TIDMTRAC

RNS Number : 2532Q

T42 IOT Tracking Solutions PLC

16 October 2023

16 October 2023

t42 IoT Tracking Solutions plc

Director/PDMR dealings

T42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), the provider of global shipping containers tracking solutions, notifies the following transactions by Directors and senior management in ordinary shares of no-par value each in the capital of the Company ("Ordinary Shares").

Avi Hartmann and Igor Vatenmacher, each an executive director, and Uri Hartmann, CTO, have subscribed for an aggregate 360,000 new Ordinary Shares at 3.5 pence per shares, for gross proceeds of GBP12,600 to the Company ("Subscription"). The Subscription price represents a premium of approximately 14.38 per cent. to the mid-market closing price on AIM of 3.06 pence per Ordinary Share on 13 October 2023, being the latest practicable business day prior to the date of this announcement.

While only a small investment, given ongoing events in Israel, the preference was to subscribe for new Ordinary Shares to demonstrate confidence of management during these difficult times.

In addition, Michael Rosenberg, Non-Executive Chairman, and Martin Blair, Non-Executive Director have exercised 279,070 and 251,163 options over Ordinary Shares, respectively, pursuant to the options granted to them under the Company's share option scheme in lieu of salary and fees, as announced on 23 June 2021 and 15 July 2021. The options were exercisable at nil cost and will be satisfied by the issue of 530,233 new Ordinary Shares (the "Option Shares").

These transactions are set out in the table below.

 
 Name                 No. of Subscription   No. of Option   Total no. of         Percentage 
                       Shares to be          Shares to be    Ordinary Shares      of issued share 
                       issued                issued          held on Admission    capital of 
                                                                                  the Company 
                                                                                  held on Admission 
 Avi Hartmann         180,000                               5,761,528            10.49 
                     --------------------  --------------  -------------------  ------------------- 
 Igor Vatenmacher     60,000                                453,000              0.82 
                     --------------------  --------------  -------------------  ------------------- 
 Uri Hartmann 
  (PDMR)              120,000                               3,069,742            5.59 
                     --------------------  --------------  -------------------  ------------------- 
 Michael Rosenberg                          279,070         2,557,369            4.66 
                     --------------------  --------------  -------------------  ------------------- 
 Martin Blair                               251,163         577,413              1.05 
                     --------------------  --------------  -------------------  ------------------- 
 

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for 890,233 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the new Ordinary Shares on AIM will commence at 8.00 a.m. on or around 19 October 2023.

On Admission, the Company's issued share capital will consist of 54,917,055 Ordinary Shares, each with one voting right. There are no shares held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights will be 54,917,055 and this figure may be used by shareholders following Admission 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 Company under the FCA's Disclosure Guidance and Transparency Rules.

Contacts:

 
 t42 IoT Tracking Solutions PLC 
  Michael Rosenberg, Chairman                       07785 727595 
  Avi Hartmann, CEO                                  +972 5477 35663 
 Strand Hanson Limited (Nominated Adviser 
  and Financial Adviser) 
  James Harris/ Richard Johnson/ Robert Collins    020 7409 3494 
 Peterhouse Capital Limited 
  Lucy Williams/Charles Goodfellow/Eran Zucker     020 7469 0930 
 

Notes to Editors

t42 IoT Tracking Solutions plc (AIM: TRAC), formerly Starcom Systems plc, provides real-time tracking, analysis, monitoring, and security IoT solutions for the global container and freight market and covers 55 countries, over 100 distributors, and 50 logistics and support partners.

t42's multi-sensor IoT tracking devices use a wide range of detection capabilities with cloud-based analytics and alerts, with real-time data transmission, analysis, and actionable insights. Its devices are used by ports, cargo owners, shipping companies, freight forwarders, insurance companies, customs authorities, homeland security, and police for end-to-end global container tracking and digital transformation of shipments.

For more information on the Company, please visit: www.t42.co.uk/ .

PDMR Notification Form:

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                                   1) Avi Hartmann 
                                              2) Igor Vatenmacher 
                                              3) Uri Hartmann 
     --------------------------------  ------------------------------------------ 
 2.   Reason for the Notification 
     ---------------------------------------------------------------------------- 
 a)   Position/status                   1) Chief Executive Officer 
                                         2) Chief Financial Officer 
                                         3) PDMR (CTO) 
     --------------------------------  ------------------------------------------ 
 b)   Initial notification/amendment    Initial notification 
     --------------------------------  ------------------------------------------ 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ---------------------------------------------------------------------------- 
 a)   Name                              t42 IoT Tracking Solutions plc 
     --------------------------------  ------------------------------------------ 
 b)   LEI                               213800XVU7WF3QMF4826 
     --------------------------------  ------------------------------------------ 
 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      Ordinary shares of no-par value each 
       instrument, type of instrument    in the share capital of t42 IoT Tracking 
                                         Solutions plc 
     --------------------------------  ------------------------------------------ 
      Identification code               JE00BKVDPL34 
     --------------------------------  ------------------------------------------ 
 b)   Nature of the Transaction         Participation in Subscription of new 
                                         Ordinary Shares 
     --------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)             Price(s)   Volume(s) 
                                          1) 3.5p    1) 180,000 
                                           2) 3.5p    2) 60,000 
                                           3) 3.5p    3) 120,000 
                                                    ------------ 
     --------------------------------  ------------------------------------------ 
 d)   Aggregated information            360,000 shares at 3.5p per share 
       Aggregated volume Price 
     --------------------------------  ------------------------------------------ 
 e)   Date of the transaction           16 June 2023 
     --------------------------------  ------------------------------------------ 
 f)   Place of the transaction          London Stock Exchange, AIM Market 
                                         (XLON) 
     --------------------------------  ------------------------------------------ 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              1) Michael Rosenberg 
                                         2) Martin Blair 
     --------------------------------  ------------------------------------------ 
 2.   Reason for the Notification 
     ---------------------------------------------------------------------------- 
 a)   Position/status                   1) Non-Executive Chairman 
                                         2) 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                              t42 IoT Tracking Solutions plc 
     --------------------------------  ------------------------------------------ 
 b)   LEI                               213800XVU7WF3QMF4826 
     --------------------------------  ------------------------------------------ 
 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      Ordinary shares of no-par value each 
       instrument, type of instrument    in the share capital of t42 IoT Tracking 
                                         Solutions plc 
     --------------------------------  ------------------------------------------ 
      Identification code               JE00BKVDPL34 
     --------------------------------  ------------------------------------------ 
 b)   Nature of the Transaction         Exercise of Options 
     --------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)             Price(s)    Volume(s) 
                                          1) n/a      1) 279,070 
                                           2) n/a      2) 251,163 
                                                     ------------ 
     --------------------------------  ------------------------------------------ 
 d)   Aggregated information            n/a 
       Aggregated volume Price 
     --------------------------------  ------------------------------------------ 
 e)   Date of the transaction           16 June 2023 
     --------------------------------  ------------------------------------------ 
 f)   Place of the transaction          London Stock Exchange, AIM Market 
                                         (XLON) 
     --------------------------------  ------------------------------------------ 
 

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END

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October 16, 2023 06:15 ET (10:15 GMT)

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