Water Intel. Regulatory News (WATR)

1 Feb 2008 15:15

Qonnectis plc01 February 2008 1st February 2008 Qonnectis plc (AIM: QTI) Issue of Equity Qonnectis plc ('the Company'), the energy and environmental data monitoringservice provider for utilities and major commercial users of energy and water,announces it has agreed that the principal amount of the loan stock, allinterest outstanding thereon and any other obligations of the Company pursuantto the loan facility, loan note instrument and debenture dated 28 August 2007between the Company and Security Change Limited (the "Loan Facility") shall besatisfied by the allotment to Security Change Limited (or to whom they direct)of 25,000,000 ordinary shares of 1p each ("Conversion Shares"). The parties have agreed that the conversion price be 1p per share, whichrepresents a premium to the closing market price the day before the LoanFacility was announced on 29 August 2007. Application has been made to The London Stock Exchange for the ConversionShares, which will rank pari passu with the existing shares in issue, to beadmitted to AIM, and admission is expected to become effective on 7 February2008. Following this notification, the total number of shares in issue stands at243,608,023. For further information, please contact: Qonnectis plcMichael Tapia, Chief Executive 01932 788 299 HB CorporateEdward Hutton / Rachel Kane 020 7510 8600 Bankside ConsultantsMichael Padley / Louise Davis 020 7367 8888 Editors' notes - About Qonnectis Qonnectis' patented technologies enable the analysis of remote meter data tofacilitate water leakage control, customer profiling, and energy and watermanagement efficiency. Its products are already being used by a wide range of UKand overseas utilities as well as large commercial and domestic users of energyor water. Leakfrog, developed with Thames Water, is a product which provides leakagedetection and monitoring aimed at volume installations in homes.The iStaq familyof products work by sending meter readings to Qonnectis' secure data centre viaSMS text messaging over the GSM network. The data is then aggregated andpublished online via utility-branded 'myMeter' websites operated by Qonnectis.The data can also be sent directly to utilities' billings systems. Customers canaccess real-time information via a web browser using the 'myMeter' service. For more information, please visit www.qonnectis.com. ENDS This information is provided by RNS The company news service from the London Stock Exchange