SRT Marine Systems the AIM listed provider of maritime surveillance systems and digital navigation safety transceivers, has today announced an oversubscribed placing, raising gross proceeds of approximately £4.61 million, through the successful placing of 9,220,000 shares at 50p per share. SRT will use the funds to accelerate growth through provision of working capital for the Company’s systems and transceivers divisions. Simon Tucker, CEO commented:

“In the last few years, SRT has transformed its prospects as demonstrated by a 265% increase in revenues to £30 million last year, a current forward contract order book of £160 million, and a pipeline of new system contract prospects which has grown to £1.4 billion from which we have also recently announced a further award notification. This fund raise is timed to support this acceleration of our business.”

In the interview below, CEO Simon Tucker outlines SRT’s business and growth plans, as well as an overview of their market