15 April 2020

LGB Corporate Finance advises SRT Marine Systems plc on combined debt and equity financing

LGB Corporate Finance has advised SRT Marine Systems plc (“SRT”), the AIM-quoted global provider of maritime surveillance, vessel tracking, monitoring, management and safety systems, on a £2.8 million financing combining an equity placing and £1 million tap of the group’s £10 million medium term note (“MTN”) programme. The equity placing and MTN issue were co-ordinated alongside an application to the group’s senior lender for additional facilities under the Coronavirus Business Interruption Loan Scheme, in order to raise in aggregate up to £7 million.

This financing strengthens SRT’s balance sheet and enables it to approach the uncertainty of the COVID-19 restrictions from a position of strength. SRT develops, manufactures and supplies maritime surveillance and vessel tracking technologies, products and systems. The group’s products and solutions are used by individual vessel owners, port authorities, maritime infrastructure owners, coast guards, fishery agencies and other national security agencies to enhance their maritime domain awareness, monitoring and management capabilities.

We were pleased to complete this transaction for SRT under a tight timetable despite the uncertainties of the COVID-19 crisis. Its successful execution reflects the strength of SRT’s business and management team, the benefits of investor diversification and the flexibility of MTN programmes as a funding instrument.

"Thank you Angus and team. Once again you have done what you said you would.Simon Tucker, CEO of SRT Marine Systems plc

Recent Articles

7 September 2020

Back British biotech by improving the clinical trials process

Andrew Boyle, CEO of LGB & Co. Limited, wrote an article for Pharmiweb on how to improve the British biotech sector.

Read more

News & Insights

1 September 2020

Is it safe to get back in the water? SME credit investments in the post-Covid world

Please join us to hear from our expert panel on how investors are viewing the market and assessing SME risk and resilience over the next 6 months and beyond. Read more

News & Insights

27 August 2020

COVID-19 is causing a renaissance in the UK biotech sector, we must ensure it lasts

Andrew Boyle, CEO of LGB & Co. Limited, wrote an article published in PharmaPhorum on the impact COVID-19 is having on the biotech sector in the UK.

Read more

News & Insights