11 March 2022 

t42 IoT Tracking Solutions PLC

("t42" or the "Company")

Exercise of warrants - Director shareholding

t42 (AIM: TRAC), the real-time tracking, security and monitoring solutions provider for the global container and freight market, announces that 500,000 ordinary shares of no par value ("Ordinary Shares") are being issued at a price of 12p per share following the exercise of warrants by Avi Hartmann, Igor Vatenmacher, Michael Rosenberg and a t42 employee. The warrants were granted in connection with the loans entered into with the Company announced on 25 March 2020.

Application will be made for the new Ordinary shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM ("Admission").  It is anticipated that Admission will become effective at 8.00 a.m. on or around 16 March 2022.

Following the issue of the new Ordinary Shares, the respective directors will have the following interests in the Company's enlarged issued share capital:

The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation is appended below.

Total voting rights 

On Admission, the Company's enlarged issued share capital will comprise 53,026,822 Ordinary Shares.  The Company does not hold any shares in treasury.  Therefore, the total number of Ordinary Shares with voting rights in the Company will be 53,026,822.  This figure 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 voting rights of the Company under the FCA's Disclosure Guidance and Transparency Rules. 

Contacts:

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 and 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/ 

Information required pursuant to rule 26 of the AIM Rules for Companies can be found at  www.starcomsystems.com 

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