Notice of General Meeting

 

TIDMFCOM 
 
RNS Number : 1615S 
First Communications, Inc. 
03 September 2010 
 
 
                           First Communications, Inc. 
                                (the "Company") 
 
                Proposed De-Listing & Notice of General Meeting 
Akron, OH, 3 September 2010 - The Company announced on 2 September 2010 that the 
board of the Company (the "Board") had decided to call a General Meeting of the 
shareholders of the Company and depository interest holders at which a 
resolution for the Company's delisting from AIM (the "Delisting") should be 
proposed and considered.  In accordance with the Company's articles of 
incorporation, the Board is convening a General Meeting for this purpose. The 
General Meeting will be held on 20 September 2010. Under the AIM Rules, the 
cancellation shall be conditional upon the consent of not less than seventy-five 
per cent. (75%) of votes cast by its shareholders in a general meeting. The 
Board believes that the level of ownership of the members of the Board or the 
entities with which they are affiliated is such that it is highly unlikely that 
the relevant resolution will not be passed. 
Background to the De-Listing 
The Board feels the admission to trading on AIM has not and will not in the near 
future help its ability to access additional capital and that accessing 
additional capital will likely be more efficient on a US exchange or as a 
private Company.  In addition, there has been very little liquidity in the 
Company's shares since its admission to trading on AIM.  The Board does not see 
an advantage in remaining publicly quoted and does not believe the ongoing costs 
and regulatory requirements of a listing on AIM can be justified. 
The Delisting 
The Company hereby notifies shareholders and holders of depository interests 
that, subject to shareholder approval at the General Meeting to be held on 20 
September 2010, it is expected that the Company's listing on AIM will be 
cancelled from 7:00 A.M. (BST) on 30 September 2010. 
Transactions in the Company's Shares and Depository Interests following 
Delisting 
Following the Delisting, there will be no market facility for dealing in the 
ordinary shares or depository interests and no price will be publicly quoted for 
the depository interests or ordinary shares.  As such, interests in ordinary 
shares or depository interests are unlikely to be readily capable of sale and 
where a buyer is identified, it will be difficult to place a fair value on any 
such sale. While there can be no guarantee that shareholders or depository 
interest holders will be able to sell any shares or depository interests, any 
shareholder or depository interest holder seeking to do so should contact the 
Company in writing at 3340 West Market Street, Fairlawn, Ohio 44333 U.S.A., 
attention Raymond Hexamer, CEO.  The Company Secretary will then be able to 
advise as to whether the Board is aware of any prospective buyers for any 
ordinary shares or depository interests which the holder thereof wishes to sell 
at that time. 
General Shareholders Meeting 
A circular containing a notice of the General Meeting of the Company to be held 
at the offices of the Company at 3340 West Market Street, Fairlawn, Ohio 44333, 
U.S.A., at 3:00 PM (BST) on 20 September 2010 is being sent to shareholders and 
holders of depository interests today.  A copy of the circular will shortly be 
available from the Company's website at www.firstcomm.com or will otherwise be 
available from the Company's offices as listed above. 
 
Inquiries: 
First Communications, Inc. 
Raymond Hexamer, Chief Executive Officer                  Tel: [phone] 
 
Joseph Morris, President                                              Tel: +1 
[phone] 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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