Result of Oversubscribed Retail Offer

SRT Marine Systems PLC

15 April 2026

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY,  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.

TERMS NOT OTHERWISE DEFINED HEREIN SHALL HAVE THE MEANINGS GIVEN TO THEM IN THE COMPANY'S ANNOUNCEMENT RELEASED ON 13 APRIL 2026 UNLESS THE CONTEXT REQUIRES OTHERWISE.

15 April 2026

SRT MARINE SYSTEMS PLC

("SRT" or the "Company")

Result of Oversubscribed Retail Offer

The Board of SRT Marine Systems plc (the "Company") is pleased to announce that the Retail Offer which launched on 13 April 2026, which was multiple times oversubscribed, has now closed. Accordingly, the Company has elected to increase the scale of the Retail Offer to raise in aggregate £1.5 million through the issuance of 1,829,268 Retail Offer Shares at an issue price of 82 pence per New Ordinary Share.

Allocations were made to existing shareholders applying the principles of soft pre-emption. Given the significant demand, shareholders were allocated 100% of their soft pre-emptive allowance⁽¹⁾ when their order matched or exceeded their soft pre-emptive allowance. Where the order was greater than the soft pre-emptive allowance, shareholders received c.18.69 per cent of their additional demand⁽²⁾.

Following the close of the Retail Offer, the Company has conditionally raised total gross proceeds of approximately £17.5 million at the Issue Price pursuant to the Fundraising. Accordingly, 21,341,463 New Ordinary Shares in the Company will be issued pursuant to the Fundraising, conditional on Admission.

Director/PDMR Shareholding

Pursuant to the terms of the Subscription, as previously notified, Ocean Infinity has subscribed for 1,829,268 New Ordinary Shares at the Issue Price.

Oliver Plunkett, Non-Executive Director of SRT, is also a board member of and CEO of Ocean Infinity, the Company's largest shareholder, where he has a beneficial interest and is therefore also deemed to have an indirect beneficial interest in Ocean Infinity's entire legal holding in SRT.

Following Ocean Infinity's subscription, Mr Plunkett has a direct beneficial interest in 595,000 Ordinary Shares, representing 0.22 per cent. of the Company's enlarged issued share capital and an indirect beneficial interest, via Ocean Infinity, in 39,943,422 Ordinary Shares, representing 14.63 per cent of Company's enlarged issued share capital.

Admission and Total Voting Rights

Application has been made for the 21,341,463 New Ordinary Shares, comprising the Placing Shares, the Subscription Shares and the Retail offer Shares, to be admitted to trading on AIM. Admission is expected to occur by no later than 8.00 a.m. on 17 April 2026.

Immediately upon Admission, the Company's issued ordinary share capital will comprise 272,962,119 Ordinary Shares. Each Ordinary Share has one voting right and no Ordinary Shares are held in treasury. The above figure of 272,962,119 may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the voting rights of the Company under the FCA's Disclosure Guidance and Transparency Rules.

(1)   Soft Pre-emptive allowance Calculation: Existing shares x 8.48% (Dilution from total new shares being issued) = Soft Pre-emptive allowance allocation shares

(2)   Additional Demand: (Total Order shares - Soft Pre-emptive allowance allocation shares) x c.18.69% = Additional demand allocation shares

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)	[e-mail]
George Trefgarne / Tabitha Owers	[phone]

About SRT Marine Systems plc:

SRT Marine Systems PLC ("SRT") is a global provider of civil defence maritime intelligence and surveillance systems, as well as navigation safety and efficiency solutions. Our systems provide MDA intelligence that enables sovereign agencies such as coast guards and fishery authorities to adopt a new nationwide intelligence-led operations doctrine which is highly effective and efficient for maritime safety and security. Our navigation safety systems enable vessel operators to navigate digitally more safely and efficiently. Our customers range from government agencies such as coast guards, fishery authorities and ports & waterway authorities, to commercial and leisure vessel owners. 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Oliver Plunkett
2.	Reason for the Notification
a)	Position/status	Non-Executive Director
b)	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	SRT Marine Systems plc
b)	LEI	2138002DF3KFXL472938
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Purchase by Ocean Infinity of 1,829,268 Ordinary Shares in the Company
	Identification code	ISIN - GB00B0M8KM36
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Type Price(s) Volume(s) Purchase of Ordinary Shares £0.82 1,829,268
d)	Aggregated information: · Aggregated volume · Price	See 4c) above 1,829,268 Ordinary Shares purchased at a price of £0.82 pence each.
e)	Date of the transaction	13 April 2026
f)	Place of the transaction	LSE

 

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