Update on Holding in Spectrum Investments

 

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.

 

Enquiries:

Shore Capital

Lynn Bruce, Director  +44 (0)14 8172 4222

Simon Fine, Co-Chief Executive   +44 (0)20 7408 4090

David Kaye, Co-Chief Executive  +44 (0)20 7408 4090

 

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett  +44 (0)20 7383 5100