7204R Placing to raise
RNS Number : 7204R
Trakm8 Holdings PLC
6 May 2009
Trakm8 Holdings plc
("Trakm8" or the "Group")
Placing to raise approximately £ 0.3 million
Trakm8, the AIM-listed designer and developer of licensed GPRS based hardware and software
for the vehicle placement and security market, today announces a share placing to strengthen the
Group's balance sheet.
Trakm8 is pleased to announce that 4,454,046 new ordinary shares of one penny each ("Ordinary
Shares") in the capital of the Company (the "Placing Shares") have been conditionally placed
with existing shareholders and Directors at a price of 6.5 pence per share ("Placing Price") to
raise approximately £0.3 million after expenses (the "Placing"). The Placing Shares will represent
approximately 24.3 per cent. of the Company's enlarged share capital following completion of the
Placing.
As part of the Placing, the Trakm8 Directors have agreed to commit £195,000 by subscribing
for 3,000,000 Placing Shares in aggregate at the Placing Price. These represent
approximately 67.4 per cent. of the Placing Shares comprising:
Director Number of Placing
Shares
Resultant
Shareholding
following Admission
% Shareholding
following Admission
John Watkins 1,923,077 2,989,405 16.3
James Hedges 307,692 307,692 1.7
Matthew Cowley 307,692 1,080,870 5.9
Tim Cowley 461,539 1,221,295 6.7
The issue of Placing Shares to the Trakm8 Directors is classified as a transaction with a related
party for the purposes of the AIM Rules. In accordance with the AIM Rules, the Company's
Nominated Adviser, Arbuthnot Securities, considers that the terms of the Placing are fair and
reasonable insofar as the Company's shareholders are concerned.
Application has been made to the London Stock Exchange for the Placing Shares to be admitted
to trading on AIM. The Placing Shares will rank pari passu with the existing issued Ordinary
Shares.
The Placing is conditional, inter alia, on the admission of the Placing Shares to AIM becoming
effective ("Admission"), which is expected to occur on 8 May 2009, when dealings in the Placing Shares are expected to commence. Following Admission, the Company will
have 18,311,215 Ordinary Shares in issue.
Dawson Buck, Chairman of Trakm8 commented:
"I am delighted at the success of this share placing which reflects in a material way the
confidence of both the Board and existing shareholders in the company. This placing will
strengthen the company balance sheet enabling us to capitalize on the success of the recently
announced E.ON business as well as other opportunities."
For further information, please contact:
Trakm8 Holdings plc
John Watkins, Chief Executive 0870 380 0531
Arbuthnot Securities Limited
Alasdair Younie/Richard Johnson 020 7012 2000
Tavistock Communications
Simon Hudson 020 7 920 3150
About Trakm8
Trakm8, based in Shaftesbury, Dorset is the leading technology provider, designer and developer
of GPRS based hardware and software to the vehicle tracking and security market. The Company
distributes its hardware and software worldwide through a network of distributors. In addition the
Company provides ASP vehicle monitoring and tracking services direct to the B2B market.
Trakm8's products allow vehicles and drivers to be monitored, allowing organisations to manage
deliveries and services, or track stolen vehicles down to 5 metres.
This information is provided by RNS
The company news service from the London Stock Exchange
END