Coms plc Raises Finance for Further VoIP Acquisitions
Coms plc places 114,166,667 new ordinary shares with new and existing investors and Directors. The gross proceeds of the placing are $1.28M and will be used by the Coms to provide additional funds for further VoIP.
London, (PRWEB) February 21, 2007 -- Coms plc ("Coms"), today placed 114,166,667 new ordinary shares with new and existing investors and Directors. The gross proceeds of the placing are $1.28M and will be used by the Coms to provide additional funds for further VoIP acquisitions and the continued growth of the company's existing operations.
"It makes sense to consolidate the fragmented VoIP services industry; together we can create an Internet telephony company that can take on the global incumbents" said Richard Bennett, Corporate Development Director.
Coms, whose stated aim is to create an Internet Telephony company by organic growth and acquisition, completed an IPO in September 2006 and is listed on the London Stock Exchange AIM market. Coms made its first acquisition, Exchange XT in December 2006.
The company's Nomad and Broker, HB Corporate, a leading financial adviser to the London Stock Exchange AIM small cap sector, placed the shares with investors.
Notes to Editors:
Coms plc was founded by Jason Drummond in 2000 with the vision of using the Internet to carry and deliver voice telephone calls. Unlike Skype, Coms is based upon the industry standard SIP protocol which enables the widest possible connection of customers, devices and integrated Web 2.0 applications. Coms subscribers can make high quality calls over the internet wherever a high-speed internet connection is available including in wireless hotspots. Coms subscribers can also select their own free telephone number. Ofcom has allocated Coms 2 million numbers in the top 178 UK geographic area codes by population which Coms subscribers can choose from. In addition, Coms can transfer a company's existing telephone number to their service. Subscription is available in a range of packages from the company's website www.coms.com.
As well as the obvious cost saving implications for businesses and consumers, the expanding market will enable Coms to develop and offer innovative new convergent services such as video calling, IP Centrex, location independence and online presence. It is these new innovative features, alongside the cost saving benefits that are likely to encourage customers away from traditional PSTN systems and combine their broadband service and voice calling system.
Coms is an Ofcom authorised Public Electronic Communications Network (PECN) and a member of the Internet Telephony Service Providers Association (ITSPA).
Coms plc (LSE:COMS) joined the AIM market ("AIM") of the London Stock Exchange on 6 September 2006.
About Richard Bennett
Richard Bennett is an executive director of Coms plc with responsibility for corporate development and mergers and acquisitions. Richard is a technology and clean-tech entrepreneur who was a co-founder of JFAX/J2 Inc, the leading unified messaging telecoms service, a founder of Green Riband and PZERO Limited.
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