Netcall PLC
1 November 1999
NETCALL plc
PLACING OF NEW SHARES TO RAISE £2.6 MILLION (NET) FOR
EXPANSION
Netcall plc ('NetCall'), the company that provides HyperPhone solutions for
e.commerce, has announced a £2.7 million (before expenses) share placing subject
only to the consent of shareholders at an Extraordinary General meeting.
NetCall is quoted on the Alternative Investment Market ('AIM') of The London
Stock Exchange and is the World's leading provider of Internet Controlled
Telephony.
Key points:
Approximately £2.7 million, before expenses, is being raised through a placing
of 4,022,217 new shares at 67p per share, which was the price ruling at the time
marketing commenced, mainly with UK based institutions. The placing has been
arranged by Bell Lawrie Wise Speke the Company's Nominated Advisor and Broker.
The net proceeds, which amount to approximately £2.6 million, will be used to
repay short term borrowings and accelerate the marketing and promotion of the
Company's services and products.
In the interest of keeping the issue costs to a minimum, the Placing has been
conducted by way of a limited marketing exercise, without pre-emption for
existing shareholders.
The Placing is conditional only upon approval by shareholders of a resolution to
be proposed at an EGM, to be held at the Company's registered office at Tricorn
House, Five Ways, Hagley Road, Birmingham, B16 8TP at 11.00 am on Wednesday 24
November 1999. The notice convening the EGM has today been posted.
Jeffrey Rubins, Chairman of Netcall plc, commented:
'Over the last three years, we have developed an infrastructure capable of
delivering significant volumes of telephone calls requested by visitors to web
sites or recipients of emails. We are now able to utilise this infrastructure to
deliver calls requested from other more traditional sources, together with
associated information. To exploit the full potential of this opportunity,
NetCall needs to accelerate the marketing and promotion of the Company's
services and products. This placing will enable NetCall to do just that'
Enquiries to:
Jeffrey Rubins - Chairman Tel: 0171 256 5756 (on 1.11.99)
David Rothschild - Chief Executive Tel: 001480 495300 (thereafter)
Simon Rothschild/Tarquin Edwards Tel: 0171 256 5756
Millham Communications
Netcall plc web address: www.netcall.com