Orient Telecoms PLC First Day of Dealings & Publication of Prospectus (5266U)
October 25 2017 - 3:00AM
UK Regulatory
TIDMORNT
RNS Number : 5266U
Orient Telecoms PLC
25 October 2017
25 OCTOBER 2017
ORIENT TELECOMS PLC
("Orient" or the "Company")
Admission to Trading and First Day of Dealings & Publication
of Prospectus
Orient Telecoms Plc (LSE:ORNT), a company established to provide
managed telecommunications services using the network
infrastructure owned by other network operators, is pleased to
announce that its entire issued ordinary share capital consisting
of 10,000,000 ordinary shares of 10 pence each (the "Ordinary
Shares") will today be admitted to the Standard Segment of the
Official List of the UK Listing Authority and to trading on the
London Stock Exchange plc's Main Market for listed securities
(together, "Admission"). Dealing will commence at 8:00 a.m. today,
25 October 2017, under the TIDM code "ORNT" (ISIN:
GB00BYPHCZ29).
Highlights
-- Orient was incorporated with the intention of providing
managed telecommunications services using the network
infrastructure owned by other network operators to enable cost
effective and rapid connectivity to large bandwidth consumers
initially in Singapore and subsequently within other Southeast
Asian countries.
-- The Company aims to be a new regional network
telecommunications provider offering connectivity and selling
managed network services across Southeast Asia. The Company's
service offering and the construction of its overlay network will
require low capital expenditure and management believe this will
enable it to offer attractive pricing to customers in the
region.
-- The Board, comprising Mark Richard Logan Pincock (CEO), Sayed
Mustafa Ali (CTO), Ross Andrews (NED) and Leon Santos (NED),
believe that their broad collective business experience and their
network of contacts within the region will enable the Company to
pursue its strategy.
Availability of the Prospectus
The Prospectus has been approved by the UK Listing Authority and
is available for inspection at
http://www.morningstar.co.uk/uk/NSM
Copies of the Prospectus are also available at the Company's
registered address at Suite A, 6 Honduras Street, London EC1Y 0TH
and on the Company's website at
http://www.orient-telecoms.com/page/uploads/prospectus.pdf.
Terms used in this announcement which are not defined herein
shall have the same meanings as set out in the Prospectus.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Publication of the Prospectus 13 October 2017
Admission and commencement of dealings
in Ordinary Shares 8.00 a.m. on 25 October 2017
CREST members' accounts credited
in respect ofOrdinary Shares 8.00 a.m. on 25 October 2017
PLACING STATISTICS
Total number of Ordinary Shares
in the Placing 9,000,000
Total number of Ordinary Shares
in issue following the Placing and
Admission 10,000,000
Placing Price per new Ordinary Share GBP0.10
Estimated Net Proceeds receivable GBP775,000
by the Company
Orient Telecoms Plc's CEO, Mark Pincock commented:
"Orient Telecoms Plc's strategy is to develop a range of
customer led end-to-end solutions in relation to outsourcing and
managed services in the information and communication technology
industry within Southeast Asian countries.
The management team of the Company have significant experience
in the Telecommunication sector specifically in Singapore and
South-east Asia region. The Directors have already initiated
discussions with several current fibre optic infrastructure owners
within the region in respect of the use of their
infrastructure.
The growing number of new technology-services companies offering
online applications services will seek reliance on an outsourcing
model such as the one provided by the Company for quick and
efficient solutions for their communication needs. I strongly
believe that there is a demand from customers for having a managed
service which outsources the integration and complexities of
dealing with different service providers within the region".
For more information:
Orient Telecoms Plc
Mark Pincock mark@orient-telecoms.com
Optiva Securities Ltd
+44 (0) 20 3137
Jeremy King 1902
This information is provided by RNS
The company news service from the London Stock Exchange
END
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