London Stock Exchange welcomes Starcom Plc to AIM
Starcom specialises in the development of wireless solutions for the remote tracking, monitoring and protection of various types of assets and people. The Company currently has three principal products in production – the Helios, a vehicle location and fleet management system, the Watchlock, an award winning high security padlock and electronic alarm monitoring system jointly owned with Mul-T-Lock Technologies Ltd, the world’s leading manufacturer and supplier of high security locking solutions) and the Triton, a shipping container tracking system.
Starcom has raised £2.72 million before expenses, issuing 13,600,000 new ordinary shares at 20 pence per share. Following the Placing, the Company has 71,100,000 ordinary shares of no par value in issue, giving a market capitalisation at the Placing price of £14.22 million.
Avraham Hartmann, Founder and CEO of Starcom, commented, “We have been delighted by the support we have received from UK investors and look forward to creating shareholder value as a public company.
“We believe AIM will provide us with an excellent platform for the next stage of the Company’s development, supporting our entry into new geographies as we seek to establish ourselves as the global leader in remote tracking, monitoring and protection.”
Northland Capital Partners is acting as NOMAD and broker to Starcom and Tavistock Communications as financial public relations adviser.