THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED WITHIN IT (THIS "ANNOUNCEMENT") IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA, COLLECTIVELY THE "UNITED STATES") OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE PROHIBITED BY LAW ("RESTRICTED JURISDICTION").
FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER IN ANY RESTRICTED JURISDICTION.
Capitalised terms not otherwise defined herein shall have the meanings given to them in the announcement made by SRT Marine Systems plc in respect of the launch of the PrimaryBid Offer on 23 June 2023 at or around 07:01 a.m. (the "PrimaryBid Launch Announcement"), unless the context requires otherwise.
For immediate release
26 June 2023
SRT Marine Systems plc
Results of PrimaryBid Offer,
Director/PDMR Shareholding
and
Total Voting Rights
SRT Marine Systems plc (AIM: SRT), a global provider of integrated maritime surveillance systems and digital navigation safety transceivers ("SRT" or the "Company"), is pleased to announce the successful completion of the PrimaryBid Offer that was announced on 23 June 2023, which was heavily oversubscribed.
Following the successful completion of the non-pre-emptive Placing of 9,220,000 New Ordinary Shares which was announced on 23 June 2023, retail investors have subscribed via the PrimaryBid platform for a total of 1,500,000 New Ordinary Shares at an issue price of 50 pence per share, raising gross proceeds of £750,000.
Directors' participation
Simon Tucker, a Director, has subscribed for 100,000 New Ordinary Shares by way of the PrimaryBid Offer at the Issue Price raising gross proceeds of £50,000.
On completion of the Fundraising, Simon Tucker will have the following shareholding:
| | | | Holding following completion of Fundraising | |
| Director | Current shareholding | Number of Retail Shares subscribed for | Ordinary Shares | % of issued share capital |
| Simon Tucker | 2,974,766 | 100,000 | 3,074,766 | 1.6% |
Consequently, in aggregate, 10,720,000 New Ordinary Shares will be issued pursuant to the Placing and the PrimaryBid Offer, representing approximately 5.91 per cent. of the Company's existing issued share capital, and raising gross proceeds of £5.36 million.
The New Ordinary Shares will, when issued, be credited as fully paid and rank pari passu with the existing Ordinary Shares.
Application will be made to London Stock Exchange plc for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to take place at 8.00 a.m. on 30 June 2023.
Total Voting Rights
On Admission, the total number of Ordinary Shares in issue will be 192,244,939 and the total number of voting rights will therefore be 192,244,939. This figure may be used by shareholders 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries
| SRT Marine Systems plc Simon Tucker (CEO) Louise Coates (Marketing Manager)
| www.srt-marine.com +44 (0) 20 7036 1400
|
| finnCap Ltd (Nominated Adviser & Broker) Jonny Franklin-Adams / Teddy Whiley (Corporate Finance) Tim Redfern / Charlotte Sutcliffe (ECM) | +44 (0) 20 7220 0500 |
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 | Simon Tucker | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/Amendment | Initial Notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | SRT Marine Systems plc | ||||
| b) | LEI | 2138002DF3KFXL472938 | ||||
| 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 0.1p each in SRT Marine Systems plc | ||||
| Identification code | ISIN - GB00B0M8KM36 | |||||
| b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price | See 4c) above | ||||
| e) | Date of the transaction | 26 June 2023 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
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