T42 IOT Tracking Solutions PLC Update re CLN and Exercise of Options (0431A)
January 17 2024 - 8:35AM
UK Regulatory
TIDMTRAC
RNS Number : 0431A
T42 IOT Tracking Solutions PLC
17 January 2024
Correction: This replaces RNS 9054Z released at 07:00 on 17
January 2024. The total voting rights figure to be used by
shareholders has been corrected to 55,126,357 Ordinary Shares
(rather than 54,917,055 as previously announced). All other details
remain unchanged.
17 January 2024
t42 IoT Tracking Solutions Plc.
("t42", the "Company" or the "Group")
Update re Convertible Loan Notes
and
Exercise of Options
Further to the announcement on 20 December 2023, the Company
confirms that it remains in [advanced] negotiations to extend the
repayment date of the 2021 unsecured convertible loan notes ("CLN")
with the CLN noteholders, who have indicated their willingness to
do so subject to final terms. A further announcement will be made
in due course.
The Company also notifies the issue of 209,302 new ordinary
shares of no-par value each in the capital of the Company
("Ordinary Shares"), pursuant to the exercise of nil cost options
granted to a previous director in 2021 in lieu of salary and
fees.
Application will be made to the London Stock Exchange for the
209,302 new Ordinary Shares to be admitted to trading on AIM
("Admission"). It is expected that Admission will become effective
and that dealings in the new Ordinary Shares on AIM will commence
at 8.00 a.m. on or around 22 January 2024.
On Admission, the Company's issued share capital will consist of
55,126,357 Ordinary Shares, each with one voting right. There are
no shares held in treasury. Therefore, the Company's total number
of Ordinary Shares and voting rights will be 55,126,357 and this
figure may be used by shareholders following Admission 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 Company under the FCA's Disclosure Guidance and
Transparency Rules.
Contacts:
t42 IoT Tracking Solutions PLC Michael Rosenberg, Chairman 07785 727595
Avi Hartmann, CEO +972 5477 35663
Strand Hanson Limited (Nominated Adviser and Financial Adviser) 020 7409 3494
James Harris/ Richard Johnson/ Robert Collins
Peterhouse Capital Limited 020 7469 0930
Lucy Williams/ Charles Goodfellow/ Eran Zucker
t42 IoT Tracking Solutions plc (AIM: TRAC), formerly Starcom
Systems plc, provides real-time tracking, analysis, monitoring, and
security IoT solutions for the global container and freight market
and covers 55 countries, over 100 distributors, and 50 logistics
and support partners.
t42's multi-sensor IoT tracking devices use a wide range of
detection capabilities with cloud-based analytics and alerts, with
real-time data transmission, analysis, and actionable insights. Its
devices are used by ports, cargo owners, shipping companies,
freight forwarders, insurance companies, customs authorities,
homeland security, and police for end-to-end global container
tracking and digital transformation of shipments.
For more information on the Company, please visit:
https://www.t42.co.uk/
The information contained within this announcement is deemed by
the Company to constitute inside information pursuant to Article 7
of EU Regulation 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 as amended.
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END
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