Update on Holding in Spectrum InvestmentsSource: RNS
Shore Capital Group Limited
("Shore Capital" or the "Company")
Update on Holding in Spectrum Investments
Shore Capital holds a 59.94% interest in Spectrum Investments Limited, the parent company of DBD. DBD, through a subsidiary, holds 32 regional radio spectrum licences in Germany of perpetual duration (the "Licences").
Following previous updates in respect of communications with the German Telecoms Regulator ("BNetzA"), it has now been concluded that the Licences shall be reallocated from the 3.5 GHz frequency band to the 3.700-3.730 GHz frequency band at no cost. The licences will continue to be for perpetual duration, on a "flexibilised" basis, meaning without historic technical restrictions limiting their usage. The flexibilisation will enable their use for modern services such as 4G and 5G.
We are therefore confident of the future prospects for DBD's business and the value that can accrete from it.
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Lynn Bruce, Director
Simon Fine, Co-Chief Executive
David Kaye, Co-Chief Executive
+44 (0)14 8172 4222
+44 (0)20 7408 4090
+44 (0)20 7408 4090
Grant Thornton UK LLP (Nominated Adviser)
+44 (0)20 7383 5100
About Shore Capital
Shore Capital is an AIM quoted independent investment group. Founded and majority owned by entrepreneurs, for three decades Shore Capital has been helping entrepreneurial businesses reach their full potential, find committed long-term investors and develop into significant enterprises. The business offers innovative corporate advice; a leading market making business; some of the most respected investment research available in the UK; and a diverse range of high-quality investment opportunities.
The Group is based in Guernsey, London, Liverpool, Edinburgh and Berlin. Shore Capital Stockbrokers Limited, Shore Capital and Corporate Limited, Shore Capital Limited and Puma Investment Management Limited are each authorised and regulated by the Financial Conduct Authority. Shore Capital Stockbrokers Limited is a member of the London Stock Exchange.
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