Braveheart Dealings and Exercise of Warrants

RNS Number : 5907E

Remote Monitored Systems PLC

09 November 2020

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

9 November 2020

Remote Monitored Systems plc ("RMS" or the "Company")

Braveheart Dealings and Exercise of Warrants

The Company announces that on 6 November 2020, it received notification from Braveheart Investment Group plc ("Braveheart") to exercise a total of 10,000,000 warrants over ordinary shares in the Company at an exercise price of 0.5p per warrant. The consideration received by the Company was £50,000.

The 10,000,000 new Ordinary Shares ("Warrant Shares") arising from the exercise of these warrants have been issued, and application has been made for them to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence at 8:00 a.m. on or around 13 November 2020.

The Company has also received notification from Braveheart that on 5 and 6 November 2020, Braveheart sold a total of 120,000,000 ordinary shares in the Company at a weighted average price of 2.6265 pence per share. Following the sale (as well as the issue of the 310,354,815 Consideration Shares issued to Braveheart issued in respect of the acquisition of Pharm2Farm Limited which completed on 5 November 2020), Braveheart holds 389,992,405 RMS shares, representing 25.45 per cent. of the total voting rights in the Company. Following the Admission of the Warrant Shares, Braveheart will hold 399,992,405 RMS shares, representing 25.94 per cent. of the enlarged issued share capital and total voting rights of the Company.

Following Admission, the Company will have 1,542,070,231 ordinary shares of 0.01p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 1,542,070,231.

The above figure of  1,542,070,231 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 and Transparency Rules.

ENQUIRIES:

Remote Monitored Systems plc

Trevor Brown (Executive Director)                                                                [phone]

Paul Ryan (Non-Executive Chairman)    [phone]

SP Angel Corporate Finance LLP                                                                          [phone]

Nominated Adviser and joint broker            

Stuart Gledhill

Caroline Rowe

Peterhouse Capital Limited                                                                                  [phone]

Joint broker 

Lucy Williams

Duncan Vasey

 

END

 

 

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