REG - Coms PLC - Result of AGM & Change of Name to RedstoneConnect <Origin Href="QuoteRef">AMAN.L</Origin>

Smartspace SoftwareAnnouncement

27/06/2016 18:20

RNS Number : 4042C
Coms PLC
27 June 2016
27 June 2016
COMS Plc
("Coms" or the "Group")
Result of AGM
&
Change of Name to RedstoneConnect
Coms (AIM: COMS), a leading provider of technology and services for smart buildings and commercial spaces, announces that all resolutions proposed at the Annual General Meeting ("AGM") of the Group held earlier today were duly passed. 
Shareholders approved the renaming of the Group to RedstoneConnect plc ("RedstoneConnect") (AIM: REDS), reflecting the Group's focused strategy of providing technology and services for smart buildings and commercial spaces through its core businesses, Redstone and Connect IB. 
RedstoneConnect's key strategic priorities include:
building on the Group's established presence in the high growth smart buildings and smart technologies arena;
leveraging cross-selling opportunities throughout the Group's substantial customer base, includingmany blue chip organisations; 
developing and expanding the Group's annuity revenue streams in software, managed services and support and maintenance;
 rolling out the new occupancy management software solution, OneSpace;
broadening the Group's intellectual property applications to a wider spectrum of smart environments; 
investing in research and development that underpins the next generation of product development; and
evaluating selective acquisition opportunities that support the Group's strategy of enhancing the portfolio of products and services for smart buildings and commercial spaces. 
The change of name will take effect from 8 a.m. on 28 June 2016 concurrent with the adoption of a new ticker symbol: REDS.
Shareholdings will be unaffected by the change of name and existing share certificates should be retained as they will remain valid for all purposes. Any new share certificates issued after 28 June 2016 will bear the name RedstoneConnect Plc.
Mark Braund, Chief Executive of RedstoneConnect commented:
"We have successfully repositioned the business to focus on a defined strategy to use technology and innovation to make buildings and commercial spaces smarter. Our new name and identity reflects this strategic direction.
At the core of our offering is the Redstone operation, a leading IT network and smart building systems integrator, with a blue chip customer base and a thirty hear heritage. This has been enhanced through the acquisition in March of Connect IB, a smart buildings software and solutions business. The opportunities for deploying smart technology into buildings and commercial spaces continues to grow at pace and we are delighted to have already secured a number new contracts which utilise services from across the Group. I look forward to continuing to update shareholders on our progress through the remainder of the current financial year."
Enquiries:
Coms Plc
Mark Braund (CEO)
Spencer Dredge (CFO)
+44 (0)20 7886 2976
Panmure Gordon (UK) Limited (Nominated Adviser and Joint Broker)
Karri Vuori / Adam James / James Greenwood
+44 (0)207 886 2500
Whitman Howard Limited (Joint Broker)
Nick Lovering
+44 (0)207 659 1234
Vigo Communications (Financial Public Relations)
Jeremy Garcia / Ben Simons / Fiona Henson
comsplc@vigocomms.com
+44 (0)20 7830 9700

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