NASA.L Regulatory News (NASA)

29 Dec 2005 07:00

Nasstar PLC 29 December 2005 Nasstar plc First Day Dealings on AIM Nasstar plc ('Nasstar') announces the admission of its Ordinary Shares to trading on AIM. Nasstar is an Application Service Provider supplying software over the internet. Its service involves hosting software applications including email, Microsoft Office, accounts software, CRM systems and web sites from a purpose-built data centre. The hosting services provide customers with the opportunity to outsource all of their IT functions with customers paying for usage on a monthly basis. Key Points • Nasstar's shares begin trading on AIM today. • A total of 10,900,000 Ordinary Shares are being admitted to trading, giving a market capitalisation of £2,725,000 at the placing price of 25p per share. • Nasstar's hosted applications are accessed over a secure internet connection. They include CRM systems, accounts software, Microsoft Hosted Exchange, Microsoft Sharepoint Services, Microsoft Office Professional and customised applications. In addition to hosted applications Nasstar provides networks and internet connectivity to enable businesses to connect over the internet to their hosted applications. • The Group's services are set out on its web site www.nasstar.com . Commenting on Admission, Nasstar's Chairman The Lord Daresbury said: 'The Board is excited about the opportunities for growth of the Application Service Provider model of supplying software over the internet. The growth of high speed broadband connectivity has created the right environment for the Application Service Provider model to work effectively. Nasstar has a scalable infrastructure in place for serving the growing demand of businesses who wish to adopt a pay-as-you-go approach to their IT requirements. The Board believes that the Admission of the Group to AIM will create opportunities for acquisitive as well as organic growth.' The Lord Daresbury Non-executive Chairman Enquiries Nasstar plc Charles Black Telephone 0870 240 1634 W.H. Ireland Limited Ruth Gifford or Tim Cofman Telephone 0121 616 2101 The information contained herein is restricted and is not for release or distribution in or into the United States of America, Canada, Australia, the Republic of South Africa, the Republic of Ireland or Japan. This press release has been issued by Nasstar plc and is the sole responsibility of Nasstar plc and has been approved for the purposes of Section 21 of the Financial Services and Markets Act 2000 by W.H. Ireland Limited ('W.H. Ireland') of 11 St James's Square, Manchester, M2 6WH. W.H. Ireland, which is regulated by the Financial Services Authority, is acting as the nominated adviser for Nassar plc and will not be responsible to any other person for providing the protections afforded to clients by W.H. Ireland or for providing advice regarding the Placing. This information is provided by RNS, the company news service from the London Stock Exchange. This information is provided by RNS The company news service from the London Stock Exchange