Srt Marine Sys. Regulatory News (SRT)

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED WITHIN IT (TOGETHER, THIS "ANNOUNCEMENT") IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA, COLLECTIVELY THE "UNITED STATES"), AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL ("RESTRICTED JURISDICTION").

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU AS IT FORMS PART OF THE LAW OF ENGLAND AND WALES BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

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

Defined terms used in this announcement have the meanings given to them in the 'Proposed Placing to raise up to £4.9 million' announcement released around 4:35 p.m. yesterday unless the context provides otherwise.

 SRT Marine Systems plc

(AIM: SRT)

("SRT" or the "Company")

Result of Placing,

Director Shareholding

and

Total Voting Rights

SRT Marine Systems plc ('SRT'), a global provider of integrated maritime surveillance systems and digital navigation safety transceivers, is pleased to announce that, further to the announcement made yesterday, the Company has concluded its Bookbuild process, successfully raising gross proceeds of £4.9 million through the Placing. The Company has placed 16,365,000 new Ordinary Shares at a price of 30 pence per new Ordinary Share with existing and new investors.

The Issue Price represents a discount of approximately 25% to the closing mid-market price of an Ordinary Share of 40 pence on 9 March 2022. The New Ordinary Shares will represent 9.06% of the Company's Enlarged Issued Share Capital.

finnCap acted as Broker to the Placing. The New Ordinary Shares issued pursuant to the Placing will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares at that time.

Directors Participation

Simon Tucker and Kevin Finn have subscribed for in aggregate 166,666 Placing Shares at the Issue Price raising gross proceeds of approximately £50,000.

On completion of the Placing, Simon Tucker and Kevin Finn will have the following resultant shareholdings:

Admission

The Placing is conditional, inter alia, upon the Admission becoming effective. Application has been made to the London Stock Exchange for the 16,365,000 New Ordinary Shares to be issued pursuant to the Placing 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 will commence at 8.00 a.m. on 16 March 2022.

Total Voting Rights

On Admission, the total number of Ordinary Shares in issue will be 180,676,939 and the total number of voting rights will therefore be 180,676,939. This figure 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

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