Issue of Equity

RNS Number : 9719V

Software Radio Technology PLC

21 April 2016

 

SOFTWARE RADIO TECHNOLOGY PLC

(AIM: SRT)

("SRT" or the "Company")

Issue of Equity

The Directors of SRT announce that they have issued and allotted 30,000 new ordinary shares of 0.1p each in the Company following the conversion of employee share options in the Company at 18p per share.

Following the issue of the new shares, there are 127,542,419 ordinary shares of 0.1p of SRT in issue with each share carrying the right to one vote. Application will be made for the new shares to be admitted to trading on AIM which is expected to occur on 25 April 2016.

ENDS

Contacts:
Software Radio Technology plc	www.softwarerad.com + 44 (0) 1761 409500
Simon Tucker (CEO)	[e-mail]
Louise Coates (Marketing Manager)	[e-mail]
WH Ireland Limited	www.wh-ireland.co.uk
Tim Feather / Liam Gribben	[phone] [e-mail]
Bell Pottinger	[phone]
Anna Legge (PR) Elly Williamson Molly Stewart	[e-mail]

About SRT:

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. 

 

END

 

 

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