logo-loader
viewBATM Advanced Communications Ltd

Receipt of c. $3.4m from sale of IBC holding

/**/ h1{margin-top:6.0pt;margin-right:35.4pt;margin-bottom:0cm;margin-left:35.4pt;margin-bottom:.0001pt;text-align:justify;text-indent:-35.4pt;font-size:12.0pt;font-family:"Times New Roman","serif";layout-grid-mode:line;font-weight:normal;}h2{margin-top:6.0pt;margin-right:35.4pt;margin-bottom:0cm;margin-left:70.8pt;margin-bottom:.0001pt;text-align:justify;text-indent:-35.4pt;font-size:12.0pt;font-family:"Times New Roman","serif";layout-grid-mode:line;font-weight:normal;}h3{margin-top:6.0pt;margin-right:35.4pt;margin-bottom:0cm;margin-left:106.2pt;margin-bottom:.0001pt;text-align:justify;text-indent:-35.4pt;font-size:12.0pt;font-family:"Times New Roman","serif";layout-grid-mode:line;font-weight:normal;}h4{margin-top:6.0pt;margin-right:35.4pt;margin-bottom:0cm;margin-left:177.1pt;margin-bottom:.0001pt;text-align:justify;text-indent:-35.4pt;font-size:12.0pt;font-family:"Times New Roman","serif";layout-grid-mode:line;font-weight:normal;}h5{margin-top:12.0pt;margin-right:35.4pt;margin-bottom:3.0pt;margin-left:212.5pt;text-align:justify;text-indent:-35.4pt;font-size:11.0pt;font-family:"Times New Roman","serif";layout-grid-mode:line;font-weight:normal;}h6{margin-top:12.0pt;margin-right:35.4pt;margin-bottom:3.0pt;margin-left:247.9pt;text-align:justify;text-indent:-35.4pt;font-size:11.0pt;font-family:"Times New Roman","serif";layout-grid-mode:line;font-weight:normal;font-div:italic;}p{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";}ol{margin-bottom:0cm;}ul{margin-bottom:0cm;}link{ color: blue } visited{ color: purple } .bp{size:612.0pt 792.0pt;margin:59.55pt 65.2pt 2.0cm 65.2pt;}div.bp{}p.ck{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify;line-height:normal}span.cl{font-family: "Times New Roman","serif"; font-size: 10.0pt; font-weight: bold}span.cm{font-size:10.0pt;font-family:"Times New Roman","serif"}p.cn{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm; text-align: justify}span.cf{font-family:"Times New Roman","serif"}p.co{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm; text-align: center}span.cd{font-family: "Times New Roman","serif"}p.cp{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin: 0cm; margin-bottom: .0001pt; text-align: justify} span.cb{font-size:11.0pt}table.cq{margin-left:-5.4pt;border-collapse:collapse;border:none}td.by{width:336.25pt;border:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}span.bz{font-family:"Times New Roman","serif"; color:black}td.bv{width:92.95pt;border:solid windowtext 1.0pt; border-left:none;padding:0cm 5.4pt 0cm 5.4pt}p.cr{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm}span.bx{font-family:"Times New Roman","serif";color:black}td.bu{width:336.25pt;border:solid windowtext 1.0pt; border-top:none;padding:0cm 5.4pt 0cm 5.4pt}td.bs{width:92.95pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}p.cs{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;line-height: normal} span.bq{font-family:"Times New Roman","serif"; color:#003399} /**/
RNS Number : 4205H
BATM Advanced Communications Ld
31 July 2019
 

LEI: 213800FLQUB9J289RU66

 

31 July 2019

 

BATM Advanced Communications Limited

("BATM" or "the Group")

 

Receipt of c. $3.4m from sale of IBC holding

                                                                                                                                     

Further to the Group's announcement of 8 August 2018, BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces the completion of the sale to Cellcom Israel Ltd and partners of the consortium's stake in the venture to construct a fibre optic network in Israel alongside the Israel Electric Corporation ("IBC"). BATM has received NIS12m (c. $3.4m based on the prevailing exchange rate of NIS 1: USD 0.286) for its rights in IBC.

 

As a result, the Group now expects reported profit before tax for full year 2019 to be in the region of $6.2m, which is ahead of market expectations. The underlying trading of BATM remains in-line with current market expectations.

 

Dr Zvi Marom, Chief Executive Officer of BATM, said: "We are pleased that this transaction has been successfully concluded and that we have generated additional value from this legacy asset. These proceeds will support our networking and medical activities as we continue to focus on delivering best-in-class solutions targeting NFV and diagnostics applications."

 

 

Enquiries:

 

BATM Advanced Communications


Dr. Zvi Marom, Chief Executive Officer

+972 9866 2525

Moti Nagar, Chief Financial Officer




Shore Capital Stockbrokers


Mark Percy, Anita Ghanekar

+44 20 7408 4050



Luther Pendragon


Harry Chathli, Claire Norbury, Joe Quinlan

+44 20 7618 9100

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCCKDDQNBKDDON

Quick facts: BATM Advanced Communications Ltd

Price: 40.1

Market: LSE
Market Cap: £176.55 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: BATM starts proof-of-concept deal discussions for its 5G...

BATM Advanced Communications Limited's (LON:BVC) Zvi Marom tells Proactive London's Andrew Scott they've started proof-of-concept deal discussions for its 5G virtual network developed with chip designer ARM. Marom says they've completed the development milestones set down by ARM ahead of...

3 weeks, 1 day ago