Tricor Regulatory News (TRIC)

31 Mar 2006 11:42

PNC Telecom PLC31 March 2006 FOR IMMEDIATE RELEASE 31 March 2006 PNC TELECOM PLC ("PNC" or the "Company") ISSUE OF EQUITY At a Board Meeting on 27 March 2006, the Board received and accepted a requestfrom Cairns Investment Holdings Limited ("Cairns"), pursuant to the issuance ofConvertible Loan Notes totalling £120,000 convertible at 0.1p per share at anytime for 7 years from 28 April 2005 to 27 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 6.3%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 PlcLeo Knifton Tel: +44 (0) 207 251 3762 Beaumont Cornish LimitedNominated Advisers Tel: +44 (0) 207 628 3396 Roland Cornish This information is provided by RNS The company news service from the London Stock Exchange