Starcom PLC Placing (9992P)
November 24 2016 - 2:00AM
UK Regulatory
TIDMSTAR
RNS Number : 9992P
Starcom PLC
24 November 2016
24 November 2016
Starcom Plc
("Starcom" or the "Company")
Placing
Starcom (AIM: STAR), the AIM technology company specialising in
the development of wireless solutions for the remote tracking,
monitoring and protection of a variety of assets and people,
announces that, in response to investor demand, the Company has
conditionally placed 5,000,000 new Ordinary Shares (the "Placing
Shares") with new and existing shareholders at a price of 3p per
Placing Share to raise GBP150,000 before expenses (the "Placing").
The Placing Shares were placed by Peterhouse Corporate Finance
Limited as the Company's joint broker.
The proceeds of the Placing will be used to provide the Company
with additional working capital. Since the placing announced on 21
October 2016, trading has been in line with the Board's
expectations.
The Placing
The issue of the Placing Shares is conditional, inter alia, on
admission to trading on AIM ("Admission") which is expected to
occur at 8.00 am on 29 November 2016. On Admission, the Placing
Shares will rank pari passu with the Company's existing Ordinary
Shares.
Total voting rights
Following Admission, the Company's enlarged issued share capital
will comprise 152,830,680 Ordinary Shares. The Company does not
hold any shares in treasury. Therefore, the total number of
Ordinary Shares with voting rights will be 152,830,680. 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
share capital of the Company under the FCA's Disclosure Guidance
and Transparency Rules.
Directors and co-founders' interests
Following Admission, the Directors and co-founders will have the
following interests in the Ordinary Shares of the Company:
Ordinary Shares % of voting rights
Avi Hartmann 20,711,168 13.6
Avi Engel 498,334 0.3
Michael Rosenberg* 1,395,000 0.9
Uri Hartman 22,111,166 14.5
Doron Kedem 22,111,166 14.5
* Mr Rosenberg's shares are held through his personal pension
plan of which he is the sole beneficiary.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
-ends-
For further information, please contact:
Starcom Plc
Michael Rosenberg, Chairman 07785 727 595
Avi Hartmann, CEO +972 5430 70103
+972 3619 9901
Northland Capital Partners Limited
(Nominated Adviser and Broker) 020 3861 6625
Edward Hutton / David Hignell (Corporate Finance)
John Howes / Abigail Wayne (Sales and Broking)
Peterhouse Corporate Finance (Joint Broker) 020 7469 0930
Lucy Williams / Charles Goodfellow / Eran Zucker
Leander PR (Financial PR) 020 7520 9267
Christian Taylor-Wilkinson 07795 168 157
This information is provided by RNS
The company news service from the London Stock Exchange
END
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