Result of General Meeting, Director Change & TVR

SRT Marine Systems PLC

02 December 2024

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

For immediate release

SRT MARINE SYSTEMS PLC

("SRT" or the "Company")

Result of General Meeting,

Total Voting Rights

and

Directorate Change

SRT, the AIM-quoted developer and supplier of maritime surveillance systems and navigation safety products, is pleased to announce that at the Company's General Meeting held earlier today, all resolutions were duly passed on a poll.

The table below sets out the results of the poll at the General Meeting, including the number of votes for and against each of the resolutions proposed, and the number of votes withheld:

Resolution	Votes for	%	Votes against	%	Votes Withheld
Resolution 1: Authority to allot New Ordinary Shares in connection with the Fundraising and the Redemption and to issue the Additional Warrants	113,950,542	99.89%	123,054	0.11%	46,647
Resolution 2: Disapplication of pre-emption rights in connection with the Fundraising, the Redemption and the Additional Warrant Issue	113,816,744	99.76%	276,949	0.24%	26,550
Resolution 3: General authority to allot shares and grant rights to subscribe for, or convert any security into, ordinary shares	113,940,683	99.88%	132,913	0.12%	46,647
Resolution 4: General power to disapply pre-emption rights in connection with the general authority at Resolution 3	113,737,963	99.69%	355,730	0.31%	26,550

Votes withheld are not votes in law and so have not been included in the calculation of the proportion of votes for and against a resolution. Any proxy appointments giving discretion to the Chairman have been included in the "For" totals.

Completion of the Fundraising and the Redemption remains conditional upon Admission, which is expected to occur on 3 December 2024.

Defined terms in this announcement shall have the same meaning as set out in the Company's circular dated 14 November 2024, available on the Company's website at www.srt-marine.com/investors/  for the purposes of AIM Rule 26.

Total Voting Rights

Following Admission on 3 December 2024, the Company's issued ordinary share capital will comprise 249,862,656 Ordinary Shares, none of which are held in treasury. The above figure of 249,862,656 may be used by Shareholders 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 voting rights of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Directorate Change

SRT is pleased to advise that further to its announcement on 28 October 2024, Oliver Plunkett has now been appointed as a Non-Executive Director with immediate effect.

Oliver trained as a Barrister and practised in criminal law for several years before switching to work in financial services. He joined Ocean Infinity initially in a legal and financial role before becoming CEO in 2017. Oliver is also on the board of several companies and charitable foundations. 

Oliver will serve as board representative of Ocean Infinity Group Limited ("Ocean Infinity"), where he is a board member and CEO, and which is a 15.25 per cent shareholder following Admission of the new Ordinary Shares pursuant to the Fundraising recently announced by the Company.

-Ends-

For further information:

Contacts:
SRT Marine Systems plc	www.srt-marine.com  + 44 (0) 1761 409500
Simon Tucker (CEO)	[e-mail]
Louise Coates (Marketing Manager)	[e-mail]
Cavendish Capital Markets Limited
Jonny Franklin-Adams / Teddy Whiley / Finn Gordon (Corporate Finance)	[phone]
Tim Redfern, Ondraya Swanson (ECM)

The following information regarding the appointment of Oliver Plunkett, aged 52, is disclosed under Schedule 2(g) of the AIM Rules for Companies:

Current directorships and/or partnerships:	Former directorships and/or partnerships (within the last five years):
Speldhurst Services Limited	Ocean Infinity Services Limited
Ocean Infinity Innovations Limited	The Willo Brands Company Ltd.
Apsley House Holdings Limited	Willostix Cricket Academy LLP
The Online Sports Store Limited	Geoteqnics Ltd
The Cricket Store Ltd	Oxgeotech Ltd
Armada International LLC	M-Geo Ltd
Geowynd Ltd	Ambrey International Limited
Stitching the Flotilla Charitable Foundation	Ambrey Offshore Limited
Stitching the Elba Charitable Foundation	Bachawy Limited
Maritime Archaeology Consultants Switzerland AG
ACG Limited
Ocean Infinity Group Limited
Ocean Infinity (Offshore) AB
Reach The World
Ocean Infinity (Portugal) SA
Ocean Infinity Solutions Corp
Ocean Infinity Pte Ltd
Ocean Infinity Operations Pte Ltd
OI7801 Pte Ltd
Ocean Infinity Group Holding AB
Ocean Infinity AB
Ocean Infinity Nearshore AB
Ocean Infinity Inc
Ocean Infinity America Inc
Ocean Infinity (Australia) Pty Ltd
ACG Americas Inc
ACG Americas II Inc
ACG Americas III Inc
Series Investment Holdings Inc

The Cricket Store Limited entered creditor's voluntary liquidation on 13 June 2024 whilst Oliver Plunkett was a Director.

Mr Plunkett owns 425,000 Ordinary Shares in the Company in a personal capacity, representing 0.17 per cent of the Issued Share Capital following admission of the new Ordinary Shares as announced on 14 November 2024.

There are no further disclosures to be made under Schedule 2(g) of the AIM Rules for Companies.

 

END