ADT Adept Technology Group Plc

TIDMADT

RNS Number : 2403J

AdEPT Telecom plc

07 September 2016

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            Resultant shareholding 
                               sold 
Vendor                   Number     % of issued        Number     % of issued 
                    of Ordinary   share capital   of Ordinary   share capital 
                         Shares                        Shares 
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            Resultant shareholding 
                            purchased 
                        Number     % of issued        Number     % of issued 
                   of Ordinary   share capital   of Ordinary   share capital 
                        Shares                        Shares 
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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 07, 2016 11:49 ET (15:49 GMT)

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