17th May 2006 16:24
FOR IMMEDIATE RELEASE 17 May 2006 PNC TELECOM PLC ("PNC" or the "Company") ISSUE OF EQUITY At a Board Meeting on 17 My 2006, the Board received and accepted a requestfrom Cairns Investment Holdings Limited ("Cairns"), pursuant to the issuance ofConvertible Loan Notes totalling ‚£500,000 convertible at 0.1p per share at anytime for 7 years from 29 April 2005 to 28 April 2012, for the conversion of a ‚£5,000 Loan Note and has agreed to allot 5,000,000 new ordinary shares at 0.1pper share (the "Shares") in accordance with the terms of the Loan NoteInstrument.The resulting holding of 5,000,000 ordinary shares, together with the existingholding of 5,000,000 ordinary shares totals 10,000,000 ordinary shares or 6.13%of the enlarged issued share capital.Application will be made for the Shares, which will rank pari passu withexisting ordinary shares, to be admitted to trading on AIM.For further information:PNC Telecom Plc Leo Knifton Tel: +44 (0) 207 251 3762 Beaumont Cornish Limited Nominated Advisers Tel: +44 (0) 207 628 3396 Roland Cornish ENDPNC TELECOM PLCRelated Shares:
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