REG - Starcom PLC - Issue of Equity <Origin Href="QuoteRef">STARS.L</Origin>

t42 IoT Tracking SolutionsAnnouncement

14/01/2016 08:10

RNS Number : 8453L
Starcom PLC
14 January 2016
14 January 2016
Starcom Systems Plc
("Starcom" or the "Company")
Issue of equity
Further to the announcement of 15 October 2015 detailing the Company's unsecured convertible loan facility (the "Loan Facility") with YA Global Master SPV Ltd. (the "Investor"), the Company announces that it has issued to the Investor 1,659,312 Ordinary Shares at a price of approximately 2.11p per share in conversion of $50,000 loan principal and accrued interest (amounting in aggregate to US$50,748 (34,955)) ("Conversion Shares"). The conversion price is calculated under the terms of the Loan Facility.
Application has been made for admission of the Conversion Shares to trading on AIM ("Admission"). Admission is expected to occur at 8.00 am on or around 19 January 2016. On Admission, the Conversion Shares will rank pari passu with the Company's existing Ordinary Shares.
Total voting rights
Following Admission, the Company's enlarged issued share capital will comprise 102,655,722 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares with voting rights will be 102,655,702. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
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For further information please contact: 


Starcom plc
Northland Capital 
(Nomad)
Northland Capital 
(Broking)
Leander (Financial PR)
Michael Rosenberg 
Avi Hartmann
Edward Hutton
David Hignell
John Howes
Abigail Wayne
Christian Taylor-Wilkinson
Tel: 07785 727595
 +972 543070103
 
Tel: 020 7382 1100
Tel: 020 7382 1100
Tel: 07795 168 157

This information is provided by RNS
The company news service from the London Stock Exchange
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