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t42 IoT Tracking Solutions PLC ( (GB:TRAC) ) has issued an update.
t42 IoT Tracking Solutions plc has announced an extension of the maturity date for its £925,000 secured convertible loan notes to December 2027, with repayments starting in July 2025. This move, which involves securing the loan with fixed and floating charges over the assets of its Helios division, is part of the company’s broader financial strategy as it continues discussions to extend the repayment date of another $1.3 million secured convertible loan note. The extension is expected to provide t42 with greater financial flexibility and stability, potentially impacting its operations and market positioning positively.
More about t42 IoT Tracking Solutions PLC
t42 IoT Tracking Solutions plc, formerly known as Starcom Systems plc, operates in the IoT industry, providing real-time tracking, analysis, monitoring, and security solutions for the global container and freight market. The company serves a wide array of clients, including ports, cargo owners, shipping companies, and customs authorities, across 55 countries with over 100 distributors and 50 logistics and support partners.
Average Trading Volume: 247,676
Technical Sentiment Signal: Sell
Current Market Cap: £1.41M
For an in-depth examination of TRAC stock, go to TipRanks’ Overview page.