BLG Belgravia Tel.

RNS Number:7292X
Belgravia Telecom Ltd
19 April 2004

For immediate release 19 April 2004



BELGRAVIA TELECOM LIMITED


ADMISSION TO AIM



Belgravia Telecom Limited ("Belgravia" or the "Company") is today admitted to
trading on the Alternative Investment Market (AIM) of the London Stock Exchange.



Belgravia, incorporated in Jersey on 21 January 2004, has been established to
investigate suitable acquisition targets and intends to acquire substantial
interests in companies that provide low-cost telecommunications services
principally within the UK and Europe.



The Directors, Duncan Hickman and Fikry Hemaya, believe that the continued
deregulation of the UK telecommunications industry offers significant
acquisition opportunities for Belgravia and that their broad collective
experience in the field of corporate finance, mergers, acquisitions and
corporate financial management will assist them in the identification and
evaluation of acquisition opportunities.



The Directors aim to make their first investment or acquisition as quickly as
possible and in any case within two years of the date of Admission at which time
they will look to add additional pertinent expertise to broaden the board.  It
is their intention to generate commercial and operational efficiencies by
centralising the key strategic and operational functions of the acquired
interests.



A total of #300,000 was raised through the issue of 3,000,000 Ordinary Shares in
a Private Placing prior to Admission and by way of a Subscription which will
leave a total of #235,500, after deducting expenses of the Private Placing and
Admission, available to be used by Belgravia for the purposes outlined above.
The funds available following Admission will enable the Company properly to
assess suitable opportunities and conduct comprehensive due diligence on target
companies that meet Belgravia's strategic focus.



Duncan Hickman, Non-Executive Chairman, commented: "The deregulation of the UK
telecoms industry has resulted in a substantial increase in new entrants to the
market.  We believe that the acquisition of such companies will provide the
opportunity to build value, both through the application of management and
strategic skills and the creation of synergies.



"Admission to AIM will provide a platform for the development of Belgravia's
business by giving us access to capital and facilitating our ability to take
advantage of acquisition opportunities.  We have indentified a number of such
target companies and look forward to making further announcements in due course.
"



Numerica Capital Markets Limited is Nominated Adviser and Standard Bank (Jersey)
Limited is Broker to the Company.  The solicitors to the Company are Bircham
Dyson Bell, the Jersey Advocates are Bedell Cristin and the accountants are HLB
Jackson Fox.



For further information please contact:
Duncan Hickman, Non-Executive Chairman              James Hannon
Belgravia Telecom Ltd                               Numerica Capital Markets Ltd
Tel: +44 (0) 1534 840 888                           Tel: +44 (0) 20 7467 4000


John West / Claire Melly
Tavistock Communications
Tel: +44 (0) 20 7920 3150



The information contained in the press release is derived from and should be
read in conjunction with the full text of the admission document dated 13 April
2004



Notes to editors:



The Directors



Duncan Hickman (Non-executive Chairman)

Duncan has 18 years experience in offshore asset management.   He has acted as
sterling positions clerk at Kleinwort Benson (C.I.) Ltd, dealing supervisor at
TSB Fund Managers (C.I.) Ltd and unit trust portfolio manager at ANZ Grindlays
Bank in Jersey.  He established the "Fund of Funds" business for
PricewaterhouseCoopers and was head of the offshore sales operation of Fidelity
Investments.   Most recently, as one of the founding partners, Duncan spent over
6 years at the Liberty Ermitage Group.  Duncan is currently Chairman and Chief
Executive of Glow Communications plc, an AIM quoted company which carries on
business providing bundled telecommunications services.



Fikry Hemaya (Non-executive Director)

Fikry has been active in offshore trust and private banking for a number of
years.   He has worked for Lloyds TSB Bank Plc both in the UK and overseas and
for Bank of America as Vice President and Treasurer of its trust company in
Jersey.   Fikry also has investment and corporate banking experience in the
fields of capital markets, treasury and trade finance and he has acted as a
corporate finance consultant advising on the restructuring and sale of
businesses and acting as lead negotiator on the sale transactions.   Fikry
qualified as a chartered accountant with KPMG.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCSFDSUUSLSEEL

Grafico Azioni Belgravia Tel. (LSE:BLG)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Belgravia Tel. (LSE:BLG)
Storico
Da Giu 2023 a Giu 2024