Newport Networks completes Share Placing to raise £6m
Caldicot UK, 28 August, 2007 Following the announcement on 30 July of the proposed share placing, Newport Networks is pleased to announce the successful completion of the placing amongst existing investors. The placing raised £6m for the Company with funds received on 24 August.
Wesley Clover Corporation, the personal investment company of Newport Networks Chairman Sir Terry Matthews, now owns 109.6m ordinary shares in Newport Networks representing 29.9% of the issued share capital.
About Newport Networks
Newport Networks designs, develops and supplies session border controller solutions. The product range, consisting of the award winning 1460 session border controller and 310 border gateway, addresses the key service delivery issues of quality and security in multimedia networks. The products enable service providers to create new revenue streams from VoIP and MoIP while controlling the cost of delivery. Newport Networks' product innovations and leadership have been recognised through Frost & Sullivan's 2006 IP Communications Next-Generation Carrier Infrastructure Entrepreneurial Company of the Year award. Founded in 2000, Newport Networks is headquartered in the UK with its research and development facility in High Wycombe, with sales offices and distribution partners worldwide. Newport Networks Group PLC is listed on the Alternative Investment Market of the London Stock Exchange. Further information at www.newport-networks.com
For further information please contact:
Newport Networks Group PLC Tel: 01291 435 700
John Everard, Chief Executive
John Ackroyd, Finance Director
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