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Wi-Fi Wireless Antennas Manufacturer Sarantel Begins Trading on AIM
Date:
Topic Finance, Investment and Stocks
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Wi-Fi Wireless Antennas Manufacturer Sarantel Begins Trading on AIM
Wellingborough UK, -/4 March, 2005 - Wi-Fi Technology News/- Sarantel, the leading manufacturer of revolutionary filtering antennas for wireless devices, announced completion of its Admission to AIM and the commencement of trading in its Ordinary Shares.
The Company raised approximately ?16.7million (net of expenses) through a placing by Arbuthnot Securities of 21,951,220 ordinary shares at 82 pence per share. The Placing Shares represent approximately 42 percent of the Enlarged Share Capital of the Company following Admission.
On Admission, Sarantel had a market capitalisation of approximately ?43.0 million. Arbuthnot Securities Limited, nominated adviser and broker to Sarantel placed all of these shares with institutional and other investors. Sarantel will be included in the IT Hardware sector (93) within the Telecommunications equipment sub-sector (938) and will have a RIC code of SLG.L.
Commenting on the Admission, David Wither, CEO said: "We are very pleased to have had such an overwhelmingly positive response to our fund raising and are delighted to be joining AIM today. The money raised and the profile the listing gives us will help us with our ambition to position Sarantel as a major supplier of antenna technology to the wireless devices market worldwide."
For further information visit: http://www.sarantel.com/
Arbuthnot Securities Limited, which is authorised and regulated by the Financial Services Authority, is acting for the Company only and will not be responsible to any other person for providing the protection afforded to customers of Arbuthnot Securities Limited or for advising such person on the matters referred to in this announcement. Arbuthnot Securities Limited has not approved the contents of, or any part of, this announcement.
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