Exhibit 1.1
The following table compares, for the periods indicated, the total and average trading volume in Spirent’s Ordinary shares on the London Stock Exchange (“LSE”) which is the Company’s primary trading market with total and average trading volume of Spirent American Depositary Shares (“ADSs”) on the New York Stock Exchange (“NYSE”).
Period |
| Ordinary |
| Average daily |
| ADS/ |
| Average daily |
| NYSE |
|
May 2006 |
| 243,341.2 |
| 11,587.7 |
| 914.0 |
| 41.5 |
| 0.374 | % |
June 2006 |
| 167,004.7 |
| 7,591.1 |
| 524.0 |
| 26.2 |
| 0.313 | % |
July 2006 |
| 117,703.7 |
| 5,604.9 |
| 192.4 |
| 9.6 |
| 0.163 | % |
August 2006 |
| 432,264.9 |
| 19,648.4 |
| 3,040.8 |
| 132.2 |
| 0.699 | % |
September 2006 |
| 114,856.8 |
| 5,469.4 |
| 512.4 |
| 25.6 |
| 0.444 | % |
October 2006 |
| 176,798.0 |
| 8,036.3 |
| 1,692.0 |
| 76.9 |
| 0.948 | % |
November 2006 |
| 97,748.3 |
| 4,443.1 |
| 409.2 |
| 19.5 |
| 0.417 | % |
December 2006 |
| 96,919.4 |
| 5,101.0 |
| 467.6 |
| 23.4 |
| 0.480 | % |
January 2007 |
| 136,911.4 |
| 6,223.2 |
| 406.0 |
| 20.3 |
| 0.296 | % |
February 2007 |
| 82,580.7 |
| 4,129.0 |
| 452.8 |
| 25.2 |
| 0.545 | % |
March 2007 |
| 177,246.7 |
| 8,056.7 |
| 533.6 |
| 28.1 |
| 0.300 | % |
April 2007 |
| 140,818.9 |
| 7,411.5 |
| 774.4 |
| 48.4 |
| 0.547 | % |
Recent 12 Month Period: |
| 1,984,194.7 |
| 7,842.7 |
| 9,919.2 |
| 41.2 |
| 0.497 | % |
1. For the purposes of comparing like-for-like, ADS volumes have been converted into their equivalent in Ordinary shares, as each ADS is equivalent to four Spirent Ordinary shares. Actual trading volume in Spirent’s ADSs on NYSE over the recent 12 month period was 2,479,800 ADSs traded in total.
1