1st Feb 2006 11:00
FOR IMMEDIATE RELEASE 1 February 2006 PNC TELECOM PLC ("PNC" or the "Company") ISSUE OF EQUITY At a Board Meeting on 31 January 2006, the Board received and accepted arequest from Cairns Investment Holdings Limited ("Cairns"), pursuant to theissuance of Convertible Loan Notes totalling ‚£500,000 convertible at 0.1p pershare at any time for 7 years from 29 April 2005 to 28 April 2012, for theconversion of a ‚£15,000 Loan Note and has agreed to allot 15,000,000 newordinary shares at 0.1p per share (the "Shares") in accordance with the termsof the Loan Note Instrument.Application will be made for the Shares, which will rank pari passu withexisting ordinary shares, to be admitted to trading on AIM.15,000,000 ordinary shares represent 9.48% of the increased issued sharecapital and subsequent to various disposals, Cairns has informed the Companythat their total holding is now 3,000,000 ordinary shares, representingapproximately 1.9% of the increased issued share capital.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 / Noelle Greenaway ENDPNC TELECOM PLCRelated Shares:
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