8th Feb 2007 07:00
Placing Coms plc (the "Company" or "Coms") has today placed 114,166,667 new ordinaryshares of 0.1p each ("Placing Shares") with new and existing investors andDirectors at a price of 0.6p per ordinary share (the "Placing"). The grossproceeds of the Placing are £685,000 and will be used by the Company to provideadditional funds for further acquisitions and the continued growth of theCompany's existing operations. The following Directors took part in the placing: \* TDirector No. of Placing No. of Ordinary % of Issued share shares Shares held capital following the placing--------------------------------------------------------------------------------Jason Drummond 9,833,333 492,579,033 54.25%--------------------------------------------------------------------------------Justin Drummond 1,000,000 30,931,400 3.41%--------------------------------------------------------------------------------\* T The Placing Shares will represent approximately 12.6 percent of the Company'senlarged issued share capital immediately following the Placing. Applicationwill be made for the Placing Shares to be admitted to trading on AIM anddealings in the shares are expected to commence on Wednesday 14 February 2007.The Placing Shares will rank pari passu with the existing shares. The Company's enlarged share capital immediately following the Placing will be908,044,867 ordinary shares of 0.1p, each share carrying the right to one vote. Commenting on the placing, Jason Drummond, Executive Chairman of Coms plc said,"The Company continues to go from strength to strength and the capital raisedthrough this placing shows a high level of investor confidence in our strategy"."Coms is very well positioned to further expand and to capitalise on profitableacquisition opportunities that arise in the fast growing Internet Telephonysector". \* TDate: 8 February 2007 Contact: Coms plc Richard Bennett, Corporate Development OfficerTel: +44 (0)20 7148 3600\* T Notes to Editors: About Coms plc Coms was founded by Jason Drummond in 2000 with the vision ofusing the Internet to carry and deliver voice telephone calls. Unlike Skype,Coms is based upon the industry standard SIP protocol which enables the widestpossible connection of customers, devices and integrated Web 2.0 applications.Coms subscribers can make high quality calls over the internet wherever ahigh-speed internet connection is available including in wireless hotspots. Comssubscribers can also select their own free telephone number. Ofcom has allocatedComs 2 million numbers in the top 178 UK geographic area codes by populationwhich Coms subscribers can choose from. In addition, Coms can transfer acompany's existing telephone number to their service. Subscription is availablein a range of packages from the Company's website www.coms.com. As well as the obvious cost saving implications for businesses and consumers,the expanding market will enable Coms to develop and offer innovative newconvergent services such as video calling, IP Centrex, location independence andonline presence. It is these new innovative features, alongside the cost savingbenefits that are likely to encourage customers away from traditional PSTNsystems and combine their broadband service and voice calling system. Coms launched its consumer service in October 2006, and recently acquiredExchangeXT, a leading provider of business VoIP services, to enable Coms toenter the SME market. Coms is an Ofcom authorised Public Electronic Communications Network (PECN) anda member of the Internet Telephony Service Providers Association (ITSPA). Coms plc joined the AIM market of the London Stock Exchange on 6 September 2006(AIM:COMS). Copyright Business Wire 2007Related Shares:
SMRT.L