16 October 2023

t42 IoT Tracking Solutions plc

Director/PDMR dealings

T42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), the provider of global shipping containers tracking solutions, notifies the following transactions by Directors and senior management in ordinary shares of no-par value each in the capital of the Company ("Ordinary Shares").

Avi Hartmann and Igor Vatenmacher, each an executive director, and Uri Hartmann, CTO, have subscribed for an aggregate 360,000 new Ordinary Shares at 3.5 pence per shares, for gross proceeds of £12,600 to the Company ("Subscription"). The Subscription price represents a premium of approximately 14.38 per cent. to the mid-market closing price on AIM of 3.06 pence per Ordinary Share on 13 October 2023, being the latest practicable business day prior to the date of this announcement.

While only a small investment, given ongoing events in Israel, the preference was to subscribe for new Ordinary Shares to demonstrate confidence of management during these difficult times.

In addition, Michael Rosenberg, Non-Executive Chairman, and Martin Blair, Non-Executive Director have exercised 279,070 and 251,163 options over Ordinary Shares, respectively, pursuant to the options granted to them under the Company's share option scheme in lieu of salary and fees, as announced on 23 June 2021 and 15 July 2021. The options were exercisable at nil cost and will be satisfied by the issue of 530,233 new Ordinary Shares (the "Option Shares").

These transactions are set out in the table below.

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for 890,233 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the new Ordinary Shares on AIM will commence at 8.00 a.m. on or around 19 October 2023.

On Admission, the Company's issued share capital will consist of 54,917,055 Ordinary Shares, each with one voting right.  There are no shares held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights will be 54,917,055 and this figure may be used by shareholders following Admission 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 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, 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/. 

PDMR Notification Form: