Appointment of CEO

RNS Number : 1139V

Coms PLC

09 January 2013

 



9 January 2013

Coms plc

("Coms", the "Company" or the "Group")

Appointment of David Breith as Chief Executive Officer

Coms plc (AIM:COMS), the internet telephony service provider, is pleased to announce the appointment of award-winning telecoms entrepreneur David Breith as Chief Executive Officer with immediate effect.  Richard Bennett, CEO since January 2011, remains an executive director with specific responsibility for corporate development and M&A.

David Breith has recently invested £237,825 in Coms through the purchase 63,420,000 new ordinary shares at the market price of 0.375p per share and also 18,000,000 shares at 0.5p per share, a significant premium to the placing price. This takes his overall shareholding to 25.44% of the company.

Among Breith's many successful business ventures was O-bit telecom, which he established in early 2002 and was successfully sold to Daisy Group PLC in February 2011.  O-bit offered a full range of telecoms products and services as an alternative to BT and was a key aggregator in the telecoms market supplying hundreds of telecoms resellers as well as having a wide range of extremely large direct customers. 

During his career Breith has achieved an abundance of awards and recognitions. These include Buckinghamshire Entrepreneur of the Year, Sunday Times Tech Track 2007-2009 and Deloitte's Fast 50-500 UK and EMEA awards 2007-2008. As well as being a Buckinghamshire Ambassador, Breith was also made Entrepreneur of the year in 2010 whilst also becoming an Ernst & Young Entrepreneur top 10 finalist.

Richard Bennett, Director, commented: "I am delighted to welcome David to the Company. He is a successful entrepreneur in the telecoms sector with a proven track record in developing businesses, and a wealth of experience in all aspects of the industry.  David has been building profitable businesses throughout his career and his appointment marks an important step in the expansion of the management team to accelerate Coms growth."

David Breith, CEO, said: "I am truly delighted to be joining Coms. The Group has great potential and I am looking forward to working with the team to drive the business forward and achieve the growth of which I know it is capable. The opportunity here is unique; the business is primed and ready for substantial growth which I believe I can deliver based on my attributes and track record in the industry."

David Breith is currently a director or partner of the following:

Askmerlin Limited

Blabbermouth Marketing Limited

Breith Hill Limited

DBBC Invest Limited

Epicco Limited

ISBSL Limited

ISBSL Publishing Limited

ISBSL Records Limited

IShouldBeSoLucky Limited

Jedbull LLP

O-bit Media Limited

Payment Centre Limited

Premium O Limited

Purple Networx Limited

Talking Comms Limited

Talking Communications Limited

VITRX Limited

Within five years prior to the date of his appointment Mr Breith was, but is no longer, a director of the following companies:

O-Bit Telecom Limited

Gravitas SAP Resourcing Limited

Mindvision Design Limited

Multimedia Sports Betting Limited

Mr Breith was a director of Dabcom Limited at the time it was placed into administration on 15 June 2001 with an estimated deficiency to members of £3,102,993.  Dabcom Limited was dissolved on 25 November 2003.

Mr Breith was adjudged bankrupt in April 2002.  The bankruptcy was discharged in April 2005.

Save as disclosed above there is no additional information to be disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies.

Contact:

Coms plc

Dave Breith / Richard Bennett [phone]

Northland plc (Nominated Adviser and Broker)

Luke Cairns / William Vandyk [phone]

XCAP Securities Limited (Broker)

Jon Belliss [phone]

Newgate Threadneedle (PR)

Graham Herring [phone]

 

END

 

 

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