2043L Regulatory Announcement
Regulatory AnnouncementRNS Number:2043L
Trakm8 Holdings PLC
07 January 2008
TRAKM8 HOLDINGS PLC
("Trakm8" or "the Group")
CONVERSION OF LOAN STOCK
Trakm8, (AIM: TRAK), one of the UK's leading telematics technology and
service providers to the global vehicle tracking and security markets,
is pleased to announce that application has been made for the admission
("Admission") to trading on AIM for 2,044,610 additional new ordinary
shares of 1p each in the Company ("Shares") following the receipt of
notices to exercise from the holdersof the Loan Stock.
The total value of the Loan Stock is £522,500 (inclusive of £22,500
accrued interest). All Loan Stock will be converted to new ordinary
shares of 1p each. Under the terms of the Loan Stock Agreement, the
conversion price has been calculated by reference to a price of 26.9p
per Share, resulting in a conversion price of 25.55p per share.
Upon issue, the new Shares will rank pari passu with the Company's
existing issued Shares, and dealings are expected to commence on 10th
January 2008.
DIRECTORS' INTERESTS
Mr J Watkins, non-executive Director, has an interest through his SIPP
in £272,500 nominal of the Loan Stock being converted. Mr J Watkins did
not hold any shares in the Group prior to this announcement. Following
Admission Mr Watkins' interest will comprise 1,066,328 Shares,
representing approximately 7.9% of the Group's enlarged issued share
capital.
Mr C Knapton, executive Director's direct interest will remain at
1,372,791 Shares. In addition Mr C Knapton holds a beneficial interest
in 212,374 Shares through a SIPP and his spouse holds a direct interest
in 131,856 Shares giving a total interest in 12.7% of the Company's
enlarged share capital.
Mr M Cowley, executive Director's interest will remain at 773,178
Shares and will now represent approximately 5.72% of the Company's
enlarged issued share capital.
Mr T Cowley, executive Director's interest will remain at 759,756
Shares and will now represent approximately 5.62% of the Company's
enlarged issued share capital.
Mr T Couling, executive Director's interest will remain at 37,520
Shares and will now represent approximately 0.28% of the Company's
enlarged issued share capital.
TOTAL VOTING RIGHTS
Following Admission, the Company's enlarged issued share capital will
comprise 13,517,033 ordinary shares with voting rights. The Company
does not hold any shares in treasury. This figure of 13,517,033
ordinary shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they
are required to notify their interest in, or a change in their interest
in, the share capital of the Company under the FSA's Disclosure and
Transparency Rules.
END
For further information please contact:
Trakm8 Holdings PLC 0870 380 0531
Cary Knapton, Chief Executive Officer
Tim Couling, Finance Director
Arbuthnot Securities 020 7012 2000
Paul Vanstone
Tavistock Communications 020 7920 3150
Simon Hudson
Paul Youens
About Trakm8
Trakm8, based in Shaftesbury, Dorset is a leading technology provider,
designer and developer of 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
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