10 Feb 2014 07:00
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT OR ANY COPY OF IT.
This announcement does not constitute an offer of securities for sale or subscription, or a solicitation of an offer to acquire securities, in any jurisdiction. Investors should not subscribe for or purchase any transferable securities referred to in this announcement except on the basis of information contained in an admission document ("Admission Document") published by Manx Telecom Plc ("the Company"), in connection with the proposed admission of its ordinary shares to the Alternative Investment Market ("AIM"). Copies of the Admission Document are available for inspection from www.manxtelecom.com, subject to applicable securities laws.
10 February 2014
Manx Telecom Plc
(the "Company")
Admission to AIM and First Day of Dealing
The Board of Manx Telecom Plc, the leading communication solutions provider on the Isle of Man, is pleased to announce the Company's admission to AIM following a Placing of 110,081,987 Ordinary Shares at a Placing Price of 142 pence each. Dealings in the Company's Ordinary Shares are expected to begin today at 8.00am under the TIDM MANX.
The total number of Ordinary Shares in issue upon Admission will be 112,822,287, giving the Company a market capitalisation of approximately £160.2 million at the Placing Price and a free float of approximately 98%.
Disclosures on the Company as required by AIM Rule 26 can be found at: www.manxtelecom.com
-Ends-
For further enquiries, please contact:
|
|
|
About Manx Telecom Plc ("Manx Telecom")
• Manx Telecom is the leading communication solutions provider on the Isle of Man, offering a wide range of fixed line, broadband, mobile, and data centre services to businesses, consumers and the public sector on the Isle of Man as well as a growing portfolio of innovative solutions to offshore customers.
• Manx Telecom has a record of innovation, being the first European operator to launch a 3G mobile service and the first in the world to launch a 3.5G mobile service. 4G services are expected to be launched in the summer of 2014, while the Company's high speed VDSL broadband service (Ultima) is available to over 80 per cent. of homes on the island.
• The Company has one Tier 3 data centre and international connectivity and its operations are business-critical to the economic strategy of the Isle of Man.
• One of the largest employers on the Island, Manx Telecom employs over 280 people. The company plays a major role in the wider community through a range of activities, including charitable donations, sponsorships, and corporate social responsibility initiatives.
• The Isle of Man has a resilient and growing economy which has experienced 29 years of unbroken GDP growth. Unemployment is low at approximately 2.4 per cent. and there is a zero per cent. corporate tax rate which applies to the vast majority of Manx Telecom's business and means that the Group currently pays no corporation tax on its annual profits.
• Manx Telecom will be traded on the Alternative Investment Market of the London Stock Exchange with the ticker MANX.
All capitalised words used in this announcement but not defined are as defined in the Company's Admission Document. A copy of the Company's Admission Document is available on the Company's website.
Certain statements contained herein are forward looking statements and are based on current expectations, estimates and projections about the potential returns of the Group and industry and markets in which the Group operates, the directors' beliefs and assumptions made by the directors. Words such as "expects", "anticipates", "should", "intends", "plans", "believes", "seeks", "estimates", "projects", "pipeline" and variations of such words and similar expressions are intended to identify such forward looking statements and expectations. These statements are not guarantees of future performance or the ability to identify and consummate investments and involve certain risks, uncertainties, outcomes of negotiations and due diligence and assumptions that are difficult to predict, qualify or quantify. Therefore, actual outcomes and results may differ materially from what is expressed in such forward looking statements or expectations. Past performance of the Group cannot be relied on as a guide to future performance.
This announcement does not constitute an offer to sell or an invitation to subscribe for, or solicitation of an offer to subscribe for or buy, shares to any person in any jurisdiction to whom it is unlawful to make such offer, invitation or solicitation. The shares may not, subject to certain exceptions, be offered or sold, directly or indirectly, in, or into, the United States of America, Canada, Australia, Japan or the Republic of South Africa or in any other country, territory or possession where to do so may contravene local securities laws or regulations. The shares have not been, and will not be, registered under the United States Securities Act of 1933 (as amended) or under the securities legislation of any state of the United States of America, any province or territory of Canada, Australia, Japan or the Republic of South Africa and they may not be offered or sold, directly or indirectly, within the United States of America or Canada, Australia, Japan or the Republic of South Africa or to or for the account or benefit of any national, citizen or resident of the United States of America, Canada, Australia, Japan or the Republic of South Africa or to any U.S. person (within the definition of Regulation S made under the United States Securities Act 1933, as amended).
The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The information in this announcement is subject to change. However, the Company does not undertake to provide the recipient of this announcement with any additional information, or to update this announcement or to correct any inaccuracies, except to the extent required by law.
The price and value of securities can go down as well as up. Certain figures contained in this announcement, including financial information, have been subject to rounding adjustments. Accordingly, in certain instances, the sum or percentage change of the numbers contained in this announcement may not conform exactly with the total figure given.