Result of High Court Hearing (8256K)

TIDMADT

RNS Number : 8256K

AdEPT Telecom plc

21 July 2011

AdEPT Telecom plc

(the "Company")

Result of High Court hearing

The Board of AdEPT (AIM: ADT) are pleased to announce that following the General Meeting held on 30 June 2011 at which the resolution put to shareholders regarding the cancellation of the Company's share premium account was duly passed, a High Court Order was obtained on 20 July 2011 confirming the cancellation of the share premium account of the Company.

As set out in the Company's accounts for the year ended 31 March 2010, the Company had an accumulated deficit on its profit and loss reserve of GBP1.801m. The High Court Order has resulted in the creation of a new reserve of GBP7.965m against which the Company expects to credit its profit and loss reserve.

Once the Company has an accumulated surplus on its profit and loss account, it will be in a position to pay dividends thereafter, should the Board recommend such payment.

 
 AdEPT Telecom plc 
 Roger Wilson - Chairman           07786 111 535 
 Ian Fishwick - Chief Executive    01892 550 225 
 John Swaite - Finance Director    01892 550 243 
 Northland Capital Partners 
  Limited 
 Shane Gallwey                     020 7796 8823

This information is provided by RNS

The company news service from the London Stock Exchange

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