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@s rt-marine.com
Louise Coates (Marketing Manager)		louise.coates@s rt-marine.com
finnCap Ltd
Jonny Franklin-Adams / Teddy Whiley (Corporate Finance)		[phone]
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

 

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