SRT Marine announces corrected share admission details

LONDON - SRT Marine Systems PLC (AIM:SRT), a global provider of maritime domain awareness systems, has corrected the number of new Ordinary Shares to be admitted to trading on AIM to 175,000. This announcement amends a previous statement released on Sunday, which contained an error in the share admission figure.

The correction follows the grant of share options and the exercise and sale of shares by executive director, Jean Francois Bonnin. On Thursday, Bonnin was granted options over 500,000 Ordinary Shares, exercisable at the company’s nominal value. These options are set to vest over a five-year period and are exercisable in four equal tranches upon reaching specific share price milestones.

Simultaneously, Bonnin exercised 175,000 options originating from a grant dated May 22, 2020, at an exercise price of 0.1p per share. The shares obtained through the exercise were then sold at an average price of 66.042p each, in part to satisfy tax obligations associated with the transaction.

Following these transactions, Bonnin holds 825,000 share options but does not own any Ordinary Shares in the company. In total, SRT Marine Systems has 11,935,000 share options in issue, which represent 4.8 percent of the company’s issued share capital.

The admission of the new Ordinary Shares to AIM is expected to take place on Tuesday, June 10, 2025. After the admission, the total number of Ordinary Shares in issue for the company will be 250,157,656, with each share carrying one vote. This figure will serve as the denominator for shareholders’ calculations related to notifications of interest changes as per the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

This update is based on a press release statement and corrects the previously reported figure for the number of shares to be admitted to trading on AIM. It provides shareholders and the market with accurate information regarding the recent share transactions and the total voting rights within the company.

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