Uscom Ltd today announced that it will issue 5.8 million shares at 12 cents as part of a private placement to sophisticated investors. Subscriptions have been received for all 5.8 million of the current placement, however additional applications will be received and any additional shares issued subject to shareholder approval at the AGM on November 6th 2012.

The 5.8 million shares represent the balance of the Company's 15% capacity under listing rule 7.1. The Board expects to issue the shares on Friday 24th of August.

Uscom Ltd currently has 54,124,488 fully paid ordinary shares on issue prior to this private placement.

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