Intec Telecom Systems PLC
2 February 2001
2 February 2001
FOR IMMEDIATE RELEASE
Intec Telecom Systems PLC ('Intec' or 'the Company')
INTEC COMPLETES ACQUISITION OF US INTER-CARRIER BILLING SOFTWARE COMPANY
2 February 2001, London/Dallas - Intec Telecom Systems PLC (LSE: ITL.L), a
world leader in telecoms Operational Support Systems ('OSS'), today announces
that, further to its announcement on 17 January 2001, all conditions relating
to the acquisition of CHA Systems, Inc. ('CHA') have now been fulfilled.
Accordingly, the Company announces that it has completed the acquisition of
the entire issued share capital of CHA, a private US company specialising in
inter-carrier billing software predominantly for US telecom operators.
As set out in the announcement on 17 January 2001, part of the initial
consideration for the acquisition is to be satisfied by the issue of 1,336,173
New Ordinary Shares in the capital of Intec. Applications for admission of
such New Ordinary Shares to the Official List of the UK Listing Authority and
to trading on the London Stock Exchange's markets for listed securities
('Admission') have been made and it is expected that Admission will occur, and
that dealings will commence on Tuesday, 6 February 2001.
Enquiries:
Intec Telecom Systems PLC +44 (0) 7768 808082/+44 (0) 1483 745800
Andrew Rodaway, Investor Relations
andrew.rodaway@intec-telecom-systems.com
Investec Henderson Crosthwaite +44 (0) 20 7597 5970
Jagjit Mundi, Co-head of Corporate Finance
Cubitt Consulting +44 (0) 20 7367 5100
Barney Jones barney.jones@cubitt.com
END
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