Exercise of Warrants

RNS Number : 7481Q

Coms PLC

17 October 2013

 



17 October 2013

Coms plc

("Coms" or the "Company")

Exercise of Warrants 

Coms plc (AIM: COMS) was informed yesterday that on 14 October certain warrant holders have exercised their right to subscribe for 2,346,800 ordinary shares of 0.1 pence each ("Ordinary Shares") at a price of 3.7 pence per Ordinary Share. These warrants were granted at the time of the placing of shares announced on 24 May 2013. The Company will use the funds raised, of approximately £0.086 million, to help accelerate the growth of the business both organically and through acquisitions.

Application will be made to the London Stock Exchange for these shares to be admitted to trading on AIM and it is expected that dealings will commence on 24 October 2013. These shares will rank pari passu in all respects with the existing issued Ordinary Shares in the Company. The Company's enlarged issued ordinary share capital immediately following the issue of these shares will be 622,220,583 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in interest in, the share capital of the Company under the Disclosure and Transparency Rules.

For further information, please contact:

Coms plc

David Breith (CEO)                                                                                             [phone]

Iain Ross (Chairman)          

Charles Stanley Securities                                                                              [phone]

(Nominated Adviser and Joint Broker)

Karri Vuori / Philip Davies                                                                       

SI Capital Limited                                                                                            [phone]

(Joint Broker)

Andy Thacker / Nick Emerson                                                    

Newgate Threadneedle                                                                                   [phone]

(PR)

Robyn McConnachie / Alex White

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.

 

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