Intention to Cancel Admission to Trade on AIM

    RNS Number : 7201K
  First Communications, Inc.
  23 December 2008
   

    First Communications, Inc. (the "Company")

    Intention to cancel admission to trading on AIM

    As anticipated by the Company's announcement on October 21, 2008, in relation to the Company's proposed merger with a subsidiary of
Renaissance Acquisition Corp. (AMEX:RAK) ("Renaissance") (the "Merger"), the Company expects Renaissance shareholders to vote on the Merger
between 19 January and 29 January 2009. The Merger has already been approved by the Company's shareholders. As previously stated, the
Company believes that shareholders will not benefit, should the Merger complete, from having a dual listing on AIM and thus will propose a
resolution that the Company's admission to trading on AIM be cancelled.

    The Company therefore hereby notifies its shareholders that, pursuant to the AIM Rules for Companies, it will be posting a circular in
the new year to its shareholders setting out a resolution for the Company's admission to trading on AIM to be cancelled. This resolution
will be conditional upon the approval of the Merger by the shareholders of Renaissance, and take effect on the business day following the
closing of the Merger, provided that such closing occurs on or prior to 31 January 2009. The Company therefore expects that, should these
conditions be met and the proposed cancellation resolution be passed, the Company's admission will be cancelled between 26 January and 30
January 2009. 

    The Company has to date received irrevocable undertakings from shareholders holding 20,911,001 shares of its Common Stock, representing
77.7% of the current issued and outstanding Common Stock of the Company, to vote in favour of the cancellation of the admission of the
Company's common stock to AIM, should the above resolution be proposed.

 For further information:

 First Communications
 Joe Morris                                 Tel: + 1 330 835 2472

 Collins Stewart Europe Limited
 Stewart Wallace                            Tel: + 44 (0) 20 7523 8350

 Financial Dynamics
 Harriet Keen/Haya Chelhot/Hazel Stevenson  Tel: + 44 (0) 20 7831 3113

    Collins Stewart Europe Limited, which is regulated by the Financial Services Authority, as Nominated Adviser and Broker exclusively for
the Company, is not acting for any other person and will not be responsible to any person other than the Company for providing the
protections afforded to customers of Collins Stewart Europe Limited, or for advising any other person in connection with the arrangements
described in this announcement. The responsibilities of Collins Steward Europe Limited, as Nominated Adviser, are owed solely to the London
Stock Exchange.

    This document does not constitute or form part of any offer invitation to sell or issue, or any solicitation of any offer to purchase or
subscribe for any securities in any jurisdiction, nor shall this document or any part of it, or the fact of its distribution, form the basis
of, or be relied upon in connection with, or act as an inducement to enter into, any contract or commitment whatsoever.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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