Starcom PLC Placing (9992P)

TIDMSTAR

RNS Number : 9992P

Starcom PLC

24 November 2016

24 November 2016

Starcom Plc

("Starcom" or the "Company")

Placing

Starcom (AIM: STAR), the AIM technology company specialising in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets and people, announces that, in response to investor demand, the Company has conditionally placed 5,000,000 new Ordinary Shares (the "Placing Shares") with new and existing shareholders at a price of 3p per Placing Share to raise GBP150,000 before expenses (the "Placing"). The Placing Shares were placed by Peterhouse Corporate Finance Limited as the Company's joint broker.

The proceeds of the Placing will be used to provide the Company with additional working capital. Since the placing announced on 21 October 2016, trading has been in line with the Board's expectations.

The Placing

The issue of the Placing Shares is conditional, inter alia, on admission to trading on AIM ("Admission") which is expected to occur at 8.00 am on 29 November 2016. On Admission, the Placing Shares will rank pari passu with the Company's existing Ordinary Shares.

Total voting rights

Following Admission, the Company's enlarged issued share capital will comprise 152,830,680 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares with voting rights will be 152,830,680. 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.

Directors and co-founders' interests

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

 
                       Ordinary Shares   % of voting rights 
 Avi Hartmann               20,711,168                 13.6 
 Avi Engel                     498,334                  0.3 
 Michael Rosenberg*          1,395,000                  0.9 
 Uri Hartman                22,111,166                 14.5 
 Doron Kedem                22,111,166                 14.5 
 

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

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

-ends-

For further information, please contact:

Starcom Plc

Michael Rosenberg, Chairman 07785 727 595

Avi Hartmann, CEO [phone]

[phone]

Northland Capital Partners Limited

(Nominated Adviser and Broker) 020 3861 6625

Edward Hutton / David Hignell (Corporate Finance)

John Howes / Abigail Wayne (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 information is provided by RNS

The company news service from the London Stock Exchange

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November 24, 2016 02:00 ET (07:00 GMT)