Directorate Change

RNS Number : 7683J

Coms PLC

19 July 2013

 



19 July 2013

Coms plc

("Coms" or the "Company")

Director Change

Coms plc. (AIM: COMS) regrets to announce that due to an unavoidable conflict of interest Gavin Wheeldon has resigned from the Coms plc Board with immediate effect.

Gavin joined the Coms Board following the acquisition of ADSL24 earlier this year and since that time has made a significant contribution to the Coms Board. However due to the breadth of Coms on-going M&A strategy it has become clear that by being a director of Coms plc could potentially conflict with, and limit, Gavin's role as CEO of Purple Wifi both from a time and market intelligence perspective.

Iain Ross Chairman of Coms PLC commented:

"Coms is actively seeking to build the business through implementing an aggressive buy and build strategy and as a consequence is initiating a number of crucial discussions over the next few months, which could make Gavin an insider and thereby limit what he can do with his own business. This situation is unfortunate but totally understandable in the circumstances and I wish Gavin well.  Gavin intends to retain his personal shareholding in Coms plc. Currently I am actively seeking to recruit at least one new non-executive director."

Coms plc

David Breith (CEO)                                                                  [phone]

Iain Ross (Chairman)

Grant Thornton UK LLP (Nominated Adviser)

Colin Aaronson / Jen Clarke                                                    [phone]

Simple Investments (Broker)

Andy Thacker / Nick Emerson                                                 [phone]

Newgate Threadneedle (PR)

Graham Herring                                                                      [phone]

Notes to Editors

Coms plc is listed on the London Stock Exchange (AIM market) and is a leading player in the provision of Hosted VoIP Telephony to UK businesses with over 10-years' experience in the telecoms sector. Unlike most VoIP providers, Coms does not rely on third party providers and we own and operate a UK based Carrier Class Telephony Platform.

 

END

 

 

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