REG - T42 IOT Tracking Sol - Update re CLN and Exercise of Options

t42 IoT Tracking SolutionsAnnouncement

22/01/2024 09:45

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RNS Number : 4610A  T42 IOT Tracking Solutions PLC  22 January 2024

Correction: This replaces RNS 0431A released at 13:35 on 17 January 2024. In
the first line of the RNS the square brackets on the word "advanced" have been
removed. All other details remain unchanged.

 

 

 

17 January 2024

 

t42 IoT Tracking Solutions Plc.

("t42", the "Company" or the "Group")

 

Update re Convertible Loan Notes

and

Exercise of Options

Further to the announcement on 20 December 2023, the Company confirms that it
remains in advanced negotiations to extend the repayment date of the 2021
unsecured convertible loan notes ("CLN") with the CLN noteholders, who have
indicated their willingness to do so subject to final terms. A further
announcement will be made in due course.

 

The Company also notifies the issue of 209,302 new ordinary shares of no-par
value each in the capital of the Company ("Ordinary Shares"), pursuant to the
exercise of nil cost options granted to a previous director in 2021 in lieu of
salary and fees.

 

Application will be made to the London Stock Exchange for the 209,302 new
Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected
that Admission will become effective and that dealings in the new Ordinary
Shares on AIM will commence at 8.00 a.m. on or around 22 January 2024.

 

 On Admission, the Company's issued share capital will consist of 55,126,357
Ordinary Shares, each with one voting right.  There are no shares held in
treasury. Therefore, the Company's total number of Ordinary Shares and voting
rights will be 55,126,357 and this figure may be used by shareholders
following Admission 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 Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

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/ Robert Collins

 

Peterhouse Capital Limited
 
020 7469 0930

Lucy Williams/ Charles Goodfellow/ Eran Zucker

 

 

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: (https://www.t42.co.uk/)
https://www.t42.co.uk/ (https://www.t42.co.uk/) (https://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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