REG - SRT Marine Systems - Result of PrimaryBid Offer, Director Dealing & TVR

SRT Marine SystemsAnnouncement

26/06/2023 17:45

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RNS Number : 9545D  SRT Marine Systems PLC  26 June 2023

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, 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") OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
PROHIBITED BY LAW ("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 in respect of the
launch of the PrimaryBid Offer on 23 June 2023 at or around 07:01 a.m. (the
"PrimaryBid Launch Announcement"), unless the context requires otherwise.

 

For immediate release

26 June 2023

 

SRT Marine Systems plc

Results of PrimaryBid Offer,

Director/PDMR Shareholding

and

Total Voting Rights

SRT Marine Systems plc (AIM: SRT), a global provider of integrated maritime
surveillance systems and digital navigation safety transceivers ("SRT" or the
"Company"), is pleased to announce the successful completion of the PrimaryBid
Offer that was announced on 23 June 2023, which was heavily oversubscribed.

Following the successful completion of the non-pre-emptive Placing of
9,220,000 New Ordinary Shares which was announced on 23 June 2023, retail
investors have subscribed via the PrimaryBid platform for a total of 1,500,000
New Ordinary Shares at an issue price of 50 pence per share, raising gross
proceeds of £750,000.

Directors' participation

Simon Tucker, a Director, has subscribed for 100,000 New Ordinary Shares by
way of the PrimaryBid Offer at the Issue Price raising gross proceeds of
£50,000.

On completion of the Fundraising, Simon Tucker will have the following
shareholding:

                                                                             Holding following completion of Fundraising
 Director      Current shareholding  Number of Retail Shares subscribed for  Ordinary Shares         % of issued share capital
 Simon Tucker  2,974,766             100,000                                 3,074,766               1.6%

 

Consequently, in aggregate, 10,720,000 New Ordinary Shares will be issued
pursuant to the Placing and the PrimaryBid Offer, representing approximately
5.91 per cent. of the Company's existing issued share capital, and raising
gross proceeds of £5.36 million.

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 London Stock Exchange plc 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 30 June 2023.

Total Voting Rights

On Admission, the total number of Ordinary Shares in issue will be 192,244,939
and the total number of voting rights will therefore be 192,244,939. 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

 Simon Tucker (CEO)                                        +44 (0) 20 7036 1400

 Louise Coates (Marketing Manager)

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

 Jonny Franklin-Adams / Teddy Whiley (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)
                                                                                                50 pence           100,000
 d)                                Aggregated information:                                      See 4c) above

                                   ·      Aggregated volume

                                   ·      Price
 e)                                Date of the transaction                                      26 June 2023
 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

26 June 2023

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

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