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On 16 May 2025, t42 IoT Tracking Solutions plc announced it has reached agreement in principle with lenders to extend the repayment date of its £925,000 and $1,300,000 secured convertible loan notes (CLNs). These CLNs are currently due to mature on 20 May 2025.
| Date | 16 May 2025 |
| Time | 07:00:07 |
| Category | Miscellaneous |
| ID | 9226I |
16 May 2025
t42 IoT Tracking Solutions plc
("t42" or the "Company")
Extension of CLN Redemption Dates
t42 IoT Tracking Solutions plc (AIM: TRAC), a leading provider of global shipping container tracking solutions, announces that it has reached agreement in principle, with the respective lenders, to extend the repayment date of the Company's £925,000 and $1,300,000 secured convertible loan notes ("CLNs").
The two CLNs are currently due to mature on 20 May 2025 and the repayment extensions are subject to finalisation of terms and agreements, although there can be no certainty that definitive documentation will be concluded or the timing thereof. The lenders have confirmed that they will not be seeking repayment while the extensions are being negotiated.
A further announcement will be made in due course.
Contacts:
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t42 IoT Tracking Solutions PLC Michael Rosenberg, Chairman Avi Hartmann, CEO
|
07785 727595 +972 5477 35663 |
|
Strand Hanson Limited (Nominated Adviser and Financial Adviser) James Harris/ Richard Johnson/ Imogen Ellis
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020 7409 3494 |
|
Peterhouse Capital Limited (Broker) Lucy Williams/ Duncan Vasey/ Eran Zucker
|
020 7469 0930 |
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/.
The information contained within this announcement is deemed by the Company to constitute inside information pursuant to article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.