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Coms advance as it lands ‘strategically significant’ new contract

Published: 06:06 23 Feb 2016 EST

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The project, worth £750,000, is at the headquarters of an existing customer.

Coms (LON:COMS) shares gained 10% on Tuesday Morning after it announced what it described as a ‘strategically significant’ new contract.

Redstone, Coms’ core operating division, has been hired to design and install an in-building cellular system for almost one million square feet of office space in the City of London.

The system will allow users to use mobile phones and devices in areas of the building where receiving a signal would otherwise be a problem.

The project is worth £750,000 and is for the UK headquarters of one of Redstone’s existing clients, Coms said.

"In-building mobile coverage is important as mobility and BYOD (bring your own device) becomes the expected norm in today's smart working environments,” said Mark Braund, Coms chief executive.

“Steel, concrete and infrastructure limits signal strength, often to zero, creating strong demand for increasingly sophisticated solutions to overcome this.  In-building cellular systems are the answer.”

On AIM, Coms shares gained 0.18p, 10.6%, to change hands at 1.82p.

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