BATM Advanced Communications Ld
5 June 2000
BATM Advanced Communications Limited
('BATM' or the 'Company')
Admission to CREST and proposed share split
BATM Advanced Communications Limited, the London Stock
Exchange-listed developer of high speed IP packet based data
communications equipment, announces that from today BATM
shareholders will be able to settle their BATM shares
through CREST's electronic settlement system. Shareholders
can now choose to hold their BATM shares electronically
through CREST by way of CREST Depositary Instruments
('CDIs'). BATM CDIs are securities constituted under
English Law which represent BATM shares on a one for one
basis and will have the same security code (ISIN) as the
underlying BATM shares which are already listed on the
London Stock Exchange.
BATM CDIs can be credited to the same member account as all
the other CREST investments of any particular investor.
This means that, from a practical point of view, BATM shares
held through CDIs will be held and transferred in the same
way as other companies' shares participating in CREST.
BATM shareholders who wish to continue to settle in
materialised form can continue to trade by means of stock
transfer and hold share certificates.
As previously announced, the Board of BATM proposes that
shareholders amend the articles of association of the
Company at the forthcoming AGM, on 26 June 2000, to allow a
ten for one share split to be effected. Trading in the new
shares is expected to commence on Monday, 3rd July.
Further details will be announced in due course.
Further enquires:
BATM Advanced Communications Limited www.batm.com
Ofer Bar-Ner, Finance Director 00 972 3 938 6886
Ludgate Communications
Edward Macquisten 020 7253 2252