Berkeley Mineral Resources Regulatory News (BMR)

11 Jul 2005 07:00

Tecteon PLC11 July 2005 11 July 2005 TECTEON PLC Placing of new Ordinary Shares Change of Adviser Tecteon PLC, ("Tecteon" or the "Company"(http://www.tecteon.com)), a leadingprovider of voice quality, comfort listening and hearing protection technologiesand solutions, announces that HB-corporate, as agent for the Company, has placed29,403,333 new Ordinary Shares at 3p per share. Taking into account a further3,000,000 shares placed directly by the Company, a total of 32,403,333 newOrdinary Shares have been placed (the "Placing Shares"), raising some £972,100before expenses. The net proceeds of the placing will be mainly used to finance furtherdevelopments of the Company's portfolio of generic reference design platformsincluding Voice over IP applications, and to strengthen the Company's sales andmarketing resources as part of its technology commercialisation programme. Application has been made to the London Stock Exchange for the Placing Shares tobe admitted to AIM. Admission is expected to become effective on 14 July, 2005.The Placing Shares will rank pari passu with the existing shares in issue. Tecteon also announces the appointment of HB-corporate as the Company's Brokerwith immediate effect. Masoud Alikhani, Chairman of Tecteon, commented: "Following our recent successes in delivering products and securing asubstantial contract, it is now the right time to develop products to take fulladvantage of a wider target market, which this additional funding will allow usto do. "The licensing contract we announced, in June, with C3, the UK's longestestablished headset provider, is a major step forward for the Company. Thecontract value at £900,000 is significantly higher than Tecteon's turnover,excluding Dominion Energy, of £96,000 for the year ended 30th June 2004. Also,under the terms of the agreement C3 will become a distributor for our existingtechnologies and together we will explore opportunities to further develop ourstrategies in the headsets and telephony markets. "The outlook for Tecteon has never been more positive." For further information please contact: Tecteon PLC Tel: 020 8446 5005Amir Nooral, CEO (a.nooral@tecteon.com) Bankside Consultants Tel: 0207 367 8888Michael Padley/Susan Scott Editors' Note About Tecteon PLC Established in mid 2001, with its head office in London, UK, Tecteon PLCdevelops and markets voice enhancement software technologies and algorithmsrunning on a range of DSP platforms. Tecteon technologies provide voice quality,comfort listening and hearing protection in wired and wireless voicecommunication systems, ranging from peripheral devices to telecom infrastructureequipment, examples include: Headsets (call centre, personal, police, pilots,military, fire-fighters), telephony (business, SMEs, residential), switches(PSTN, soft-switches, gateways), digital mobile radios, mobilephones, hands-free kits and AV conferencing units. ENDS This information is provided by RNS The company news service from the London Stock Exchange