TIDMSRT

RNS Number : 9545D

SRT Marine Systems PLC

26 June 2023

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 GBP750,000.

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 GBP50,000.

On completion of the Fundraising, Simon Tucker will have the following shareholding:

 
                                                               Holding following completion 
                                                                      of Fundraising 
 Director        Current shareholding     Number of Retail   Ordinary Shares      % of issued 
                                         Shares subscribed                      share capital 
                                                       for 
                ---------------------  -------------------  ----------------  --------------- 
 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 GBP5.36 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                            www.srt-marine.com 
 Simon Tucker (CEO)                                +44 (0) 20 7036 1400 
 Louise Coates (Marketing Manager) 
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               Ordinary Shares of 0.1p each in SRT 
       Financial instrument,            Marine Systems plc 
       type of instrument 
      Identification code              ISIN - GB00B0M8KM36 
     -------------------------------  ------------------------------------ 
 b)   Nature of the transaction        Purchase of Ordinary Shares 
     -------------------------------  ------------------------------------ 
 c)   Price(s) and volume(s)             Purchase Price(s)    Volume(s) 
                                          50 pence             100,000 
                                                              ---------- 
     -------------------------------  ------------------------------------ 
 d)   Aggregated information:          See 4c) above 
        *    Aggregated volume 
 
 
        *    Price 
     -------------------------------  ------------------------------------ 
 e)   Date of the transaction          26 June 2023 
     -------------------------------  ------------------------------------ 
 f)   Place of the transaction         London Stock Exchange, AIM Market 
                                        (XLON) 
     -------------------------------  ------------------------------------ 
 

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END

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June 26, 2023 12:30 ET (16:30 GMT)

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