Result of Oversubscribed Placing

SRT Marine Systems PLC

14 April 2026

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED WITHIN IT (THIS "ANNOUNCEMENT") IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES,  AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL ("RESTRICTED JURISDICTION").

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER IN ANY RESTRICTED JURISDICTION.

Capitalised terms not otherwise defined herein shall have the meanings given to them in the announcement made by SRT Marine Systems plc on 13 April 2026 at 4:35 p.m. (the "Launch Announcement"), unless the context requires otherwise.

For immediate release

SRT MARINE SYSTEMS PLC

("SRT" or the "Group")

Result of Oversubscribed Placing

SRT Marine Systems plc (AIM: SRT), the AIM-quoted developer and supplier of sovereign civil defence maritime intelligence and surveillance systems, and navigation safety and efficiency solutions, is pleased to announce that further to the Launch Announcement, the Accelerated Bookbuild has closed. Due to significant over-demand, the Company has conditionally raised gross proceeds of approximately £16.0 million through the successful placing of 17,682,927 Placing Shares and 1,829,268 Subscription Shares, each at the Issue Price of 82 pence per New Ordinary Share.

In addition to the Placing and the Subscription, the Company is also providing Retail Investors with the opportunity to subscribe for an aggregate of up to 1,219,512 Retail Shares at the Issue Price, to raise up to approximately £1.0 million (before expenses). The Retail Offer is due to close at 12:00 p.m. on 15 April and the results of the Retail Offer will be announced separately thereafter.

Assuming full uptake of the Retail Offer, the gross proceeds of the Fundraising are expected to be up to approximately £17.0 million (before expenses) through the issuance of up to 20,731,707 New Ordinary Shares. Following Admission, the enlarged share capital is expected to be 272,352,363 Ordinary Shares ("Enlarged Share Capital"). The New Ordinary Shares will represent approximately 7.61 per cent. of the Enlarged Share Capital and the Existing Ordinary Shares will represent approximately 92.39 per cent. of the Enlarged Share Capital.  

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

	2026
Announcement Results of Retail Offer	15 April
Admission and commencement of dealings in the New Ordinary Shares on AIM, and Settlement Date	17 April
New Ordinary Shares in uncertificated form expected to be credited to accounts in CREST (uncertificated holders only)	17 April
Expected date of dispatch of definitive share certificates for the New Ordinary Shares in certificated form (certificated holders only)	Within 10 business days of Admission
Long Stop Date	29 May

 Notes

1.     Each of the times and dates in the above timetable is subject to change at the absolute discretion of the Company (with the agreement of Cavendish). If any of the above times and/or dates change, the revised times and/or dates will be notified to Shareholders by way of an announcement through a Regulatory Information Service.

2.     References to time in this document are to London time.

Admission

The Placing, Subscription and Retail Offer are conditional upon, inter alia, Admission becoming effective.

The New Ordinary Shares will, when issued, be credited as fully paid and rank pari passu with the Existing Ordinary Shares.

Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM and, subject to the Placing Agreement not having been terminated in accordance with its terms, it is expected that Admission will become effective and trading in the New Ordinary Shares will commence at 8.00 a.m. on 17 April 2026.

The total voting rights as of Admission will be announced separately with the results of the Retail Offer.

Enquiries:

Contacts:
SRT Marine Systems plc	www.srt-marine.com  + 44 (0) 1761 409500
Simon Tucker (CEO)	[e-mail]
Kevin Finn (Chairman) Nora Alakshan (Corporate Communications Manager) Julian Collett (Director of Capital Markets Strategy)	[e-mail] [e-mail] [e-mail]
Cavendish Capital Markets Limited (NOMAD & Broker)
Jonny Franklin-Adams / Teddy Whiley / Finn Gordon (Corporate Finance)		[phone]
Sunila de Silva (Corporate Broking)
Boscobel & Partners (Media Contact) George Trefgarne / Tabitha Owers	[e-mail] [phone]

 

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