REG - T42 IOT Tracking Sol - Extension of CLN Redemption Dates

t42 IoT Tracking SolutionsAnnouncement

16/05/2025 07:00

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RNS Number : 9226I  T42 IOT Tracking Solutions PLC  16 May 2025

 

16 May 2025

 

t42 IoT Tracking Solutions plc

("t42" or the "Company")

Extension of CLN Redemption Dates

t42 IoT Tracking Solutions plc (AIM: TRAC), a leading provider of global
shipping container tracking solutions, announces that it has reached agreement
in principle, with the respective lenders, to extend the repayment date of the
Company's £925,000 and $1,300,000 secured convertible loan notes ("CLNs").

The two CLNs are currently due to mature on 20 May 2025 and the repayment
extensions are subject to finalisation of terms and agreements, although there
can be no certainty that definitive documentation will be concluded or the
timing thereof. The lenders have confirmed that they will not be seeking
repayment while the extensions are being negotiated.

 

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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