REG - SRT Marine Systems - Result of Placing, Director Dealing and TVR

SRT Marine SystemsAnnouncement

11/03/2022 07:00

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RNS Number : 4256E  SRT Marine Systems PLC  11 March 2022

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED
WITHIN IT (TOGETHER, THIS "ANNOUNCEMENT") IS RESTRICTED AND IS NOT FOR
RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN
PART, IN, INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND
POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA,
COLLECTIVELY THE "UNITED STATES"), AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR
SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL ("RESTRICTED JURISDICTION").

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU AS IT FORMS PART OF THE LAW OF ENGLAND AND WALES BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. IN ADDITION, MARKET
SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT,
WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION.
UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE
TO BE IN POSSESSION OF INSIDE INFORMATION.

 

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

 

Defined terms used in this announcement have the meanings given to them in the
'Proposed Placing to raise up to £4.9 million' announcement released around
4:35 p.m. yesterday unless the context provides otherwise.

 

 SRT Marine Systems plc

 

(AIM: SRT)

 

("SRT" or the "Company")

 

 

Result of Placing,

 

Director Shareholding

 

and

 

Total Voting Rights

SRT Marine Systems plc ('SRT'), a global provider of integrated maritime
surveillance systems and digital navigation safety transceivers, is pleased to
announce that, further to the announcement made yesterday, the Company has
concluded its Bookbuild process, successfully raising gross proceeds of £4.9
million through the Placing. The Company has placed 16,365,000 new Ordinary
Shares at a price of 30 pence per new Ordinary Share with existing and new
investors.

The Issue Price represents a discount of approximately 25% to the closing
mid-market price of an Ordinary Share of 40 pence on 9 March 2022. The New
Ordinary Shares will represent 9.06% of the Company's Enlarged Issued Share
Capital.

finnCap acted as Broker to the Placing. The New Ordinary Shares issued
pursuant to the Placing will, when issued, be credited as fully paid and will
rank pari passu in all respects with the existing Ordinary Shares at that
time.

Directors Participation

Simon Tucker and Kevin Finn have subscribed for in aggregate 166,666 Placing
Shares at the Issue Price raising gross proceeds of approximately £50,000.

On completion of the Placing, Simon Tucker and Kevin Finn will have the
following resultant shareholdings:

 

                                                                          Resultant holding
 Director      Current shareholding  Number of Ordinary Shares purchased  Ordinary Shares  % of issued share capital
 Simon Tucker  2,763,741             83,333                               2,847,074        1.58
 Kevin Finn    0                     83,333                               83,333           0.05

 

Admission

The Placing is conditional, inter alia, upon the Admission becoming effective.
Application has been made to the London Stock Exchange for the 16,365,000 New
Ordinary Shares to be issued pursuant to the Placing 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 will commence at 8.00 a.m. on 16 March 2022.

Total Voting Rights

On Admission, the total number of Ordinary Shares in issue will be 180,676,939
and the total number of voting rights will therefore be 180,676,939. This
figure 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 share capital of the Company under the
FCA's Disclosure Guidance and Transparency Rules.

 

Enquiries:

 SRT Marine Systems plc                                                    www.srt-marine.com

                                                                           +44 (0) 20 7036 1400

 Simon Tucker (CEO)                                                        simon.tucker@srt-marine.com

 Louise Coates (Marketing Manager)                                         louise.coates@srt-marine.com

 finnCap Ltd (Nominated Adviser & Broker)                                  +44 (0) 20 7220 0500

 Jonny Franklin-Adams / Teddy Whiley / James Balicki (Corporate Finance)

 Tim Redfern / Charlotte Sutcliffe (ECM)

 

 

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                                                         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)                        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  Ordinary Shares of 0.1p each in SRT Marine Systems plc
                           Identification code                                          ISIN - GB00B0M8KM36
 b)                        Nature of the transaction                                    Purchase of Ordinary Shares
 c)                        Price(s) and volume(s)

Purchase Price(s)  Volume(s)
                                                                                        30 pence           83,333
 d)                        Aggregated information:                                      See 4c) above

                           ·      Aggregated volume

                           ·      Price
 e)                        Date of the transaction                                      10 March 2022
 f)                        Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

d)

Aggregated information:

·      Aggregated volume

·      Price

See 4c) above

e)

Date of the transaction

10 March 2022

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

 5.                        Details of the person discharging managerial responsibilities / person closely
                           associated
 a)                        Name                                                         Kevin Finn
 6.                        Reason for the Notification
 a)                        Position/status                                              Non-Executive Chairman
 b)                        Initial notification/Amendment                               Initial Notification
 7.                        Details of the issuer, emission allowance market participant, auction
                           platform, auctioneer or auction monitor
 a)                        Name                                                         SRT Marine Systems plc
 b)                        LEI                                                          2138002DF3KFXL472938
 8.                        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  Ordinary Shares of 0.1p each in SRT Marine Systems plc
                           Identification code                                          ISIN - GB00B0M8KM36
 b)                        Nature of the transaction                                    Purchase of Ordinary Shares
 c)                        Price(s) and volume(s)

Purchase Price(s)  Volume(s)
                                                                                        30 pence           83,333
 d)                        Aggregated information:                                      See 4c) above

                           ·      Aggregated volume

                           ·      Price
 e)                        Date of the transaction                                      10 March 2022
 f)                        Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

d)

Aggregated information:

·      Aggregated volume

·      Price

See 4c) above

e)

Date of the transaction

10 March 2022

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

 

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