Exercise of Warrants and Funding Update

RNS Number : 1780F

Remote Monitored Systems PLC

12 November 2020

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

12 November 2020

Remote Monitored Systems plc ("RMS" or the "Company")

Exercise of Warrants and Funding Update

The Company announces that on 12 November 2020, it received notification to exercise a total of 21,200,000 warrants over ordinary shares in the Company at an exercise price of 0.5p per warrant. The consideration received by the Company was £106,000.

The 21,200,000 new Ordinary Shares ("Warrant Shares") arising from the exercise of these warrants have been issued, and application has been made for them to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence at 8:00 a.m. on or around 18 November 2020.

Following Admission, the Company will have 1,573,270,231 ordinary shares of 0.01p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 1,573,270,231.

The above figure of  1,573,270,231 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 and Transparency Rules.

Funding Update

The Company has noted speculation regarding a possible fundraising by the Company. The Company has as previously announced both settled its convertible loan note debts and completed the admission, following exercise, of all outstanding warrants save for a remainder of 10,000,000 warrants or 0.64% of its issued share capital following Admission of the Warrant Shares.The Company has thereby raised additional funds in excess of £900,000 via recent warrant exercises.  As such the Directors do not foresee any current need to raise further funds.

ENQUIRIES:

Remote Monitored Systems plc

Trevor Brown (Executive Director)                                                                [phone]

Paul Ryan (Non-Executive Chairman)    [phone]

SP Angel Corporate Finance LLP                                                                          [phone]

Nominated Adviser and joint broker            

Stuart Gledhill

Caroline Rowe

Peterhouse Capital Limited                                                                                  [phone]

Joint broker 

Lucy Williams

Duncan Vasey

 

END

 

 

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