Trakm8 Hldgs Regulatory News (TRAK)

7 Jan 2008 12:14

Trakm8 Holdings PLC07 January 2008 TRAKM8 HOLDINGS PLC ("Trakm8" or "the Group") CONVERSION OF LOAN STOCK Trakm8, (AIM: TRAK), one of the UK's leading telematics technology and serviceproviders to the global vehicle tracking and security markets, is pleased toannounce that application has been made for the admission ("Admission") totrading on AIM for 2,044,610 additional new ordinary shares of 1p each in theCompany ("Shares") following the receipt of notices to exercise from the holdersof the Loan Stock. The total value of the Loan Stock is £522,500 (inclusive of £22,500 accruedinterest). All Loan Stock will be converted to new ordinary shares of 1p each.Under the terms of the Loan Stock Agreement, the conversion price has beencalculated by reference to a price of 26.9p per Share, resulting in a conversionprice of 25.55p per share. Upon issue, the new Shares will rank pari passu with the Company's existingissued Shares, and dealings are expected to commence on 10th January 2008. DIRECTORS' INTERESTS Mr J Watkins, non-executive Director, has an interest through his SIPP in£272,000 nominal of the Loan Stock being converted. Mr J Watkins did not holdany shares in the Group prior to this announcement. Following Admission MrWatkins' interest will comprise 1,066,328 Shares, representing approximately7.9% of the Group's enlarged issued share capital. Mr C Knapton, executive Director's direct interest will remain at 1,372,791Shares. In addition Mr C Knapton holds a beneficial interest in 212,374 Sharesthrough a SIPP and his spouse holds a direct interest in 131,856 Shares giving atotal interest in 12.7% of the Company's enlarged share capital. Mr M Cowley, executive Director's interest will remain at 773,178 Shares andwill now represent approximately 5.72% of the Company's enlarged issued sharecapital. Mr T Cowley, executive Director's interest will remain at 759,756 Shares andwill now represent approximately 5.62% of the Company's enlarged issued sharecapital. Mr T Couling, executive Director's interest will remain at 37,520 Shares andwill now represent approximately 0.28% of the Company's enlarged issued sharecapital. TOTAL VOTING RIGHTS Following Admission, the Company's enlarged issued share capital willcomprise 13,517,033 ordinary shares with voting rights. The Company does nothold any shares in treasury. This figure of 13,517,033 ordinary shares may beused by shareholders in the Company as the denominator for the calculations bywhich they will determine if they are required to notify their interest in, or achange in their interest in, the share capital of the Company under the FSA'sDisclosure and Transparency Rules. END For further information please contact: Trakm8 Holdings PLC 0870 380 0531Cary Knapton, Chief Executive Officer Tim Couling, Finance Director Arbuthnot Securities 020 7012 2000Paul Vanstone Tavistock Communications 020 7920 3150Simon HudsonPaul Youens About Trakm8 Trakm8, based in Shaftesbury, Dorset is a leading technology provider, designerand developer of hardware and software to the vehicle tracking and securitymarket. The Company distributes its hardware and software worldwide through anetwork of distributors. In addition, the Company provides ASP vehiclemonitoring and tracking services direct to the B2B market. Trakm8's productsallow vehicles and drivers to be monitored, allowing organisations to managedeliveries and services, or track stolen vehicles down to 5 metres. This information is provided by RNS The company news service from the London Stock Exchange