7 Sep 2016 16:49
AdEPT Telecom plc
("AdEPT" or the "Company")
Director Share Purchase and Institutional Placing
Share Placing
AdEPT (AIM: ADT), one of the UK's leading independent communications integrators and managed service providers, today is pleased to announce that Northland Capital Partners Limited, as the Company's broker, has today conducted a placing of 1,500,000 existing ordinary shares of 10p each in the Company (the "Placing Shares" and the "Placing") to satisfy demand from new and existing institutional investors and an executive director of the Company.
The Placing Shares have been sold on behalf of the beneficiaries to the estate of Christopher Fishwick. The Placing Shares were sold at a price of 235p per share and represent, in aggregate, 6.67 per cent. of the issued share capital of AdEPT.
Subsequent to the Placing, the revised total beneficial interests in the Company of the selling shareholders are set out below:
Placing Shares sold | Resultant shareholding | |||
Vendor | Number of Ordinary Shares | % of issued share capital | Number of Ordinary Shares | % of issued share capital |
Croyde Limited | - | - | 2,872,500 | 12.78 |
Codium Limited | 290,400 | 1.29 | 1,662,900 | 7.40 |
Bittium Limited | 459,600 | 2.04 | - | - |
Shelley Fishwick | 750,000 | 3.34 | 465,000 | 2.07 |
Director Share Purchase
As part of the Placing, Richard Burbage, Unified Communications Director, has increased his stake in the Company and purchased 85,000 Placing Shares at 235p per share.
Subsequent to the purchase, the revised total beneficial interest of Richard Burbage in the Company is set out below:
Placing Shares purchased | Resultant shareholding | |||
Number of Ordinary Shares | % of issued share capital | Number of Ordinary Shares | % of issued share capital | |
Richard Burbage | 85,000 | 0.38 | 210,000 | 0.93 |
For further information on AdEPT Telecom, please visit www.adept-telecom.co.uk or contact:
AdEPT Telecom Plc | |
Roger Wilson, Chairman | 07786 111 535 |
Ian Fishwick, Chief Executive | 01892 550 225 |
John Swaite, Finance Director | 01892 550 243
|
Northland Capital Partners Limited | 020 3861 6625 |
Nominated Adviser Edward Hutton/Gerry Beaney | |
Broking John Howes/Abigail Wayne | |
This announcement contains inside information for the purposes of Article 7 of EU Market Abuse Regulation 596/2014.
About AdEPT Telecom plc:
AdEPT Telecom plc is one of the UK's leading independent providers of voice and data telecommunications solutions. The Company provides a complete communications portfolio of fixed line calls, line rental, mobile, IP telephony, equipment installation, managed services, IT services, Wi-Fi, hardware and data connectivity products. AdEPT's tailored services are used by thousands of businesses and residential customers across the UK and are brought together through the strategic relationships with tier-1 suppliers such as BT Openreach, Vodafone, Virgin Media and Avaya.
AdEPT is listed on the London Stock Exchange (Ticker: ADT). For further information please visit: www.adept-telecom.co.uk
ADT.L (ADT)