Starcom PLC Issue of Equity (5640D)

TIDMSTAR

RNS Number : 5640D

Starcom PLC

27 April 2017

Starcom Plc

("Starcom" or "the Company")

Issue of equity

Starcom (AIM: STAR), which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets and people, announces that it has issued and allotted a total of 5,007,037 new Ordinary Shares of no par value ("the New Shares").

4,460,304 of the New Shares were issued at a price of 1.75p per share in respect of the conversion of the Founder Shareholders' Loan of $100,000 as proposed in the Company's recent Chairman's Statement, and 546,733 of the New Shares were issued at a price of 1.5p per share in respect of the exercise of options granted to Northland Capital Partners Limited in connection with the Company's placing in March 2016.

Following the issue of the New Shares, the Directors and co-founders will have the following interests in the Ordinary Shares of the Company:

 
                         Existing      New Shares     Enlarged         % of 
                        shareholding                 shareholding    voting 
                                                                     rights 
--------------------  --------------  -----------  --------------  -------- 
 Avi Hartmann             20,711,168    1,486,768      22,197,936     14.06 
--------------------  --------------  -----------  --------------  -------- 
 Avi Engel                   498,334            -         498,334      0.32 
--------------------  --------------  -----------  --------------  -------- 
 Michael Rosenberg*        1,395,000            -       1,395,000      0.88 
--------------------  --------------  -----------  --------------  -------- 
 Uri Hartman              22,111,166    1,486,768      23,597,934     14.95 
--------------------  --------------  -----------  --------------  -------- 
 Doron Kedem              22,111,166    1,487,768      23,597,934     14.95 
--------------------  --------------  -----------  --------------  -------- 
 

* Mr Rosenberg's shares are held through his personal pension plan of which he is the sole beneficiary.

Application has been made for the New Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on or around 3 May 2017.

Total voting rights

Following Admission, the Company's enlarged issued share capital will comprise 157,837,717 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares with voting rights will be 157,837,717. 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

-ends-

For further information, please contact:

Starcom Plc

Michael Rosenberg, Chairman 07785 727 595

Avi Hartmann, CEO [phone]

[phone]

Northland Capital (Nomad and Broker) 020 3861 6625

Edward Hutton / David Hignell (Corporate Finance)

John Howes (Sales and Broking)

   Peterhouse Corporate Finance (Joint Broker)                                           020 7469 0930 

Lucy Williams / Charles Goodfellow / Eran Zucker

Leander PR (Financial PR) 020 7520 9267

Christian Taylor-Wilkinson 07795 168 157

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 27, 2017 08:00 ET (12:00 GMT)