Final Results

For immediate release

21 September 2005

PNC Telecom PLC (the "Company")

Further trading update

In the six week period ended 16 September 2005, the Company's un-audited
management accounts show that sales amounted to 4,628,849 which generated
gross profit in excess of 160,000. The Directors estimate that administrative
expenses of the Company currently run at around 17,000 per month (including
Directors' remuneration which has now commenced).

The Board continues to recover monies which it believes were inappropriate
expenditure; a further 33,000 was received on 19 September 2005.

CHAIRMAN'S STATEMENT

Audited results for the year ended 31 March 2005

FINANCIAL RESULTS

The audited financial results for the year ended 31 March 2005 revealed an
operating loss of 458,000. The basic loss per share is 0.95p.

CHAIRMAN'S STATEMENT

Further to the publication of the audited accounts and my Chairmans statement
released on 6th June 2005, I am pleased to announce that the Company has now
profitably re-established its wholesale, distribution and trade finance
business in the telecoms TV, Video and DVD fields

The Company has raised 620,000 by way of two convertible loans which have
provided the much needed working capital.

The Directors now believe that the Company is in good shape to trade for the
year 2005/06.

L E V KNIFTON
Chairman

takeover ???

up 64% today and buys keep showing up

I wonder if it will make 100% today

looking good for another 65% rise

who is this david paxman who has dumped a load of stock ?

A wise man?
(after the event, so to speak)

He had 13m at an undisclosed, but low, price and sold at a profit, allegedly, again undisclosed sp. Short term very profitable. I would sense he is below the notification threshold requiring an RNS now!
Where are the trades that is what I want to know?
Who were they between?

At last some money being recovered from the dodgy past ! Over half a million !

Amazing turnaround after all these years. I hope they can use it well. They have been in a dormant state through no wrong-doing of the CEO. It appears his 'trusted' emissaries were at fault here. I'd love to hear how they swindled the company.
I believe there may be more to come from the litigation process. Certainly they can now pursue the 1.5m Vat repayment from HMRC from a position of some strength now.

VAT people do take a long time. The last mention was at the interim results 21 Dec 2006

Considering they have taken this trouble to stay afloat and fight the case through the courts with more litigation, allegedly, to come plus the HMRC tribunal then they must have some intention to go further with re-establishing the company as a trading entity.
Otherwise why bother?
I look forward to the next stage.

me too. not sure if i should buy more. too much loan stock about. as soon as the sp rises there are big sellers.

Maybe that is part of the plan? If they get the money in they can absorb/defray the loan notes and are an attractive proposition as a shell or even, heaven forbid, as a going concern again. maybe it is all part of the plan?..I am still working on the breath and depth of that one I hasten to add.
They are not putting the pieces back together for nothing imo!

THE PURSUE THE 1.5 MILLION REPAYMENTS
CRACK DOWN VAT FRAUD SUFFERS E.C COURT SET BACK
BRUSSELS THE GOVERNMENT WAS WRONG TO CLAIM A SALES
LEVEY FROM TADERS EUROPEN UNION TOP COURT RULED ON THURSDAY.
LET JUST HOPE PNC TELECOM TAKE THE GOVERNMENT TO COURT
AND ASK FOR SAME CONTENSIONS WHAT THE GOVERNMENT CHARGE
LIKE A FINE FOE EVERY DAY PLUS WHATS THE INTEREST RATE DAILY LATE
PAYMENT?

more success in getting cash back last week 350,000 and more to come. great. lets see how the VAT case goes. This looks like a great shell to be taken.