PUN Public Network

RNS Number:4792F
Public Network PLC
23 December 2002



Public Network PLC - Trading Statement and Miscellaneous

20 December 2002


Public Network Plc ("the Company") announces that although the sale of Directors
shares completed on 30 November 2002 and was successful in securing #92,250 for
the Company, the Company has experienced delays in winning three key contracts
that were expected to be finalised in this quarter to 31 December 2002.  In
addition the following issues have arisen since the announcements made on 13
November 2002 that affect the going concern position of the Company:

The Company is experiencing delays in setting up a trade finance agreement to
borrow against cash held in its kiosks.  This facility was expected to be in
position by the end of November 2002, however this has not been completed and
discussions are ongoing.

The Company's Bankers have requested a reduction in the Company's overdraft
facility by the end of January 2003.

The Interim Statement for the Company is due for release by 31 December 2002,
however as a result of the above points, the Directors do not believe they will
be in a position to meet this requirement.

The Directors continue to explore a number of possible options to address the
Company's cash position and to ensure its survival.

Furthermore the Company has recently made two acquisitions and is working with
its advisers to ensure the correct recording and announcement of these
transactions.


Further announcements on the above points will be made in due course.

If you have any queries or require further information please contact David
Martin at Public Network Plc on 020 8547 0220.


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

Public Network (LSE:PUN)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024

Public Network (LSE:PUN)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024