Coms PLC
Placing
Coms plc (the "Company" or "Coms") has today placed 114,166,667 new ordinary
shares of 0.1p each ("Placing Shares") with new and existing investors and
Directors at a price of 0.6p per ordinary share (the "Placing"). The gross
proceeds of the Placing are £685,000 and will be used by the Company to provide
additional funds for further acquisitions and the continued growth of the
Company's existing operations.
The following Directors took part in the placing:
-0-
*T
Director No. of Placing No. of Ordinary % of Issued share
shares Shares held capital
following the
placing
--------------------------------------------------------------------------------
Jason Drummond 9,833,333 492,579,033 54.25%
--------------------------------------------------------------------------------
Justin Drummond 1,000,000 30,931,400 3.41%
--------------------------------------------------------------------------------
*T
The Placing Shares will represent approximately 12.6 percent of the Company's
enlarged issued share capital immediately following the Placing. Application
will be made for the Placing Shares to be admitted to trading on AIM and
dealings in the shares are expected to commence on Wednesday 14 February 2007.
The Placing Shares will rank pari passu with the existing shares.
The Company's enlarged share capital immediately following the Placing will be
908,044,867 ordinary shares of 0.1p, each share carrying the right to one vote.
Commenting on the placing, Jason Drummond, Executive Chairman of Coms plc said,
"The Company continues to go from strength to strength and the capital raised
through this placing shows a high level of investor confidence in our strategy".
"Coms is very well positioned to further expand and to capitalise on profitable
acquisition opportunities that arise in the fast growing Internet Telephony
sector".
-0-
*T
Date: 8 February 2007
Contact:
Coms plc
Richard Bennett, Corporate Development Officer
Tel: +44 (0)20 7148 3600
*T
Notes to Editors:
About Coms plc Coms was founded by Jason Drummond in 2000 with the vision of
using the Internet to carry and deliver voice telephone calls. Unlike Skype,
Coms is based upon the industry standard SIP protocol which enables the widest
possible connection of customers, devices and integrated Web 2.0 applications.
Coms subscribers can make high quality calls over the internet wherever a
high-speed internet connection is available including in wireless hotspots. Coms
subscribers can also select their own free telephone number. Ofcom has allocated
Coms 2 million numbers in the top 178 UK geographic area codes by population
which Coms subscribers can choose from. In addition, Coms can transfer a
company's existing telephone number to their service. Subscription is available
in a range of packages from the Company's website www.coms.com.
As well as the obvious cost saving implications for businesses and consumers,
the expanding market will enable Coms to develop and offer innovative new
convergent services such as video calling, IP Centrex, location independence and
online presence. It is these new innovative features, alongside the cost saving
benefits that are likely to encourage customers away from traditional PSTN
systems and combine their broadband service and voice calling system.
Coms launched its consumer service in October 2006, and recently acquired
ExchangeXT, a leading provider of business VoIP services, to enable Coms to
enter the SME market.
Coms is an Ofcom authorised Public Electronic Communications Network (PECN) and
a member of the Internet Telephony Service Providers Association (ITSPA).
Coms plc joined the AIM market of the London Stock Exchange on 6 September 2006
(AIM:COMS).
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.