Source - LSE Regulatory
RNS Number : 7872D
SRT Marine Systems PLC
23 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 on 23 June 2023 at 07:00 a.m. (the "Launch Announcement"), unless the context requires otherwise.

 

 

For immediate release

23 June 2023

SRT Marine Systems plc

 

Result of Placing

 

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 that further to the Launch Announcement, the Bookbuild has closed and the Company has conditionally raised gross proceeds of approximately £4.61 million, through the successful placing of 9,220,000 Placing Shares at the Issue Price of 50 pence per New Ordinary Share, a significant increase to the minimum size of the Placing described in the Launch Announcement following strong investor demand.

 

EXPECTED TIMETABLE OF PRINCIPAL EVENTS


2023

Announce Close of the Placing

23 June

Announce Close of Retail Offer

26 June

Commencement of dealings in the New Ordinary Shares on AIM

08:00 a.m. 30 June

Admission of New Ordinary Shares in uncertificated form expected to be credited to accounts in CREST (uncertificated holders only)

30 June

Expected date of despatch of definitive share certificates for the New Ordinary Shares in certificated form (certificated holders only)

Within 10 business days of Admission

 

 Notes

1.     Each of the times and dates in the above timetable is subject to change at the absolute discretion of the Company (with the agreement of finnCap). If any of the above times and/or dates change, the revised times and/or dates will be notified to Shareholders by way of an announcement through a Regulatory Information Service.

2.     References to time in this document are to London time.

Director Participation

 

Simon Tucker, CEO of the Company, has confirmed that his participation in the Fundraising will now take place through the Retail Offer. A further announcement will be made when the results of the Retail Offer are announced.

 

Admission

 

The Placing and Retail Offer are conditional upon, inter alia, Admission becoming effective.

 

Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM and, subject to the Placing Agreement not having been terminated in accordance with its terms, it is expected that Admission will become effective and trading in the New Ordinary Shares will commence at 8.00 a.m. on 30 June 2023.

 

The total voting rights as of Admission will be announced separately with the results of the Retail Offer.

 

Enquiries:

 

SRT Marine Systems plc

 

 

Simon Tucker (CEO)

 

Louise Coates (Marketing Manager)

 

www.srt-marine.com

+44 (0) 20 7036 1400

 

simon.tucker@srt-marine.com

 

louise.coates@srt-marine.com

 

 

 

finnCap Ltd (Nominated Adviser & Broker)

 

Jonny Franklin-Adams / Teddy Whiley (Corporate Finance)

 

Tim Redfern / Charlotte Sutcliffe (ECM)

 

+44 (0) 20 7220 0500

 

 

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