11 March 2022
t42 IoT Tracking Solutions PLC
("t42" or the "Company")
Exercise of warrants - Director shareholding
t42 (AIM: TRAC), the real-time tracking, security and monitoring solutions provider for the global container and freight market, announces that 500,000 ordinary shares of no par value ("Ordinary Shares") are being issued at a price of 12p per share following the exercise of warrants by Avi Hartmann, Igor Vatenmacher, Michael Rosenberg and a t42 employee. The warrants were granted in connection with the loans entered into with the Company announced on 25 March 2020.
Application will be made for the new Ordinary shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is anticipated that Admission will become effective at 8.00 a.m. on or around 16 March 2022.
Following the issue of the new Ordinary Shares, the respective directors will have the following interests in the Company's enlarged issued share capital:
| Following the issue of the new Ordinary Shares | ||
| Director | Number of Ordinary Shares held | Percentage of issued ordinary share capital |
| Avi Hartmann | 5,581,528 | 10.53% |
| Igor Vatenmacher | 393,000 | 0.74% |
| Michael Rosenberg | 2,278,299 | 4.30% |
The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation is appended below.
Total voting rights
On Admission, the Company's enlarged issued share capital will comprise 53,026,822 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares with voting rights in the Company will be 53,026,822. 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 voting rights of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Contacts:
| t42 IoT Tracking Solutions PLC Michael Rosenberg, Chairman Avi Hartmann, CEO
|
07785 727595 +972 5477 35663 |
| Allenby Capital Limited (AIM Nominated Adviser and Joint Broker) Jeremy Porter/Piers Shimwell
| 020 3328 5656 |
| Peterhouse Capital Limited (Joint Broker) Lucy Williams/Charles Goodfellow/Eran Zucker
| 020 7469 0930 |
| Yellow Jersey PR (Financial PR) Tom Randell/Henry Wilkinson/Annabelle Wills | 020 3004 9512 |
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 and 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/
Information required pursuant to rule 26 of the AIM Rules for Companies can be found at www.starcomsystems.com
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
| a) | Name | Avi Hartmann (CEO) Igor Vatenmacher (CFO) Michael Rosenberg (Chairman) | ||||||||||||
| 2. | Reason for the Notification | |||||||||||||
| a) | Position/status | See 1a) above | ||||||||||||
| b) | Initial notification/Amendment | Initial Notification | ||||||||||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Name | T42 IoT Tracking Solutions PLC | ||||||||||||
| b) | LEI | 213800XVU7WF3QMF4826 | ||||||||||||
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||||||
| a) | Description of the Financial instrument, type of instrument | Ordinary shares of no par value
| ||||||||||||
| Identification code | ISIN: JE00BKVDPL34 | |||||||||||||
| b) | Nature of the transaction | Exercise of warrants
| ||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||
| d) | Aggregated information: - Aggregated volume - Price |
450,000 N/A | ||||||||||||
| e) | Date of the transaction | 10 March 2022 | ||||||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||||||
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