Topped the share charts on Friday following a lucrative contract announcement and is rumoured to have several more contracts in the pipeline.

Website www.coms.com

Disposal of business and certain assets of Coms telecoms operations

Coms (AIM: COMS) announces that on 23 May 2015 it exchanged contracts to dispose of the business and certain assets of its telecoms operations ("Telecoms") to Timico Limited ("Timico") (the "Disposal") for an initial consideration of £2.5 million payable in cash. Completion of the Disposal is expected to take place on 31 May 2015 ("Completion"). Following the Disposal the Group will comprise its infrastructure business, Redstone and Darkside Studios.

The consideration for the Disposal comprises an initial cash payment of £2.5 million and deferred consideration of up to a further £1 million, payable in cash, based on the trading performance of Telecoms in the period to 30 November 2015. Coms will retain the benefit of its trade debtors. Timico will assume responsibility for all key supplier arrangements in respect of trading following Completion but Coms will retain certain liabilities, including the two leasehold properties occupied by Telecoms. Under a transitional services agreement, Coms is required to retain the Stokenchurch offices for up to six months post Completion.

The Board of Coms plc believes that the Disposal is in the best interests of the Company and all stakeholders. In particular, the Telecoms customers will benefit from the extensive product delivery capability that Timico can offer. Coms management will assist in the handover process to ensure a smooth transition to the new owners is achieved.


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Coms (AIM: COMS), is pleased to announce that Charles Stanley Securities has placed, on the Company's behalf, 200,000,000 new ordinary shares at 0.5 pence per share, with certain institutional and other investors to raise £1 million.

The Directors recognise the importance of pre-emption rights to Shareholders and consequently 216,278,701 new ordinary shares will be offered to existing Shareholders at 0.5 pence per share by way of the Open Offer, to raise up to £1.08 million. The Open Offer will provide Qualifying Shareholders with an opportunity to participate in the Capital Raising by both subscribing for their respective basic entitlements and by subscribing for additional new Ordinary Shares under the Excess Application Facility, subject to availability. The Open Offer is not being underwritten.

In the event that the Capital Raising is fully subscribed, the Company will receive gross proceeds of £2.08 million.

Further details of the Placing & Open Offer are set out below.

Background to the Capital Raising and use of proceeds

On 26 May the Company announced that it had exchanged contracts to dispose of the business and certain assets of Telecoms to Timico Limited for an initial consideration of £2.5 million payable in cash and deferred consideration of up to a further £1 million, payable in cash, based on the trading performance of Telecoms in the period to 30 November 2015. Completion of the Disposal is expected to take place on 31 May 2015.

Telecoms consisted of a number of acquisitions that had never been fully integrated. Despite attempts to restructure the business, trading losses continued and the overhead structure was such that the Board concluded it would take significant further investment and considerable management focus for the business to achieve profitability.

The proceeds of the Disposal will be applied to reduce the Group's liabilities and to reduce the Group's overdraft facility from the current £3 million level to below £2 million.

Following the Disposal the Group will comprise Redstone and Darkside Studios.

The Disposal will remove loss making businesses and enable the management team to focus on growing our core infrastructure business, Redstone. The Board plans to develop Redstone's leading Smart Buildings product offering and expand further its successful managed services business. The Board intends to capitalise on accelerating growth in the construction industry and, in particular, the fast growing Smart Buildings sector where Redstone has already delivered strong referenceable solutions to a number of landmark projects. The potential in these markets as they go through both structural and technological change is enormous. Redstone is well positioned to service this opportunity and our focus is to develop this capability through a combination of product development, organic growth and acquisitions.

The proceeds of the Capital Raising will be used to pursue this strategy and to augment working capital.

Wonderful - not!

Completion of the disposal of business and certain assets of Coms telecoms operations

OPEN OFFER
The Company has announced that 216,278,701 Open Offer Shares will be offered to qualifying Shareholders by way of an Open Offer. The Open Offer will provide qualifying Shareholders with an opportunity to participate in the capital raising by both subscribing for their respective basic entitlements and by subscribing for additional New Ordinary Shares under the excess application facility, subject to availability.
Terms: 2 Open Offer Shares for every 9 Existing Ordinary Shares at an issue price of GBP0.005 per Share.
Expected Timetable:
28 May 2015 – Record Date,
19 June 2015 – General Meeting

Placing & Open Offer and Directorate change

Placing & Open Offer of 416,278,701 new Ordinary Shares to raise up to £2.08 million

Coms (AIM: COMS), is pleased to announce that Charles Stanley Securities has placed, on the Company's behalf, 200,000,000 new ordinary shares at 0.5 pence per share, with certain institutional and other investors to raise £1 million.

The Directors recognise the importance of pre-emption rights to Shareholders and consequently 216,278,701 new ordinary shares will be offered to existing Shareholders at 0.5 pence per share by way of the Open Offer, to raise up to £1.08 million. The Open Offer will provide Qualifying Shareholders with an opportunity to participate in the Capital Raising by both subscribing for their respective basic entitlements and by subscribing for additional new Ordinary Shares under the Excess Application Facility, subject to availability. The Open Offer is not being underwritten.

In the event that the Capital Raising is fully subscribed, the Company will receive gross proceeds of £2.08 million.


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2 Open Offer Shares for every 9 Existing Ordinary Shares

StockMarketWire.com
Coms has raised £1.08m, gross, through an open offer of 216,278,701 new ordinary shares at 0.5 pence per share.

The open offer was announced on 29 May as part of a proposed capital raising to raise gross proceeds of up to £2.08m.

The company said it received valid acceptances in respect of 292,837,453 open offer shares - approximately 135% of the shares offered.

All eligible applications will be allocated their pre-emption entitlements. All eligible applications under the excess application facility will be scaled back pro rata to the number of excess shares applied for and refund payments for all unallocated excess applications will be made as soon as reasonably practical.

Non-executive chairman Frank Beechinor said: "We are very appreciative of the strong support for the open offer from our shareholders and are pleased that the full amount of £1.08 million will be received by the company."

Still falling back.

StockMarketWire.com
Coms has appointed Mark Braund as chief executive and Spencer Dredge as chief financial officer.

Braund has been CEO of Interquest Group for 4 years and has extensive experience in senior roles in the UK and North America. He has been a non-executive director of Coms since 9 March. He will assume his full time CEO duties once he has completed an orderly handover of his responsibilities at Interquest.

Dredge has been an interim finance director at Coms since March and has extensive turnaround experience, particularly with businesses in the telecoms, IT services and software sectors.

Chairman Frank Beechinor said: "Since the departure of the previous CEO in March our priority has been to appoint an experienced senior executive management team. We are delighted that Mark has agreed to take the role of chief executive at Coms. Since joining the board as a non-executive director earlier this year, Mark has made a valuable contribution and I am certain that Coms and its shareholders will greatly benefit from Mark's experience in his new full time executive role.

"We are also delighted to announce the appointment of Spencer as CFO. Spencer has extensive experience as an accountant in both public and private companies. In the time he has spent with the group since March of this year has gained an in-depth understanding of the operations of Coms and demonstrated his capacity for hard work."

Final Results

Financial results
· Revenue grew 228% to £46.0m (2014: £14.0m) reflecting acquisitions and a full year of contribution from Redstone

· The Group generated a loss for the year of £15.1m (2014: profit of £1.0m) due largely to significant impairments of c.£10m relating to the Telephony Services division

· Adjusted LBITDA* was £3.5m (2014: EBITDA of £1.0m)

· Basic loss per share of 1.57p (2014: earnings per share of 0.24p)

· Year-end net overdraft of £0.4m (2014: net cash of £1.0m)

· Net cash outflow of £1.4m (2014: inflow of £0.8m) reflecting significant investments and operating losses funded through the Group's overdraft and a placing in February 2014 to raise £7.9m net of expenses.

* Before net finance costs, depreciation, amortisation, integration costs and transactional items, impairment charge and share based payments.

Operating performance
· All trading losses were generated by the Telephony Services division which despite restructuring attempts continued to incur significant losses.

· The infrastructure and overhead base of the Telephony Services division would have required significant further investment as well as management focus to achieve profitability. The Board did not think it wise to continue with such investment which is why the trade and assets of the Telephony Services division were sold after the year end.

· Redstone and Darkside Studios traded profitably but suffered from the uncertainty created by the poor trading in the Telephony Services division.

Post year end developments

· Dave Breith resigned as CEO in March 2015 and the Non-Executive Directors have since been responsible for the running of the business.

· Mark Braund and Guy van Zwanenberg were appointed as Non-Executive Directors in March 2015.

· The loss making Telephony Services business was sold to Timico Limited for an initial cash consideration of £2.5m on 31 May 2015. Following the disposal the Group can focus on developing Redstone, with its leading infrastructure, Smart Buildings and IT Managed Services business.

· A successful placing and open offer was undertaken in June 2015 to raise £2.0m net of expenses to provide additional working capital.

· On 14 July the Company announced the proposed appointment of Mark Braund and Spencer Dredge as CEO and CFO.

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The results are a mess but is there light on the horizon?

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AGM Statement and Progress Update
Coms plc is today issuing a progress update in relation to the period from 1 February 2015. This statement will be delivered to those attending the Annual General Meeting today.

As reported in the 2015 Annual Report, the losses that will be reported in respect of the telecommunications businesses in the four months to the end of May are expected to be such that the Group will report a further substantial loss in respect of the first half. Since disposing of the Company's telecommunications businesses on 31 May 2015, the Group now comprises the core business of Redstone Converged Solutions Limited ("Redstone") and Darkside Studios. Darkside Studios is expected to report a small loss in the first half as a result of disruption caused by the problems in the telecommunications division. However, Redstone has had a good start to the year and its profits are expected to exceed the ongoing plc overheads and Darkside Studios' loss.

In the first half Redstone secured £13m of new contracts, most of which will be executed in the second half of the year and which demonstrate Redstone's broad product offering and diversified client base. Contracts were signed with international financial services companies, international accountancy firms, a search engine company, a commercial property company and a national gallery. Two new smart buildings contracts were signed and other contracts spanned ICT services, designing and delivering a data centre, supplying data centre services and delivering infrastructure.

Following the disposal of the telecommunications businesses, the Board has started to make some progress in extricating itself from liabilities associated with those businesses. Heads of terms have been agreed for the lease over the office in Brentwood to be assigned to a new tenant with effect from mid October 2015. This office has a monthly running cost of approximately £30,000 and the lease expiry is 2024. A further announcement will be made once contracts have been exchanged. The Group is also left with the lease over the Stokenchurch property and the Board is continuing to explore its options for exiting that property.

We are pleased to report that Spencer Dredge has now taken up the role of Chief Financial Officer of the Company. Mark Braund will take on the role of Chief Executive with effect from 1 January 2016.

With the new management team in place, and some although not all, of the legacy issues having been resolved, the Board expects the Group to enter a more successful period of trading.

StockMarketWire.com
Coms - a leading provider of infrastructure and smart building solutions - saw revenues from continuing operations rise to £21.3m in the six months to the end of July - up 37% on last time.

Adjusted EBITDA rose by 40% to £0.7m while adjusted EBITDA pre central costs increased by 57% to £1.1m.

Coms said that results of continuing operations reflect only the performance of the Redstone, Darkside Studios businesses and the central plc overhead. Profit after tax from continuing operations was £10,000 (2014 H1: £0.2m).

Chairman Frank Beechinor said: "The past six months have been a testing period, where changes at Board level have resulted in the Group reviewing its strategy, culminating in the disposal of our loss making Telephony Services division followed by an injection of fresh capital by way of new equity. I'm encouraged by the fact that during this period of change the continuing operations have performed well."

Mark Braund, Chief Executive Officer, bought 1,000,000 shares in the company on the 14th December 2015 at a price of 1.00p. The Director now holds 5,500,000 shares.

Trading update
Coms plc (AIM:COMS) the leading provider of Infrastructure and Smart Building solutions is pleased to announce that Group EBITDA (after central costs) from continuing operations for the financial year ended January 2016 is positive and will be ahead of management expectations. This has primarily been driven by continued robust trading within the core operating division, Redstone, where both revenue and operating profit have been significantly ahead of the prior year.

As reported on 27 January 2016, the Group has resolved the vast majority of legacy issues that were inherited by the Board and has focused its efforts on developing the Group's core Redstone business, which has market-leading product offerings in Infrastructure and Smart Buildings. Since the disposal of the Telecoms business, Redstone has benefited significantly from the Board's focus and the Group's increased financial stability. The Group enters the new financial year with a new and experienced executive management team in place and with a sales pipeline at its highest for 6 months.

The Company finished the year with a net cash balance of c.£1.0 million, which has been achieved through stronger than expected cash generation within Redstone.

Appointment of joint broker

The Company also announces the appointment of Whitman Howard Limited as joint broker, effective immediately.

Mark Braund, CEO of Coms plc, commented:

"I am delighted to report in my first trading update as CEO that the operating business of the Group is in good health following a difficult time earlier last year. Since the disposal of the heavily loss-making Telecoms business in May 2015, we have successfully strengthened the balance sheet and reduced overheads. We have also continued to develop our core Redstone business, through the investment of further capability in Smart Building technology, including in-building wireless, cellular and work space management solutions, all of which is beginning to bear fruit.

On behalf of the Board, I wish to thank all of our colleagues for their commitment and dedication in helping achieve this significant turnaround. I would also like to express thanks to the Chairman, Frank Beechinor, and the non-executive directors for their exceptional contribution, stepping in to run the Company in difficult circumstances in March 2015.

We now look forward to the coming financial year from a position of strength and with a view to restoring significant shareholder value through a combination of organic growth and strategic acquisitions."

There would seem to be a light at the end of the tunnel!