Information  X 
Enter a valid email address

Redline Comms Inc. (REDL)

  Print      Mail a friend

Monday 08 January, 2007

Redline Comms Inc.

Over Allotment Option

Redline Communications Inc.
08 January 2007



         NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN UNITED STATES,
                           CANADA, JAPAN OR AUSTRALIA

Immediate Release                                                8 January 2007

                          REDLINE COMMUNICATIONS, INC.
                  ('Redline' or the 'Company' or the 'Group')

  Exercise Of Over-allotment Option To Purchase An Additional 1,429,900 Shares

Further to the announcement dated 6 December 2006, Redline (ticker: REDL), a
leading provider of WiMAX broadband wireless systems and proprietary wireless
infrastructure equipment, is pleased to announce that Canaccord Adams Limited
has exercised, in part, the over-allotment option referred to in the admission
document of the Company dated 5 December 2006, by purchasing 1,429,900 shares of
common stock at the offering price of 100 pence.

The exercise of the over-allotment option increases the number of shares sold in
the placing of the Company from 13,000,000 shares to 14,429,900 shares,
resulting in aggregate proceeds to the Company of approximately £12.68 million
(net of expenses, representing an increase of £1.36 million net of expenses).

Canaccord Adams Limited, as Nomad and Broker, and CIBC World Markets Inc. acted
as placing agents for the Company.

Application will be made for the over-allotment shares to be admitted to trading
on AIM in due course.

For further details

Redline Communications                                    Tel: 00 1 905 479 8344
Tom Hearne, Chief Financial Officer
Carolyn Anderson, Communications Director
[email protected]ons.com

Buchanan Communications                                 Tel: +44 (0)20 7466 5000
Jeremy Garcia / James Strong / Bobby Morse
[email protected]

Canaccord Adams                                         Tel: +44 (0)20 7050 6500
Chris Bowman / Andrew Chubb

About Redline

Redline Communications is the leading provider of standards-based wireless
broadband solutions. Redline's RedMAXTM WiMAX Forum CertifiedTM systems and
award-winning RedCONNEXTM family of broadband wireless infrastructure products
enable service providers and other network operators to cost-effectively deliver
high-bandwidth services including voice, video and data communications. Redline
is committed to maintaining its wireless industry leadership with the continued
development of WiMAX and other advanced wireless broadband products. With more
than 35,000 installations in 75 countries, and a global network of over 100
partners, Redline's experience and expertise helps service providers,
enterprises and government organizations roll out the services and applications
that drive their business forward.

The shares have not been, nor will be, registered under the United States
Securities Act of 1933, as amended, or any state securities laws and may not be
offered or sold in the United States absent registration or applicable exemption
from the registration requirement of such Act and applicable state securities
laws. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these securities
in any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to qualification under the securities laws of any such jurisdiction. Any
public offering of units to be made in the United States would, if made, be made
by means of a prospectus that could be obtained from the Company that would
contain detailed information about the Company and management as well as
financial statements.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
                                                                                        

a d v e r t i s e m e n t