Trakm8 Holdings PLC Change of Nominated Adviser and Broker (5574J)
27 Abril 2022 - 8:00AM
UK Regulatory
TIDMTRAK
RNS Number : 5574J
Trakm8 Holdings PLC
27 April 2022
27 April 2022
Trakm8 Holdings plc
("Trakm8", the "Group" or the "Company")
Change of Nominated Adviser and Broker
Trakm8 Holdings plc (AIM: TRAK), the global telematics and data
insight provider, is pleased to announce the appointment of Allenby
Capital Limited as the Company's nominated adviser and broker with
immediate effect.
As detailed below, the appointment of Allenby Capital Limited
has been undertaken ahead of the completion of its full due
diligence as it would not have been possible for this to have been
finalised ahead of the loss of Arden Partners plc's nominated
adviser status. This situation is not unique to the Company and is
the same for all AIM companies that had Arden Partners plc
appointed as their nominated adviser, given the extremely short
timeframe between the date that it was announced that Arden
Partners plc would no longer be able to provide nominated adviser
services (being 11 April 2022) and the date on which it will lose
its nominated adviser status (being 28 April 2022).
John Watkins, Executive Chairman of Trakm8, commented:
"We at Trakm8 are delighted to be appointing Allenby as our
Nomad and Broker. Although the change was precipitated by the loss
of the Nomad status by Arden, we have taken this opportunity to
change our Broker too so that we may re-invigorate our engagement
with shareholders and other potential investors."
Further details on the appointment of Allenby Capital
Limited
Further to the announcements by Arden Partners plc on 11 and 14
April 2022 regarding the loss of its nominated adviser status upon
the completion of its recommended takeover, the Company has
appointed Allenby Capital Limited as its nominated adviser. Given
the timing of the completion of the recommended takeover of Arden
Partners plc, London Stock Exchange plc has agreed that subject to
initial due diligence being undertaken, Allenby Capital Limited has
until 5pm on 27 July 2022 to complete its full due diligence.
There can be no guarantee on the outcome of the full due
diligence and its impact on Allenby Capital Limited's decision to
continue to act as nominated adviser. Accordingly, in such
circumstances there is a risk that if Allenby Capital Limited does
not continue to act as nominated adviser following completion of
its full due diligence and the Company has not found an alternative
nominated adviser, the Company's AIM securities may be suspended
pursuant to AIM Rule 1. If, within one month of that suspension,
the Company has failed to appoint a replacement nominated adviser,
the admission of its AIM securities will be cancelled.
Notwithstanding the extension of time provided in respect of
completing full due diligence obligations at engagement, Allenby
Capital Limited will continue to be subject to all the ongoing
nominated adviser responsibilities under the AIM Rules for
Nominated Advisers.
Ends
For further information:
Trakm8 Holdings plc
John Watkins, Executive Chairman Tel: +44 (0) 167 543 4200
Jon Edwards, CFO
www.trakm8.com
Allenby Capital Limited (Nominated Adviser & Broker) Tel:
+44 (0) 20 3328 5656
David Hart/Liz Kirchner, Corporate Finance
www.allenbycapital.com
Tony Quirke, Sales and Corporate Broking
About Trakm8
Trakm8 is a UK based technology leader in fleet management,
insurance telematics, connected car, and optimisation. Through IP
owned technology, the Group uses AI data analytics collected from
its installed base of telematics units to fine tune the algorithms
that are used to produce its' solutions; these monitor driver
behaviour, identify crash events and monitor vehicle health to
provide actionable insights to continuously improve the security
and operational efficiency of both company fleets and private
drivers.
The Group's product portfolio includes the latest data analytics
and reporting portal (Trakm8 Insight), integrated
telematics/cameras/optimisation, self-installed telematics units
and one of the widest ranges of installed telematics devices.
Trakm8 has over 264,000 connections.
Headquartered in Coleshill near Birmingham alongside its
manufacturing facility, the Group supplies to the Fleet,
Optimisation, Insurance and Automotive sectors to many well-known
customers in the UK and internationally including the AA, Saint
Gobain, EON, Iceland Foods, GSF, Direct Line Group, Ticker and
Ingenie.
Trakm8 has been listed on the AIM market of the London Stock
Exchange since 2005. Trakm8 is also recognised with the LSE Green
Economy Mark.
www.trakm8.com / @Trakm8
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END
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