Electronic Trading on CREST

 

TIDMFCOM 
 
RNS Number : 7067E 
First Communications, Inc. 
24 December 2009 
 

 
 
First Communications, Inc. 
Registers Stock for Electronic Trading on CREST 
 
 
AKRON, OH, December 24, 2009 -- First Communications, Inc. (AIM: FCOM) a leading 
integrated telecommunications carrier based in the Midwestern United States, 
today announces the following update to the trading and settlement of its 
shares. 
 
 
First Communications, Inc. (the "Company") was listed on the AIM market of the 
London Stock Exchange effective on July 2, 2007. As over a year has passed since 
the Company's admission to AIM, restrictions on transfer imposed under the U.S. 
Securities Act 1933, as amended (the "Securities Act") can now be removed from 
certain qualifying securities in the Company ("Qualifying Securities"). This 
will allow interests in Qualifying Securities to be settled in electronic form 
within the CREST system as Depository Interests. The ISIN of the Depository 
Interests will not change from the current issued shares. 
 
 
CREST is a UK and Irish electronic paperless share transfer and settlement 
system that allows shares and other securities to be held in electronic rather 
than paper form. As the Company is not a UK or Irish company, transactions in 
its securities cannot be undertaken direct and electronically through CREST, 
thus depositary interests are required. 
 
 
The Company has established a Depository Interest facility with Capita IRG 
Trustees Ltd. ("Capita"), with effect from December 22, 2009, in terms of which 
Capita will issue Depository Interests to qualifying stockholders on a one-for 
one basis for each Qualifying Security in the Company held by that qualifying 
stockholder. Capita will appear on the register of members of the Company as the 
stockholder but the beneficial interest and all rights in the stock will remain 
with the original stockholder. The benefit of dematerialization is that the 
Depository Interests can be held and transferred through CREST, thereby 
enhancing the liquidity of the Company's securities. 
 
 
About First Communications 
 
 
First Communications is a leading integrated telecommunications carrier based in 
the Midwestern United States. Founded in 1998, First Communications has built a 
highly reliable fiber-based infrastructure which it uses to provide small and 
medium business, enterprise, and carrier customers superior voice, internet, and 
transport services. First Communications' mission is to provide secure and 
reliable next-generation services that support the critical communications needs 
of its commercial customers. For more information visit First Communications on 
the Internet:  http://www.firstcomm.com 
 
 
For further information: 
 
 
First Communications, Inc. 
Joe Morris Tel: [phone] 
 
 
Collins Stewart Europe Limited - Nominated Adviser and Broker 
Stewart Wallace Tel: [phone] 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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