Completion of GBP 5m Offer
15 Abril 2008 - 3:34AM
UK Regulatory
RNS Number:3391S
Teleset Networks PCL
15 April 2008
15 April 2008
Teleset Networks Public Company Limited
("Teleset " or the "Company")
Completion of �5.0 million Pro Rata Offer
Teleset Networks PCL is pleased to announce the successful closing of its pro
rata offer to shareholders on 14 April 2008.
The offer, which was announced on 5 March 2008, was over-subscribed and excess
share applications have been scaled back accordingly. The pro rata offer has
enabled the Company to raise �5.0 million via the issue of 20 million new
ordinary shares at 25 pence per new ordinary share of EUR 0.02.
The Company confirms that these 20 million new ordinary shares have been issued
and allotted, and will be admitted to trading on AIM on Friday 18 April 2008.
The total number of ordinary shares in issue following this issue
is 157,556,715.
Following the pro rata offer the Company has the following shareholders
holding more than 3%:
Manglis Holdings Limited: 24.44%
Templeton Strategic Emerging Market Funds II: 20.54%
F & S Telecom Limited: 15.22%
Celltech Limited: 12.39%
Black Sea Trade & Development Bank 6.05%
Teledev East Limited 5.39%
Court Holdings Inc 3.04%
CONTACT
Teleset Networks +357 22 450 790
Yiannis Demetriou
Blue Oar Securities Plc - Nominated Adviser +44 20 7448 4400
John Wilkes / Shane Gallwey / Toby Gibbs
Metropol (UK) Limited - Broker +44 20 7439 6880
Alexander Selegenev
Bankside Consultants - Financial PR adviser +44 20 7367 8888
Simon Bloomfield or Steve Liebmann
About Teleset
Teleset is a leading private fixed-line telecom operator in the Republic of
Tatarstan, Russian Federation, where the business has been operating since 1996.
In Kazan, the capital of the Republic of Tatarstan, Teleset owns an all-digital
local network with current switching capacity of 130,000 lines. Its US$17
million acquisition of TNPKO in November 2006 improved its coverage of Kazan
where its market share is approximately 27 per cent for voice traffic and 29 per
cent for data traffic.
Management's strategy is to become Tatarstan's leading telecom operator and to
expand into other cities within the Russian Federation, both organically and
through carefully selected acquisitions. The US$10.8 million acquisition in
November 2007 of OOO Svyazinvest, the third largest fixed-line telecom operator
in Naberezhnie Chelny, was the first strategic move by Teleset outside Kazan.
Naberezhnie Chelny, where the Company has a market share of approximately 10 per
cent, is the second largest city after Kazan in the Republic of Tatarstan.
Another key objective is to generate incremental revenues from its network. To
this end, in August 2007 the company launched a new cable TV service in four
districts of Kazan, (Aviastroitelny, Kirovsky, Novo-Savinovsky and Privolzhsky),
with a total addressable market of approximately 250,000 flats. The Company
plans to roll out the service in the other three districts of Kazan.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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