SRT Marine Systems plc:

SRT Marine Systems PLC ("SRT") is a global provider of civil defence maritime
intelligence and surveillance systems, as well as navigation safety and
efficiency solutions. Our systems provide MDA intelligence that enables
sovereign agencies such as coast guards and fishery authorities to adopt a new
nationwide intelligence-led operations doctrine which is highly effective and
efficient for maritime safety and security. Our navigation safety systems
enable vessel operators to navigate digitally more safely and efficiently. Our
customers range from government agencies such as coast guards, fishery
authorities and ports & waterway authorities, to commercial and leisure
vessel owners.

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                                                         Oliver Plunkett
 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                                                         SRT Marine Systems plc
 b)                                LEI                                                          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, type of instrument  Purchase by Ocean Infinity of 1,829,268 Ordinary Shares in the Company
                                   Identification code                                          ISIN - GB00B0M8KM36
 b)                                Nature of the transaction                                    Purchase of Ordinary Shares
 c)                                Price(s) and volume(s)

 Type                         Price(s)  Volume(s)
                                                                                                 Purchase of Ordinary Shares  £0.82     1,829,268
 d)                                Aggregated information:                                      See 4c) above

                                   · Aggregated volume                                          1,829,268 Ordinary Shares purchased at a price of £0.82 pence each.

                                   · Price
 e)                                Date of the transaction                                      13 April 2026
 f)                                Place of the transaction                                     LSE

d)

Aggregated information:

· Aggregated volume

· Price

See 4c) above

1,829,268 Ordinary Shares purchased at a price of £0.82 pence each.

e)

Date of the transaction

13 April 2026

f)

Place of the transaction

LSE

 

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