SRT Marine Systems PLC Issue of Equity (2484P)

TIDMSRT

RNS Number : 2484P

SRT Marine Systems PLC

15 November 2016

15 November 2016

SRT MARINE SYSTEMS PLC

("SRT", the "Company" or the "Group")

Issue of Equity

The Directors of SRT announce that they have issued and allotted 20,000 new ordinary shares of 0.1p each in the Company following the conversion of employee share options in the Company at an exercise price of 26p per share.

Application has been made for the new shares to be admitted to trading on AIM which is expected to occur on 21 November 2016.

Following the issue of the new shares, there are 127,612,419 ordinary shares of 0.1p of SRT in issue with each share carrying the right to one vote. This is the total voting rights figure 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.

 
 Contacts 
 SRT                          [phone] 
  Simon Tucker, CEO            [e-mail] 
  Louise Coates, Marketing     [e-mail] 
  Manager 
 WH Ireland Limited 
  Tim Feather                  [phone] 
  Ed Allsopp                    [phone] 
 

Notes to Editors

SRT develops, manufactures and supplies maritime tracking technology and turn-key system solutions to marine stakeholders across the globe. The Company's products and solutions are used by individual vessel owners, port authorities, maritime infrastructure owners, coast guards and national security agencies to enhance their maritime domain awareness. 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.

In the early 2006, SRT was the first company to develop a low cost technology platform supporting the International Maritime Organisation (IMO) adopted data communications technology, AIS (Automatic Identification System). This technology transmits vessel type, current co-ordinates, course and speed, and the vessel's unique identifier, in real time - air traffic control for boats. As a result of a global IMO sponsored mandate for the use of AIS, today AIS is being adopted and implemented worldwide in marine market as the next generation of radar. SRT's systems are entirely developed in the UK with 95% of revenues derived from exports.

With circa 26 million vessels operational globally and a growing demand from national authorities enforcing vessels operating in their waters to fit AIS as standard, SRT, the leading global provider of AIS technology, is at the forefront of a rapidly developing and evolving multi-billion dollar maritime market.

www.softwarerad.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

IOEFFSFLIFMSELF

(END) Dow Jones Newswires

November 15, 2016 10:00 ET (15:00 GMT)