Conversion of Loan Note
03 Mars 2005 - 8:01AM
UK Regulatory
FOR IMMEDIATE RELEASE 3 March 2005
PNC TELECOM PLC
("PNC" or the "Company")
Pursuant to the issuance of Convertible Loan Notes totalling �120,000,
convertible at 0.1p per share at any time for 7 years from 17 February 2005 to
16 February 2012 ("Loan Notes"), at a Board Meeting of 2 March 2005, the Board
accepted a request from a Note Holder for the conversion of a �5000 Loan Note
and has agreed to allot 5,000,000 Ordinary shares at 0.1p per share in
accordance with the terms of the Loan Note Instrument.
The resulting holding of 5,000,000 ordinary shares represents 9.41% of the
enlarged issued share capital of the Company.
Application is being made for a total of 5,000,000 new Ordinary shares of 0.1p
to be admitted to trading on AIM.
For further information:
PNC Telecom Plc
Leo Knifton Tel: +44 (0) 207 251 3762
END
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