Exercise of warrants

RNS Number : 5820L

Coms PLC

13 August 2013

 



13 August 2013

Coms plc

("Coms" or the "Company")

Exercise of Warrants

Coms plc (AIM: COMS) advises that certain warrant holders have exercised their right to subscribe for 47,085,181 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 14 May 2013. The Company will use the funds raised, of approximately £1.74 million, to help accelerate the growth of the business both organically and through acquisitions.

Application has been 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 19 August 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 601,319,083 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.

Coms plc

David Breith (CEO)                                                                                          [phone]

Iain Ross (Chairman)                                                                                     

Grant Thornton UK LLP (Nominated Adviser)

Colin Aaronson / Jen Clarke                                                                        [phone]

SI Capital Limited (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.

 

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