Directorate Change

RNS Number : 1345M

Coms PLC

12 September 2012

 



12 September 2012

Coms plc ("Coms", the "Company" or the "Group")

Directorate Change and issue of equity

The Company announces that Jason Drummond, executive Chairman, has today stepped down from the Board with immediate effect and has left the Group to pursue other business interests. 

The directors have today allotted 8,333,333 ordinary shares of 0.1p ("Shares") to Jason Drummond at a price per share of 0.54p as part of his arrangements with the Company.

Application has been made for the Shares to be admitted to trading on AIM on 18 September 2012 ("Admission").

Following Admission, the Company will have 237,718,227 ordinary shares in issue with each share carrying the right to one vote. This number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if that are required to notify their interest in, or a change in their interest in, the share capital of the Company.

Following Admission, Jason Drummond will have the following interest in the Company:

	No. of ordinary shares in the Company	% of issued share capital held
Jason Drummond	61,534,485	25.89%

Richard Bennett, CEO, commented: "On behalf of Coms I would like to thank Jason for his many years contribution to the Company as founder, investor and director. We wish him well in his future endeavours and look forward to a continued relationship with him as one of our significant shareholders and someone who can continue to help promote and introduce business opportunities to the Group. Following Jason's departure we shall be looking to add additional board members as soon as practicable and shall make further announcements as soon as and when appropriate."

Contact:

Coms plc

Richard Bennett                                                                      [phone]

Northland plc (Nominated Adviser and Joint Broker)

Luke Cairns /William Vandyk                                                  [phone]

XCAP Securities Limited (Joint Broker)

John Belliss                                                                             [phone]

Newgate Threadneedle (PR)

Graham Herring                                                                      [phone]

 

END

 

 

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