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31 Mar 2010 07:00
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31 March 2010
Β
COMS PLC
Β
('Coms', or 'the Company')
Β
CONVERSION OF LOAN NOTES, EXERCISE OF WARRANTS AND ISSUE OF EQUITY
Β
Coms announces that the Company has authorised the conversion of Β£15,000 of loan notes into 500,000 1p ordinary shares at a conversion price of 3p. Following this transaction there are no remaining loan notes outstanding in the Company.Β
Β
In addition, the Company has authorised the exercise of 780,000 warrants at a price of 3p. Proceeds from this transaction were Β£23,400.
Β
The following directors exercised their warrants:
Β
|
Director |
Warrants exercised |
Exercise price |
Total shares held following exercise |
% of equity held following exercise |
Number of warrants held following exercise |
|
Jason Drummond |
280,000 |
3p |
17,899,041 |
41.22% |
Β 3,036,667 |
Β
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The total number of 1,280,000 new ordinary shares issued will represent approximately 2.95% of the enlarged share capital immediately after the loan note conversion and exercise of warrants.Β Application has been made for these shares to be admitted to trading on AIM and dealings in the shares are expected to commence onΒ Wednesday 7 April 2010. The new ordinary shares will rank pari passu with the existing ordinary shares.Β
Β
The Company's enlarged issued share capital immediately following theΒ issue of theΒ new ordinary shares will be 43,423,782 ordinary shares of 1p, each share carrying the right to one vote.
Β
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Contact:
Β
|
Coms Plc Richard BennettΒ |
Β +44 (0) 20 7148 3148 Β |
|
Astaire Securities Plc Shane Gallwey / Avi Robinson |
Β +44 (0) 20 7448 4400
|
|
Threadneedle Communications Graham Herring |
Β +44 (0)Β 20 7653 9858 |
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