Business
Placing
Placing.
About this update from Srt Marine Systems Plc
[{"type":"text","content":"\n \nRNS Number : 5037L Software Radio Technology PLC 04 July 2014 \n \n\nSOFTWARE RADIO TECHNOLOGY PLC\n(AIM: SRT)\n(\"SRT\" or the \"Company\")\n \n \nSRT, the AIM-quoted provider of maritime domain awareness technologies, products and solutions, is pleased to announce that it has conditionally raised £1.52 million, before expenses, through a placing of new ordinary shares at a price of 18p per share (the \"Placing\").\n \nThe funds raised will provide SRT with additional working capital to support stock procurement for expected forthcoming orders.\n \nThe Placing\n \nThe Company, through its broker, W H Ireland Limited, has conditionally placed 8,450,000 new ordinary shares (the \"Placing Shares\") at 18p per share, raising approximately £1.52 million (before expenses).\n \nSimon Tucker, Chief Executive Officer of SRT, will be subscribing for 267,440 Placing Shares. Following completion of the Placing, Mr. Tucker's beneficial interest in the Company will be 1,207,440 ordinary shares of 0.1p each, representing 0.95% of the enlarged issued share capital.\n \nApplication has been made for the Placing Shares to be admitted to trading on AIM which is expected to take place on 8 July 2014.\n \nFollowing the Placing, there will be 127,452,419 ordinary shares of 0.1p each in issue.\n \n\n\n\n\n \n \nContacts:\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nSoftware Radio Technology plc\n\n\n\n\n\n \n\n\n\n\nSimon Tucker, Chief Executive Officer\n\n\n+44 (0) 1761 409500\n\n\n \n\n\n\n\n\n\n\[email protected]\n\n\n \n\n\n\n\nWH Ireland Limited\n\n\n\n\n\n \n\n\n\n\nTim Feather\n \nYellow Jersey PR\nAnna Legge / Dominic Barretto\n\n\n+44 (0) 20 7220 1666\n \n+44 (0) 7747 788221\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n \nAbout SRT:\n \nThe SRT plc group develops and provides AIS based maritime domain awareness technologies, technologies, products and systems. Our solutions are used around the world in a variety of applications ranging from vessel tracking to port and infrastructure security. For more information visit www.softwarerad.com \n \nAbout AIS:\n \nAIS (Automatic Identification System) is an international maritime domain awareness technology invented and globally proliferated by the IMO...