Starcom PLC Conversion of loans and Director shareholdings (6972N)
01 Outubro 2021 - 3:00AM
UK Regulatory
TIDMSTAR
RNS Number : 6972N
Starcom PLC
01 October 2021
1 October 2021
Starcom PLC
("Starcom" or the "Company")
Conversion of loans and Director shareholdings
The Board of Starcom (AIM: STAR), which specialises in the
development of wireless, Internet-of-Things (IoT) based solutions
for the remote tracking, monitoring and protection of a variety of
assets, is pleased to announce that all the holders of the
convertible loan notes issued in March 2020 and due for repayment
or conversion by 30 September 2021, have exercised their options to
convert these loans into new ordinary shares of Starcom at the
conversion price of 1.25p per share. The loan notes were for
GBP223,600 in total and accordingly, a total of 19,488,000 ordinary
shares ("New Ordinary Shares") will be issued to the lenders as
follows:
Lender No. of New Ordinary
Shares
Montrose Securities Limited, a company controlled
by Michael Rosenberg (Non-Executive Chairman) 8,000,000
--------------------
Avi Engel (Non-Executive Director) 8,000,000
--------------------
Igor Vatenmacher (Chief Financial Officer) 1,744,000
--------------------
Starcom employee 1,744,000
--------------------
The conversion price is at a premium of approximately 39 per
cent. to the most recent closing mid-market share price and
reflects the confidence of the lenders in the prospects for the
Company.
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 on 7 October 2021.
On Admission, the shareholdings in the Company of the directors
concerned will be as follows:
Director Total no. of Ordinary Percentage of issued
Shares held on Admission share capital of the
Company held on Admission
Michael Rosenberg 16,626,391 4.33
-------------------------- ---------------------------
Igor Vatenmacher 2,744,000 0.71
-------------------------- ---------------------------
Avi Engel 11,108,334 2.89
-------------------------- ---------------------------
Total Voting Rights
On Admission, the Company's issued ordinary share capital will
comprise 384,214,576 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 384,214,576. 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:
Starcom Plc
Michael Rosenberg, Chairman 07785 727595
Avi Hartmann, CEO +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
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Michael Rosenberg (Chairman)
Avi Engel (Non-executive Director)
Igor Vatenmacher (Chief Financial Officer)
-------------------------- --------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status See 1 a) above
-------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Starcom 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 Ordinary Shares of no par value
financial instrument,
type of instrument Identification code (ISIN) for Starcom plc
Identification ordinary shares: JE00B8WSDY21
code
-------------------------- --------------------------------------------
b) Nature of the transaction Issue of ordinary shares for conversion
of loan notes
-------------------------- --------------------------------------------
c) Price(s) and volume(s) Director/PDMR Price(s) Volume(s)
Michael Rosenberg 1.25p 8,000,000
--------- ----------
Avi Engel 1.25p 8,000,000
--------- ----------
Igor Vatenmacher 1.25p 1,744,000
--------- ----------
-------------------------- --------------------------------------------
d) Aggregated information Volume(s)
- Aggregated volume Price(s)
- Price 1.25p 17,744,000
-----------
-------------------------- --------------------------------------------
e) Date of the transaction 30 September 2021
-------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------
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END
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