BTP Bns Telecom

    RNS Number : 6837C
  BNS Telecom Group plc
  03 September 2008
   
    BNS Telecom Group Plc
    (the "Company")

    Related party transaction

    Further to the announcement by the Company on 11 August 2008 regarding certain loans having been made to Garry Moat, Chief Executive,
the Directors make the following announcement.

    Pursuant to AIM Rule 13, following the agreement of the terms of a related party transaction, companies are required to make a statement
that with the exception of any director who is involved in the transaction as a related party, its directors consider, having consulted with
its nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

    All loans made to Garry Moat were fully drawn prior to any consultation with KBC Peel Hunt Ltd, the Company's nominated adviser.  KBC
Peel Hunt Ltd has, therefore, not provided an opinion on the fairness of these loans. As a result the Company is unable to make the
statement required by AIM Rule 13.  

    However, Shareholders should note that as stated in the Company's announcement of 11 August 2008 referred to above, the Directors of the
Company, excluding Garry Moat, consider that the terms of this loan agreement are fair and reasonable insofar as the Company's shareholders
are concerned.

    A circular to Shareholders was posted on 21 August 2008, including a notice convening a general meeting to be held on 8 September 2008
at 12.00 noon at the offices of KBC Peel Hunt Ltd, 111 Old Broad Street, London EC2N 1PH seeking Shareholder's approval to the terms of the
loans made to Garry Moat.

    Enquiries to:

 BNS Telecom Group Plc                           Tel: 01661 839 554
 Graham Wilson, Non-executive Chairman                             
 Andrew Goldwater, Finance Director                                

 College Hill                                    Tel: 020 7457 2020
 Adrian Duffield                                                   

 KBC Peel Hunt Ltd (Nominated Adviser & Broker)  Tel: 020 7418 8900
 David Anderson                                                    
 Oliver Scott                                                      


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