SMRT.L Regulatory News (SMRT)

18 Oct 2007 10:32

Coms PLC18 October 2007 Date: 18 October 2007 Coms plc "Coms" or "the Company" Issue of Equity Coms plc (the "Company" or "Coms") has today placed 134,000,000 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 £804,000 and the net proceeds will be used by theCompany to provide additional funds for further acquisitions and the continuedgrowth of the Company's existing operations. The following Directors took part in the placing: Director No. of Placing No. of Ordinary Shares held % of Issued share shares following the placing capitalJason Drummond 8,333,333 502,512,366 46.8% The Placing Shares will represent approximately 12.7 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 Thursday 25 October 2007. The Placing Shares will rank pari passu with the existing shares. The Company's enlarged share capital immediately following the Placing will be1,056,378,200 ordinary shares of 0.1p, each share carrying the right to onevote. "We are at an exciting tipping point in our growth", commented Jason Drummond,Executive Chairman, Coms plc. "These funds will enable Coms to fulfil thepotential of our agreement with Polycom and promote quality Internet Telephonyservices to businesses, as well as seek out further complementary acquisitions". Contact: Coms plcRichard Bennett, Corporate Development OfficerTel: +44 (0)20 7148 3148 HB CorporateRod Venables/Rory Creedon+44 (0)20 7538 1166 Square1 Consulting LimitedMark Longson+44 (0)20 7929 5599 Notes to Editors: About Coms plcComs was founded by Jason Drummond in 2000 with the vision of using the Internetto carry and deliver voice telephone calls. Voice over IP (VoIP) is changing theway consumers and businesses make and receive their telephone calls. Coms offersa low-cost VoIP service that can be combined with services provided by broadbandInternet suppliers to make and receive telephone calls. Coms subscribers canmake high quality calls over the Internet wherever a high-speed Internetconnection is available, including in wireless hotspot as they are allocatedtheir own location free unique user telephone number. Subscription is availablein a range of packages. See www.coms.com for more information. Coms is an Ofcom authorised Public Electronic Communications Network (PECN) anda member of the Internet Telephony Service Providers Association (ITSPA). Coms is listed on the London Stock Exchange AIM market (LSE:COMS) This information is provided by RNS The company news service from the London Stock Exchange