Released: 29/08/2006
RNS Number:1898I
Spiritel PLC
29 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 to
announce that it has issued 10,000,000 new ordinary shares of 1p each in the
Company at a price of 2.5p a share to Wills & Co Stockbrokers, raising net
proceeds of £250,000 for the Company. The shares have been registered in the
name of Pershing Securities Limited. It is expected that these new shares will
be admitted to trading on AIM on 31 August 2006. Following admission, the
Company'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 the
delivery of Spiritel's planned acquisition strategy detailed in an announcement
on 5 July 2006 when the Company said it had already identified a number of
potential acquisition targets, typically of small privately held businesses that
offer telecoms products and services direct to SME and corporate customers.
Alastair Mills, Spiritel's Chief Executive, commented: "We are delighted that
Wills & Co Stockbrokers has increased its holding in the Company by subscribing
for these new shares. The funds raised will help us to drive forward our
acquisition strategy, which benefits from our already having identified a number
of exciting opportunities."
For further information:
Spiritel plc 020 7160 0100
Alastair Mills, Chief Executive
Buchanan Communications 020 7466 5000
Mark Court
Mary-Jane Johnson
Notes for Editors:
About Spiritel plc
Spiritel plc (AIM: STP) is a telecommunications services and products company
that joined the AIM market of the London Stock Exchange in July 2004. Its
services include call termination and in addition it has developed a suite of
leading-edge VoIP products, positioning the Company to benefit from the
migration 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
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