Tuesday, July 3, 2012

Toumaz acquires Frontier Silicon

Toumaz Limited (AIM: TMZ, ‘Toumaz, or ‘the Group’), a pioneer in and provider of ultra-low power, high-performance wireless communications technologies and solutions, has agreed to acquire Frontier Silicon Limited, a leading supplier of semiconductor, module and software solutions for digital radio and connected audio systems, for a maximum consideration of up to £32.3m.

The Group also announces the conditional placing of 285.6m new Ordinary Shares at a placing price of 10.25 pence, raising £29.25m before expenses. The shares have been placed at a premium by finnCap with both new and existing institutional investors.

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