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Coms

  • BY: Andrew Hore |
  • POSTED: 02/01/2012 |

MXC Capital, the technology consultancy run by Ian Smith and Tony Weaver, has taken a 23.3% stake in internet telephony services supplier Coms.

The shares are being acquired as part of a £300,000 fundraising at 0.3p a share, which will more than double the number of shares in issue. Four directors of Coms subscribed for the majority of the other shares. Jason Drummond will have a 29.2% stake and his brother Justin a further 3.48%. 

At 0.57p a share, the existing share capital is valued at £490,000.

Coms believes that MXC will help the business to build up its recurring revenues and move into sustainable profitability. MXC will support further placings.

MXC has stakes in a number of Aim companies, including Maxima, Redstone and Accumuli, along with board representation. MXC will get one representative on the Coms board.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2011_27.pdf

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