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On 28 July 2025, t42 IoT Tracking Solutions plc entered into an agreement to extend the maturity date of its £925,000 secured convertible loan notes, originally subscribed on 22 December 2021. This agreement extends the maturity date to 10 December 2027, with scheduled repayments of capital and accrued interest commencing in July 2025 through monthly instalments. Security for these notes is provided by fixed and floating charges over the assets of t42's Helios division.
| Date | 29 Jul 2025 |
| Time | 07:00:02 |
| Category | Miscellaneous |
| ID | 8566S |
29 July 2025
t42 IoT Tracking Solutions plc
("t42" or the "Company")
Extension of CLN
Further to the Company's announcement on 16 May 2025, T42 is pleased to confirm that on 28 July 2025 it entered into an agreement (the "Extension Agreement") for the extension of the maturity date of the £925,000 secured convertible loan notes ("CLNs"), originally subscribed on 22 December 2021.
The Extension Agreement provides for the extension of the CLN maturity date to be extended until the 10 December 2027, together with a scheduled repayment of the CLNs. Repayment of the CLNs commences in July 2025, with regular repayments of capital and accrued interest in monthly instalments. The Extension Agreement provides for security by way of fixed and floating charges over the assets of t42's Helios division. The remaining terms of the CLNs, as announced on 7 March 2024, remain in force.
In parallel, as also announced on 16 May 2025, t42 continues discussions to extend the repayment date of the Company's $1.3m secured convertible loan notes ("Second CLN"), subject to finalisation of terms and agreements, although there can be no certainty that definitive documentation will be concluded or the timing thereof. A further announcement will be made in due course.
Contacts:
|
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 |
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.