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VIA NET.WORKS Receives Nasdaq Staff Determination on Continued Listing
AMSTERDAM, Netherlands, June 14 /PRNewswire-FirstCall/ -- VIA NET.WORKS, Inc. (Nasdaq: VNWI; Euronext) announced that on June 13, 2005 it received a Nasdaq Staff Determination indicating that VIA has failed to comply with the $1.00 minimum bid price requirement for continued listing under Nasdaq's Marketplace Rule 4310(c)(4) and that therefore the Company's common stock is subject to delisting from the Nasdaq SmallCap Market. VIA noted that it intends to request a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination. Under Nasdaq rules, the delisting will be deferred until the appeal is resolved.
VIA also noted that it had completed the mailing of the Proxy Statement to its shareholders with respect to its 2005 Annual and Special Meeting. The meeting is scheduled to take place on June 29, 2005 at the Heathrow Hilton Hotel in the United Kingdom, beginning at 6 pm UK time. At the meeting, shareholders will vote on, among other things, the proposal to grant authority to the board of directors of the company to implement a reverse split of its common stock. The company anticipates that the reverse split is likely to be sufficient to enable the company to regain compliance with Nasdaq's minimum bid requirement.
VIA further noted that in the Proxy Statement its shareholders have been asked to vote upon a proposed sale of substantially all the assets of the company to Claranet Group Limited.
About VIA NET.WORKS, Inc.
VIA NET.WORKS, Inc. (Nasdaq: VNWI; Euronext) is a leading provider of business communication solutions to small- and medium-sized businesses in Europe and the United States. VIA offers a comprehensive portfolio of business communications services, including hosting, security, connectivity, networks, voice and professional services. Website: http://www.vianetworks.com.
SOURCE VIA NET.WORKS, Inc.
-0- 06/14/2005
/CONTACT: Investors & Media: Matt Nydell of VIA NET.WORKS, Inc.,
+31 20 502 0058, fax: +31 20 502 0001, mnydell@vianetworks.com/
/Web site: http://www.vianetworks.com /
(VNWI)
CO: VIA NET.WORKS, Inc.
ST: Netherlands
IN: CPR NET OTC
SU:
JV-RJ
-- DCTU019 --
2555 06/14/2005 17:30 EDT http://www.prnewswire.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding VIA NET.WORKS's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
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31.07.2007
VIA NET.WORKS Publishes Questions and Answers on Status of Company
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21.10.2005
VIA NET.WORKS Completes Sale of All VIA Operations
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