REG - Trakm8 Holdings PLC - Change of Nominated Adviser and Broker

Trakm8 HoldingsAnnouncement

27/04/2022 14:00

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RNS Number : 5574J  Trakm8 Holdings PLC  27 April 2022

27 April 2022

 

Trakm8 Holdings plc

 

("Trakm8", the "Group" or the "Company")

 

Change of Nominated Adviser and Broker

 

Trakm8 Holdings plc (AIM: TRAK), the global telematics and data insight
provider, is pleased to announce the appointment of Allenby Capital Limited as
the Company's nominated adviser and broker with immediate effect.

 

As detailed below, the appointment of Allenby Capital Limited has been
undertaken ahead of the completion of its full due diligence as it would not
have been possible for this to have been finalised ahead of the loss of Arden
Partners plc's nominated adviser status. This situation is not unique to the
Company and is the same for all AIM companies that had Arden Partners plc
appointed as their nominated adviser, given the extremely short timeframe
between the date that it was announced that Arden Partners plc would no longer
be able to provide nominated adviser services (being 11 April 2022) and the
date on which it will lose its nominated adviser status (being 28 April 2022).

 

John Watkins, Executive Chairman of Trakm8, commented:

 

"We at Trakm8 are delighted to be appointing Allenby as our Nomad and Broker.
Although the change was precipitated by the loss of the Nomad status by Arden,
we have taken this opportunity to change our Broker too so that we may
re-invigorate our engagement with shareholders and other potential investors."

 

Further details on the appointment of Allenby Capital Limited

 

Further to the announcements by Arden Partners plc on 11 and 14 April 2022
regarding the loss of its nominated adviser status upon the completion of its
recommended takeover, the Company has appointed Allenby Capital Limited as its
nominated adviser. Given the timing of the completion of the recommended
takeover of Arden Partners plc, London Stock Exchange plc has agreed that
subject to initial due diligence being undertaken, Allenby Capital Limited
has until 5pm on 27 July 2022 to complete its full due diligence.

 

There can be no guarantee on the outcome of the full due diligence and its
impact on Allenby Capital Limited's decision to continue to act as nominated
adviser. Accordingly, in such circumstances there is a risk that if Allenby
Capital Limited does not continue to act as nominated adviser following
completion of its full due diligence and the Company has not found an
alternative nominated adviser, the Company's AIM securities may be suspended
pursuant to AIM Rule 1. If, within one month of that suspension, the Company
has failed to appoint a replacement nominated adviser, the admission of its
AIM securities will be cancelled.

 

Notwithstanding the extension of time provided in respect of completing full
due diligence obligations at engagement, Allenby Capital Limited will continue
to be subject to all the ongoing nominated adviser responsibilities under the
AIM Rules for Nominated Advisers.

 

Ends

 

For further information:

 

Trakm8 Holdings plc

 

John Watkins, Executive Chairman
                              Tel: +44 (0) 167 543 4200

Jon Edwards, CFO
 
     www.trakm8.com (http://www.trakm8.com)

 

Allenby Capital Limited (Nominated Adviser &
Broker)                            Tel: +44 (0) 20
3328 5656

David Hart/Liz Kirchner, Corporate Finance
                          www.allenbycapital.com

Tony Quirke, Sales and Corporate Broking

 

 

About Trakm8

 

Trakm8 is a UK based technology leader in fleet management, insurance
telematics, connected car, and optimisation. Through IP owned technology, the
Group uses AI data analytics collected from its installed base of telematics
units to fine tune the algorithms that are used to produce its' solutions;
these monitor driver behaviour, identify crash events and monitor vehicle
health to provide actionable insights to continuously improve the security and
operational efficiency of both company fleets and private drivers.

 

The Group's product portfolio includes the latest data analytics and reporting
portal (Trakm8 Insight), integrated telematics/cameras/optimisation,
self-installed telematics units and one of the widest ranges of installed
telematics devices. Trakm8 has over 264,000 connections.

 

Headquartered in Coleshill near Birmingham alongside its manufacturing
facility, the Group supplies to the Fleet, Optimisation, Insurance and
Automotive sectors to many well-known customers in the UK and internationally
including the AA, Saint Gobain, EON, Iceland Foods, GSF, Direct Line Group,
Ticker and Ingenie.

 

Trakm8 has been listed on the AIM market of the London Stock Exchange since
2005. Trakm8 is also recognised with the LSE Green Economy Mark.

 

www.trakm8.com / @Trakm8

 

 

 

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