4 Feb 2014 08:26
4 February 2014
Coms plc
("Coms" or "the Company")
Share Price Movement
The Board of Coms (AIM: COMS) notes the recent strong rise in the Company's share price, following the trading update released on 23 January 2014, and confirms that it is not aware of any specific reason for such a movement.
The Board can confirm, however, that it is currently in advanced discussions regarding a potential acquisition ("Acquisition") albeit there can be no certainty as to whether the Acquisition will proceed. The potential acquisition is opportunistic but should it proceed it will enhance the Company's cloud based services which in the Board's view will likely place Coms as one of the leading businesses in this sector.
In the event that the Acquisition proceeds, the Company will need to raise additional funds and is currently working with its advisers on this matter. As ever, the Board is focused on maximising shareholder value as it continues to grow the Company over the coming years.
Dave Breith, CEO states "The potential deal that we have been presented with is an ideal fit for Coms. I hope I have demonstrated in my time at Coms I have always acted in the right interests of the Company and shareholders and I will continue to do so"
Further announcements will be made in due course.
ENDS
For further information, please contact:
Coms plc +44 (0) 207 148 3000
David Breith (CEO)
Iain Ross (Chairman)
Charles Stanley Securities +44 (0)207 149 6000
(Nominated Adviser and Joint Broker)
Karri Vuori / Philip Davies
SI Capital Limited +44 (0) 1483 413 500
(Joint Broker)
Andy Thacker / Nick Emerson
Newgate Threadneedle +44 (0) 207 653 9858
(PR)
Robyn McConnachie / Alex White
Notes to Editors
Established in 2005, Coms is an end-to-end provider of telecommunications and IT services to business and industry. From hosted VoIP telephony to smart buildings to broadband to business infrastructure, Coms offers an unrivalled service built on innovation, passion and dedication. Unlike most VoIP providers, Coms does not rely on third party providers and we own and operate a UK based Carrier Class telephony platform. For more information, please visit www.coms.com