Terms of Loan Note Refinancing

RNS Number : 7129Q

SRT Marine Systems PLC

08 June 2018

 

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

Terms of Loan Note Refinancing

Further to the Company's announcement on 30^th May 2018, SRT can confirm that the terms of the new three year loan notes of £1.15 million that replace the short term loan notes of the same value are as follows:

The loan notes may be repaid at any time within their three year term for a 0.5% early redemption fee and an annualised coupon of 8% payable quarterly on the outstanding amounts.

The loan note refinancing was arranged by LGB Corporate Finance. 

Contacts:
SRT Marine Systems plc		www.srt-marine.com + 44 (0) 1761 409500
Simon Tucker (CEO)		[e-mail]
Louise Coates (Marketing Manager)		[e-mail]
finnCap Ltd
Jonny Franklin-Adams / Simon Hicks (Corporate Finance)		[phone]
Tim Redfern / Richard Chambers (Equity Capital Markets)

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.

 

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