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.
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
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