SRT MARINE SYSTEMS PLC
(AIM: SRT)
("SRT" or the "Company")
Terms of Loan Note Refinancing
Further to the Company's announcement on 30th May 2018, SRT can confirm that the terms of the new three year loan notes of £1.15 million that replace the short term loan notes of the same value are as follows:
The loan notes may be repaid at any time within their three year term for a 0.5% early redemption fee and an annualised coupon of 8% payable quarterly on the outstanding amounts.
The loan note refinancing was arranged by LGB Corporate Finance.
About SRT Marine Systems plc:
SRT develops, manufactures and supplies maritime surveillance and vessel tracking technologies, products and systems. The Company's products and solutions are used by individual vessel owners, port authorities, maritime infrastructure owners, coast guards, fishery agencies and other national security agencies to enhance their maritime domain awareness, monitoring and management capabilities. Applications include the tracking of commercial and leisure vessels; sustainable fishery; anti-collision; search and rescue; waterway management, port and coast security; pollution management; and environmental management.
