1 October 2021
Starcom PLC
("Starcom" or the "Company")
Conversion of loans and Director shareholdings
The Board of Starcom (AIM: STAR), which specialises in the development of wireless, Internet-of-Things (IoT) based solutions for the remote tracking, monitoring and protection of a variety of assets, is pleased to announce that all the holders of the convertible loan notes issued in March 2020 and due for repayment or conversion by 30 September 2021, have exercised their options to convert these loans into new ordinary shares of Starcom at the conversion price of 1.25p per share. The loan notes were for £223,600 in total and accordingly, a total of 19,488,000 ordinary shares ("New Ordinary Shares") will be issued to the lenders as follows:
| Lender | No. of New Ordinary Shares |
| Montrose Securities Limited, a company controlled by Michael Rosenberg (Non-Executive Chairman) | 8,000,000 |
| Avi Engel (Non-Executive Director) | 8,000,000 |
| Igor Vatenmacher (Chief Financial Officer) | 1,744,000 |
| Starcom employee | 1,744,000 |
The conversion price is at a premium of approximately 39 per cent. to the most recent closing mid-market share price and reflects the confidence of the lenders in the prospects for the Company.
Application will be made for the New Ordinary Shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is anticipated that Admission will become effective on 7 October 2021.
On Admission, the shareholdings in the Company of the directors concerned will be as follows:
| Director | Total no. of Ordinary Shares held on Admission | Percentage of issued share capital of the Company held on Admission |
| Michael Rosenberg | 16,626,391 | 4.33 |
| Igor Vatenmacher | 2,744,000 | 0.71 |
| Avi Engel | 11,108,334 | 2.89 |
Total Voting Rights
On Admission, the Company's issued ordinary share capital will comprise 384,214,576 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares with voting rights in the Company will be 384,214,576. This figure 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 voting rights of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Contacts:
| Starcom Plc Michael Rosenberg, Chairman Avi Hartmann, CEO |
07785 727595 +972 5477 35663 |
| Allenby Capital Limited (AIM Nominated Adviser and Joint Broker) Jeremy Porter/Piers Shimwell | 020 3328 5656 |
| Peterhouse Capital Limited (Joint Broker) Lucy Williams/Charles Goodfellow/Eran Zucker | 020 7469 0930 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
| a) | Name | Michael Rosenberg (Chairman) Avi Engel (Non-executive Director) Igor Vatenmacher (Chief Financial Officer)
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| 2 | Reason for the notification | |||||||||||||
| a) | Position/status | See 1 a) above | ||||||||||||
| b)
| Initial notification /Amendment | Initial notification | ||||||||||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Name | Starcom plc | ||||||||||||
| b) | LEI | 213800XVU7WF3QMF4826 | ||||||||||||
| 4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||||||
| a)
| Description of the financial instrument, type of instrument Identification code | Ordinary Shares of no par value
Identification code (ISIN) for Starcom plc ordinary shares: JE00B8WSDY21 | ||||||||||||
| b) | Nature of the transaction | Issue of ordinary shares for conversion of loan notes | ||||||||||||
| c) | Price(s) and volume(s) |
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| d) | Aggregated information - Aggregated volume - Price |
| ||||||||||||
| e) | Date of the transaction | 30 September 2021 | ||||||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||||||
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