Corporate Governance

The directors recognise the importance of and are committed to high standards of corporate governance. While under the AIM rules full compliance with the UK Corporate Governance Code is not required, the directors believe that the Company applies a number of the recommendations insofar as is practicable and appropriate for a public company of its size. An explanation of how the relevant code is provided is given in this document Corporate Governance. The Company is subject to the UK City Code on Takeovers and Mergers.

  • Key Information

  • People

  • Advisors

  • AIM Rule 26 Information

Key Information

About SRT

The SRT Marine Systems plc (SRT) group is the global leader in Automatic Identification System (AIS) based maritime domain awareness technologies, products and systems.

AIS is used around the world to enhance maritime domain awareness. Our target market is the world’s 26 million vessels, millions of buoys and tens of thousands of ports dispersed across millions of km of coastline and over 370 million square kilometres of seas, lakes and inland waterways.

Key information

FULL COMPANY NAME

SRT Marine Systems plc.

FINANCIAL YEAR END

31st March

REGISTERED NUMBER

5459678

NUMBER OF SECURITIES IN ISSUE

139,742,419*

PERCENTAGE NOT IN PUBLIC HANDS

17.0%*

Trading information

SEDOL NUMBER: 80M8KM3

ISIN NUMBER: GB00B0M8KM36

Quoted on the Alternative Investment Market (AIM) and leisure boat owners.

Significant Shareholders*Ordinary ShareHolding
Mr and Mrs R Persey16,112,25211.5%
S Rogers13,508,9009.7%
J Horne8,953,9006.1%
Hargreaves Lansdown Nominees Limited8,180,1975.8%
Mr & Mrs IM Laing8,000,0005.7%
Interactive Investor Services Nominees Limited5,485,9763.9%
Barclays Direct Investing Nominees Limited4,664,8103.3%
Lynchwood Nominees Limited4,585,0003.3%

* The share price quoted here is provided by a third party source over which SRT has no control. The price may be inaccurate and should not be relied upon for accuracy.

Share Price

Software Radio Technology plc

Operating Subsidiaries

SRT MARINE TECHNOLOGY LIMITED

Develops and provides customised core technology and OEM product and display solutions to marine electronics brand owners wanting their own range of high quality customised AIS products.

SRT MARINE SYSTEM SOLUTIONS LIMITED

Provides complete turn-key maritime tracking, safety and security system solutions to strategic locally based system integrators.

EM-TRAK MARINE ELECTRONICS LIMITED

Provides a range of em-trak branded AIS transceivers to a global dealer network addressing price conscious commercial and leisure boat owners.

People

People

Executive Directors

SIMON TUCKER – CHIEF EXECUTIVE OFFICER

Simon joined SRT in 2002 as an advisor to the Board, was appointed to the Board as Commercial Director in 2004 and CEO in 2008. With over 15 years experience of creating, building and running international businesses, Simon drives the business in an aggressive yet disciplined style.

NEIL PENIKET – CHIEF OPERATING OFFICER

Neil joined SRT in 2005. As COO he has responsibility for the delivery of all technology and product development and manufacturing of all SRT products. A Chartered Electrical Engineer, Neil has worked in the electronics industry for 18 years in the defence and mobile telecommunications sectors with companies including GEC-Marconi, UbiNetics and Aeroflex.

RICHARD HURD – CHIEF FINANCIAL OFFICER

Richard joined SRT in January 2009 as Financial Controller and was appointed to the Board in November 2009. An ACA qualified accountant, he has many years of combined commercial and professional practice experience which is an asset now of benefit to SRT.

Non-Executive Directors

KEVIN FINN – CHAIRMAN

Kevin is a highly respected international businessman with significant strategic and operational experience of complex businesses. His experience in the automotive industry brings significant expertise and knowledge in respect of strategies for managing complex product supply chains, the operation of large dealer networks, big data systems, completion of acquisitions and negotiation of complex international contracts all of which are highly relevant to SRT’s business. Kevin is Chairman of the Audit and Nomination Committees and a member of the Remuneration Committee.

SIMON ROGERS

After an early career in FMCG brand management and Market Research, Simon worked as UK Marketing Director of software company Lotus Development Ltd in the late eighties.

Since that time, he has established and sold two media businesses, remaining a Director of Electronic Media Ltd, and has served on the boards of a number of small and medium size businesses, including over ten years with the Portal Partnership, an IT services company. Simon was a founder investor in SRT and one of the main backers of the buyout from Securicor. Simon is Chairman of the Remuneration Committee and a member of both the Audit and Nomination Committees.

Advisors

Advisors

BANKERS

Barclays Bank

1 Queen Square

Bath

BA1 2HA

AUDITORS

Nexia Smith & Williamson Audit Ltd

Chartered Accountants

Portwell Place

Portwell Lane

Bristol

BS1 6NA

TAX ADVISORS

Smith & Williamson LLP

Chartered Accountants

Portwell Place

Portwell Lane

Bristol

BS1 6NA

SOLICITORS

CMS Cameron McKenna

Mitre House

160 Aldersgate Street

London

EC1A 4DD

NOMINATED ADVISER & BROKER

finnCap Ltd

60 New Broad Street

London

EC2M 1JJ

REGISTRARS

Computershare Investor Services plc

PO Box 82

The Pavilions

Bridgwater Road

Bristol

BS99 7NH

AIM Rule 26 Information

AIM Rule 26 Information

The following information is being disclosed for the purposes of Rule 26 of the AIM Rules for Companies.

DESCRIPTION OF THE BUSINESS

The SRT Marine Systems plc (‘SRT’) group of companies develop and provide technologies, products and services which enhance maritime domain awareness. Globally there are 26 million vessels, 1.6 million km of coastline and thousands of major ports. Today, 90% of global trade by value relies on this vital infrastructure to be transported from one place to the next by sea. SRT develops sophisticated wireless communication technologies, products and services that significantly enhance the safety and security of the global maritime domain.

In recent years, a new technology called Automatic Identification System (AIS) has been introduced by the International Maritime Organisation (IMO) and adopted globally as the standard maritime domain information technology system. This sophisticated and complex mesh network technology enables the precise identification and monitoring of all marine traffic as well as a platform to communicate other information and services applicable to the marine environment.

SRT has deployed its internal wireless communication development abilities to create a range of AIS technology and product solutions which marine electronics companies can use to create their own unique AIS products. Over the last decade, SRT has invested heavily in the creation of a wide range of best in class AIS products and a global network of customers each with their own established brands and sales channels.

SRT develops and sells a range of core technology modules and standard OEM products to existing marine electronics companies who wish to have their own AIS product range. Market applications for the products range from leisure through to commercial and homeland security.

NUMBER OF SECURITIES IN ISSUE

139,742,419*

There are no other exchanges or trading platforms on which SRT Marine Systems plc. has applied or agreed to have its AIM securities admitted or traded. There are no restrictions on the transfer of AIM securities..

COUNTRY OF INCORPORATION AND MAIN COUNTRY OF OPERATION

SRT Marine Systems plc. was incorporated in England and Wales on 23rd May 2005. All operations are located in the UK.

ADMISSION TO AIM

SRT Marine Systems plc. floated on AIM on 2nd November 2005.

Executive directors

Simon Tucker – Chief Executive Officer

Neil Peniket – Chief Operating Officer

Richard Hurd – Chief Financial Officer

NON-executive directors

Kevin Finn – Chairman

Simon Rogers

board committees

REMUNERATION COMMITTEE

The Committee comprises Simon Rogers (Chairman) and Kevin Finn. The Committee meets at least twice per year, with its principal objective to attract and retain executives. It does this by providing them with appropriate incentives to encourage enhanced performance and ensure that, in a fair and responsible manner, they are rewarded for their individual contributions to the success of the Company.

AUDIT COMMITTEE

The Audit Committee comprises Kevin Finn (Chairman) and Simon Rogers. It meets at least twice per year with the principal responsibility to review the effectiveness of the Company’s systems of internal control and to review with the external auditors the nature and scope of their audit. The Committee also reviews the results of that audit, and evaluates and selects external auditors.

NOMINATION COMMITTEE

The Nomination Committee comprises Kevin Finn (Chairman) and Simon Rogers. The Committee meets to discuss the appointments of new members of the Senior Management Team.

The Company is subject to the UK City Code on Takeovers and Mergers.

Quick Downloads

Memorandum of Understanding SRT Articles of Association Admission to AIM