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SRT Marine Systems PLC

SRT Marine Systems - Exercise of Options, PDMR Dealings & TVR

RNS Number : 3698M
SRT Marine Systems PLC
11 May 2020
 

 

SRT MARINE SYSTEMS PLC

 ("SRT" or the "Company")

Exercise of Options, PDMR Dealings and Total Voting Rights

 

SRT Marine Systems PLC (SRT), a global provider of maritime surveillance, monitoring and management systems, announces that it was notified on 7 May 2020 Simon Tucker, Chief Executive Officer of the Company, has exercised share options ("Share Options") over a total of 2,200,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a strike price of £0.09 pence each.

Subsequently on 7 May 2020, Mr Tucker, sold 1,100,000 Ordinary Shares to finance the direct exercise share purchase costs of £198,000 and associated tax liabilities. The completion of the transaction will result in the Company receiving £198,000 in cash and Mr Tucker's share ownership in SRT increasing to 2,707,440 million ordinary shares.  

Details of the Share Options and Sale are as follows:

Name

No. of Share Options exercised

Exercise price

No. of Ordinary Shares sold

Price at which Ordinary Shares were sold

Resultant number of Ordinary Shares held

Resultant interest in Ordinary Shares following Admission

Simon Tucker

2,200,000

9p

1,100,000

32p

2,707,440

1.64%

 

Application will be made 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 14 May 2020. 

Following Admission, there will be 164,251,939 Ordinary Shares in issue with each Ordinary Share carrying the right to one vote. This is the total voting rights figure which may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

For further information, please contact:


SRT Marine Systems plc

www.srt-marine.com

+ 44 (0) 1761 409500

Simon Tucker (CEO)

simon.tucker@srt-marine.com

Louise Coates (Marketing Manager)

louise.coates@srt-marine.com



finnCap Ltd


Jonny Franklin-Adams / Teddy Whiley (Corporate Finance)

+44 (0) 20 7220 0500

Tim Redfern / Richard Chambers (ECM)





 

About SRT Marine Systems plc:

SRT develops, manufactures and supplies maritime surveillance and vessel tracking technologies, products and systems. The Company's products and solutions are used by individual vessel owners, port authorities, maritime infrastructure owners, coast guards, fishery agencies and other national security agencies to enhance their maritime domain awareness, monitoring and management capabilities. Applications include the tracking of commercial and leisure vessels; sustainable fishery; anti-collision; search and rescue; waterway management, port and coast security; pollution management; and environmental management. 

 

1.

Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")

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)

Legal Entity Identifier

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

Ordinary shares of 0.1 pence each in the Company

GB00B0M8KM36

b)

Nature of the transaction

Exercise of Share Options over Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Exercise price of 9p

2,200,000 Ordinary Shares

 

d)

Aggregated information

-     Aggregated volume

-     Aggregated price

 

n/a

n/a

 

e)

Date of the transaction(s)

7 May 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")

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)

Legal Entity Identifier

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

Ordinary shares of 0.1 pence each in the Company

GB00B0M8KM36

b)

Nature of the transaction

Sale of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

32p

1,100,000 Ordinary Shares

 

d)

Aggregated information

-     Aggregated volume

-     Aggregated price

 

1,100,000

32p

 

e)

Date of the transaction(s)

7 May 2020

f)

Place of the transaction

London Stock Exchange, AIM

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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