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Issue of Equity

31 Jul 2014 07:00

RNS Number : 7939N
Porta Communications PLC
31 July 2014
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31 July 2014

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Porta Communications PLC

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(the "Company" or "Group")

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Issue of Equity

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Porta Communications PLC, the AIM quoted international marketing and communications business, announces that it has issued a total of 1,022,352 ordinary shares (the "Consideration Shares") in satisfaction of the first tranche of deferred consideration payable to the vendors of Summit Marketing Services Limited ("Summit") based on the financial performance of Summit for the year ended 30 April 2014. Summit was acquired by the Group on 7 June 2013.

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Summit, based in Tunbridge Wells, was acquired as a bolt-on to the Group's existing marketing and advertising business and is a creative design studio which delivers intelligent design solutions for their clients that accurately target customers and ensure a positive response to business communications.

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The Consideration Shares will rank pari passu with all of the Company's existing ordinary shares of 10 pence each ("Ordinary Shares"). Application has been made for admission of the Consideration Shares to trading on AIM and dealings are expected to commence on 5 August 2014.

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Following the issue of the Consideration Shares the Group's issued share capital will consist of 229,727,545 Ordinary Shares with one voting right per Ordinary Share. The Company does not hold any Ordinary Shares in Treasury.

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The above figure of 229,727,545 Ordinary Shares may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

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Enquiries:

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Porta Communications PLCwww.portacomms.com

David Wright, Chief ExecutiveGene Golembiewski, Finance Director

+44 (0) 20 7680 6500

N+1 Singer

Nick Donovan / Alex Wright

+44 (0) 20 7496 3000

Newgate Threadneedle

Josh Royston

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+44 (0) 20 7653 9844

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