BATM Advanced Communications Ld
11 November 1999
Not for release or distribution in or into the United States
of America,
Canada, Japan or Australia
BATM Advanced Communications Limited
Completion of Offering
BATM Advanced Communications Limited ('BATM' or the
'Company') announces that it has completed the offering of
new ordinary shares which was announced on Tuesday, 9
November 1999. Dresdner Kleinwort Benson, as sole book-
runner, has placed 3,296,740 new ordinary shares,
approximately 9.99 per cent. of the existing issued share
capital of the Company, with institutional investors at a
price of £38.50 per share. The Company will receive
approximately £122.4 million (approximately US$196.6 million)
net of expenses of the Offering.
Application will be made to the London Stock Exchange for the
new shares to be admitted to the Official List. Share
certificates are expected to be issued on Wednesday, 17
November 1999 and the new shares are expected to commence
trading at 8:00 a.m. on Thursday, 18 November 1999. Upon
completion of the Offering, Dresdner Kleinwort Benson will be
granted an option by the Company to subscribe (at any time
until 30 November 2000) for 33,000 shares of the Company's
issued share capital at the Offering price of £38.50.
Yesterday, Dr Zvi Marom sold 150,000 and Dr Dan Kaznelson
sold 1,000 ordinary shares at the Offering price of £38.50.
Their holdings are now 10,175,090 and 112,636 ordinary shares
respectively.
Commenting on the Offering, Dr Zvi Marom, Chief Executive
said:
'I am delighted with the response to the Offering. As well
as providing funding for future acquisitions and further
development of our product range, we welcome the broadening
of our shareholder base.'
For further information:
BATM 00 972 3 938 6888
Ofer Bar-Ner, Chief
Financial Officer
Dresdner Kleinwort Benson 0207 623 8000
Mark Smith
Christopher Wilkinson
Shore Capital and Corporate 0207 734 7293
Limited
Graham Shore
Ludgate Communications 0207 253 2252
Edward Macquisten
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