RMS.L Regulatory News (RMS)

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Remote Monitored Systems plc ("Remote Monitored Systems", the "Company" or the "Group")

Placing to raise £250,000; Directors' Participation; Total Voting Rights

Remote Monitored Systems plc, the AIM quoted survey, inspection and monitoring company, is pleased to announce the successful completion of a placing (the "Placing") to raise £250,000 to support the continuing growth of GyroMetric, to develop the new Intelligence and Security division, and to settle creditors and provide working capital to the Group.

Placing

A total of 62,500,000 ordinary shares of 0.2p nominal value each ("Placing Shares") have been placed with investors at 0.4p per share, a discount of approximately 27% to the closing mid-market price on 17 October 2019. The Placing Shares are due to be admitted to trading on or around 24 October 2019 with dealing commencing at 8:00 am.

Directors' Participation in the Placing

Trevor Brown, Executive Director of the Company, has subscribed £64,250 for 16,062,500 Shares. Following the issue of the Placing Shares, Trevor Brown will have a beneficial interest in 109,637,590 Shares representing approximately 22.3% of the enlarged issued share capital and total voting rights of the Company.

Paul Ryan, Non-Executive Director of the Company, has subscribed £48,250 for 12,062,500 Shares. Following the issue of the Placing Shares, Paul Ryan will have a beneficial interest in 44,794,270 Shares representing approximately 9.1% of the enlarged issued share capital and total voting rights of the Company.

Related Party Transaction

Trevor Brown and Paul Ryan as Directors of the Company, are considered to be "related parties" as defined under the AIM Rules and accordingly, their participation in the Placing constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules.

The Director independent of the Placing, being Nigel Burton (Non-Executive Chairman), considers, having consulted with the Company's nominated adviser, that the terms of Trevor's and Paul's participations in the Placing are fair and reasonable insofar as the Company's shareholders are concerned.

Total Voting Rights

Following the issue of the Placing Shares as described above totalling 62,500,000 ordinary shares, the issued share capital of the Company will consist of 492,156,790 ordinary shares. No shares were held in treasury at the date of this announcement. The total current voting rights in the Company are therefore 492,156,790.

The above figure of 492,156,790 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.