BATM Advanced Communications Ld
30 August 2000
BATM Advanced Communications Limited
BATM Advanced Communications Limited ('BATM' or the 'Company')
announces that it has conditionally agreed to acquire a 19.9%
stake in Lantech Computer Company Limited, a Taiwanese
manufacturer of data communications products. The consideration
amounts to approximately US$5M payable in 503,000 new BATM
ordinary shares, expected to amount to approximately 0.13 per
cent. of the existing issued share capital of the Company. The
final number of shares issued will be based on the average share
price recorded during the three months prior to completion.
Completion is expected to take place on November 1, 2000.
Application will be made for the new shares to be admitted to the
United Kingdom Listing Authority, and for such shares to be
admitted to trading by the London Stock Exchange on its market
for listed securities. The new ordinary shares are expected to
commence trading on November 15, 2000.
Lantech is a provider of an extensive range of switches, hubs,
routers, network interface cards and other accessories for data
networks. The corporate headquarters, manufacturing and R&D
facilities are located in Taipei, Taiwan with approximately 200
employees. Lantech's audited net profit for 1999 was
approximately US$0.6M on revenues of US$27M and its net assets as
of 31/12/99 is were approximately US$11M.
'We believe the relationship with Lantech will enable us to
expand rapidly our manufacturing capacity and enhance other
business relationships in Asia' said Dr Zvi Marom CEO of BATM,
'We appreciate Lantech's entrepreneurial environment and believe
that together we could explore new ideas for the benefit of both
companies.'
Thomas Lee, founder and CEO of Lantech said: 'We are happy to work
with BATM on this project. I am confident that we can fully
utilise our product facility for BATM and also to introduce
BATM's high-end ranged product successfully into the Asian
market. I believe we can co-operate seamlessly on any project and
also at the same time to fully take advantage of our own
individual technical expertise. I am sure this agreement with
Lantech will accelerate BATM's growth into new areas.'
Shlomi Cohen, BATM VP of Business Development, will be joining
the board of Lantech as a non-executive director on completion.
For further information please contact: www.batm.com
BATM 00 972 3 938 6888
Dr Zvi Marom, Chief Executive
Dresdner Kleinwort Benson 020 7623 8000
Mark Smith
Shore Capital and Corporate Limited 020 7408 4090
Graham Shore
Golin/Harris Ludgate 020 7253 2252
Edward Macquisten
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