T42 IOT Tracking Solutions PLC Exercise of warrants

TIDMTRAC

RNS Number : 4225E

T42 IOT Tracking Solutions PLC

11 March 2022

t42 IoT Tracking Solutions PLC

("t42" or the "Company")

Exercise of warrants - Director shareholding

t42 (AIM: TRAC), the real-time tracking, security and monitoring solutions provider for the global container and freight market, announces that 500,000 ordinary shares of no par value ("Ordinary Shares") are being issued at a price of 12p per share following the exercise of warrants by Avi Hartmann, Igor Vatenmacher, Michael Rosenberg and a t42 employee. The warrants were granted in connection with the loans entered into with the Company announced on 25 March 2020.

Application will be made for the new Ordinary shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is anticipated that Admission will become effective at 8.00 a.m. on or around 16 March 2022.

Following the issue of the new Ordinary Shares, the respective directors will have the following interests in the Company's enlarged issued share capital:

 
                    Following the issue of the new Ordinary Shares 
 Director             Number of Ordinary      Percentage of issued 
                             Shares held    ordinary share capital 
 Avi Hartmann                  5,581,528                    10.53% 
 Igor Vatenmacher                393,000                     0.74% 
 Michael Rosenberg             2,278,299                     4.30%

The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation is appended below.

Total voting rights

On Admission, the Company's enlarged issued share capital will comprise 53,026,822 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares with voting rights in the Company will be 53,026,822. 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 voting rights of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Contacts:

 
 t42 IoT Tracking Solutions PLC 
  Michael Rosenberg, Chairman                        07785 727595 
  Avi Hartmann, CEO                                  +972 5477 35663 
 Allenby Capital Limited (AIM Nominated Adviser 
  and Joint Broker) 
  Jeremy Porter/Piers Shimwell                     020 3328 5656 
 Peterhouse Capital Limited (Joint Broker) 
  Lucy Williams/Charles Goodfellow/Eran Zucker     020 7469 0930 
 Yellow Jersey PR (Financial PR)                   020 3004 9512 
  Tom Randell/Henry Wilkinson/Annabelle Wills       t42@yellowjerseypr.com

Notes to Editors

t42 IoT Tracking Solutions plc (AIM: TRAC), formerly Starcom Systems plc, provides real-time tracking, analysis, monitoring and security IoT solutions for the global container and freight market and covers 55 countries, over 100 distributors and 50 logistics and support partners.

t42's multi-sensor IoT tracking devices use a wide range of detection capabilities with cloud-based analytics and alerts, with real-time data transmission, analysis and actionable insights. Its devices are used by ports, cargo owners, shipping companies, freight forwarders, insurance companies, customs authorities and homeland security and police for end-to-end global container tracking and digital transformation of shipments.

   For more information on the Company, please visit:   www.t42.co.uk/

Information required pursuant to rule 26 of the AIM Rules for Companies can be found at www.starcomsystems.com

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                             Avi Hartmann (CEO) 
                                        Igor Vatenmacher (CFO) 
                                        Michael Rosenberg (Chairman) 
     -------------------------------  ------------------------------------------- 
 2.   Reason for the Notification 
     ---------------------------------------------------------------------------- 
 a)   Position/status                  See 1a) above 
     -------------------------------  ------------------------------------------- 
 b)   Initial notification/Amendment   Initial Notification 
     -------------------------------  ------------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ---------------------------------------------------------------------------- 
 a)   Name                             T42 IoT Tracking Solutions PLC 
     -------------------------------  ------------------------------------------- 
 b)   LEI                              213800XVU7WF3QMF4826 
     -------------------------------  ------------------------------------------- 
 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                      Ordinary shares of no par value 
       of the Financial 
       instrument, 
       type of instrument 
      Identification                   ISIN: JE00BKVDPL34 
       code 
     -------------------------------  ------------------------------------------- 
 b)   Nature of the                    Exercise of warrants 
       transaction 
     -------------------------------  ------------------------------------------- 
 c)   Price(s) and                     Director/PDMR        Price(s)   Volume(s) 
       volume(s)                        Avi Hartmann         12p        200,000 
                                                            ---------  ---------- 
                                        Igor Vatenmacher     12p        50,000 
                                                            ---------  ---------- 
                                        Michael Rosenberg    12p        200,000 
                                                            ---------  ---------- 
     -------------------------------  ------------------------------------------- 
 d)   Aggregated information: 
       - Aggregated                      450,000 
       volume                            N/A 
       - Price 
     -------------------------------  ------------------------------------------- 
 e)   Date of the                      10 March 2022 
       transaction 
     -------------------------------  ------------------------------------------- 
 f)   Place of the                     Outside a trading venue 
       transaction 
     -------------------------------  -------------------------------------------

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END

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March 11, 2022 02:00 ET (07:00 GMT)

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