STP.L Regulatory News (STP)

29 Aug 2006 14:15

Spiritel PLC29 August 2006 For immediate release 29 August 2006 SPIRITEL PLC ("Spiritel" or "the Company") Issue of Equity Spiritel plc (AIM: STP), the telecommunications services business, is pleased toannounce that it has issued 10,000,000 new ordinary shares of 1p each in theCompany at a price of 2.5p a share to Wills & Co Stockbrokers, raising netproceeds of £250,000 for the Company. The shares have been registered in thename of Pershing Securities Limited. It is expected that these new shares willbe admitted to trading on AIM on 31 August 2006. Following admission, theCompany's enlarged ordinary share capital will be 179,944,758 shares. The proceeds raised from this issue of equity will be used to assist in thedelivery of Spiritel's planned acquisition strategy detailed in an announcementon 5 July 2006 when the Company said it had already identified a number ofpotential acquisition targets, typically of small privately held businesses thatoffer telecoms products and services direct to SME and corporate customers. Alastair Mills, Spiritel's Chief Executive, commented: "We are delighted thatWills & Co Stockbrokers has increased its holding in the Company by subscribingfor these new shares. The funds raised will help us to drive forward ouracquisition strategy, which benefits from our already having identified a numberof exciting opportunities." For further information: Spiritel plc 020 7160 0100Alastair Mills, Chief Executive Buchanan Communications 020 7466 5000Mark Court Mary-Jane Johnson Notes for Editors: About Spiritel plc Spiritel plc (AIM: STP) is a telecommunications services and products companythat joined the AIM market of the London Stock Exchange in July 2004. Itsservices include call termination and in addition it has developed a suite ofleading-edge VoIP products, positioning the Company to benefit from themigration from traditional telephony to VoIP services. For further information please visit www.spiritelplc.com This information is provided by RNS The company news service from the London Stock Exchange