REG - T42 IOT Tracking Sol - Extension of CLN

t42 IoT Tracking SolutionsAnnouncement

Tue 07:00

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RNS Number : 8566S  T42 IOT Tracking Solutions PLC  29 July 2025

29 July 2025

t42 IoT Tracking Solutions plc

("t42" or the "Company")

Extension of CLN

Further to the Company's announcement on 16 May 2025, T42 is pleased to
confirm that on 28 July 2025 it entered into an agreement (the "Extension
Agreement") for the extension of the maturity date of the £925,000 secured
convertible loan notes ("CLNs"), originally subscribed on 22 December 2021.

The Extension Agreement provides for the extension of the CLN maturity date to
be extended until the 10 December 2027, together with a scheduled repayment of
the CLNs. Repayment of the CLNs commences in July 2025, with regular
repayments of capital and accrued interest in monthly instalments. The
Extension Agreement provides for security by way of fixed and floating charges
over the assets of t42's Helios division. The remaining terms of the CLNs, as
announced on 7 March 2024, remain in force.

In parallel, as also announced on 16 May 2025, t42 continues discussions to
extend the repayment date of the Company's $1.3m secured convertible loan
notes ("Second CLN"), subject to finalisation of terms and agreements,
although there can be no certainty that definitive documentation will be
concluded or the timing thereof. A further announcement will be made in due
course.

 

Contacts:

 t42 IoT Tracking Solutions PLC

 Michael Rosenberg, Chairman                                      07785 727595

 Avi Hartmann, CEO                                                +972 5477 35663
 Strand Hanson Limited (Nominated Adviser and Financial Adviser)  020 7409 3494

 James Harris/ Richard Johnson/ Imogen Ellis
 Peterhouse Capital Limited (Broker)                              020 7469 0930

 Lucy Williams/ Duncan Vasey/ Eran Zucker

Notes to Editors

t42 IoT Tracking Solutions plc (AIM: TRAC), formerly Starcom Systems plc,
provides real-time tracking, analysis, monitoring, and security IoT solutions
for the global container and freight market and covers 55 countries, over 100
distributors, and 50 logistics and support partners.

t42's multi-sensor IoT tracking devices use a wide range of detection
capabilities with cloud-based analytics and alerts, with real-time data
transmission, analysis, and actionable insights. Its devices are used by
ports, cargo owners, shipping companies, freight forwarders, insurance
companies, customs authorities, homeland security, and police for end-to-end
global container tracking and digital transformation of shipments.

For more information on the Company, please visit: www.t42.co.uk/
(http://www.t42.co.uk/) .

The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to article 7 of EU Regulation 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended.

 

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