Issue of Equity

RNS Number : 4703J

Coms PLC

31 March 2010

 



31 March 2010

COMS PLC

('Coms', or 'the Company')

CONVERSION OF LOAN NOTES, EXERCISE OF WARRANTS AND ISSUE OF EQUITY

Coms announces that the Company has authorised the conversion of £15,000 of loan notes into 500,000 1p ordinary shares at a conversion price of 3p. Following this transaction there are no remaining loan notes outstanding in the Company. 

In addition, the Company has authorised the exercise of 780,000 warrants at a price of 3p. Proceeds from this transaction were £23,400.

The following directors exercised their warrants:

Director	Warrants exercised	Exercise price	Total shares held following exercise	% of equity held following exercise	Number of warrants held following exercise
Jason Drummond	280,000	3p	17,899,041	41.22%	3,036,667

The total number of 1,280,000 new ordinary shares issued will represent approximately 2.95% of the enlarged share capital immediately after the loan note conversion and exercise of warrants. Application has been made for these shares to be admitted to trading on AIM and dealings in the shares are expected to commence on Wednesday 7 April 2010. The new ordinary shares will rank pari passu with the existing ordinary shares. 

The Company's enlarged issued share capital immediately following the issue of the new ordinary shares will be 43,423,782 ordinary shares of 1p, each share carrying the right to one vote.

Contact:

Coms Plc Richard Bennett	[phone]
Astaire Securities Plc Shane Gallwey / Avi Robinson	[phone]
Threadneedle Communications Graham Herring	[phone]

 

END

 

 

IOESDEFWSFSSEID