SINGAPORE, Sept. 18 /Xinhua-PRNewswire-FirstCall/ -- Pacific Internet Limited (NASDAQ:PCNTF) (the "Company"), Asia Pacific's largest telco- independent Internet Communications Service Provider by geographic reach, announced that it has, on Tuesday, September 18, filed a Form 6-K/A to correct certain sections of the Form 6-K filed by the Company with the U.S. Securities and Exchange Commission ("SEC") on Tuesday, August 28, 2007, relating to its results of operations for the three- and six-month periods ended June 30, 2007.
This error relates to the under-accrual of expenses associated with licensing fees, certain expenses related to potential acquisitions being considered by the Company, and legal, accounting and public relations expenses incurred by the Company in connection with the tender offer for the shares of the Company by Connect Holdings Limited.
The Company also wishes to inform its shareholders that it is evaluating the financial impact of the restructuring of its wireless, voice and regional product assets and initiatives, which may include the discontinuance of non- performing assets and initiatives. The Company anticipates that it may be required to recognise a restructuring charge in its third quarter ending September 30, 2007.
Please refer to this link for full, corrected financial tables: http://xprnnews.xfn.info/PacNet/20070918/PacNet6KQ2FY07Rst.xls .
About Pacific Internet Limited Pacific Internet Limited or PacNet (NASDAQ:PCNTF) is the largest telco- independent Internet Communications Service Provider by geographic reach in the Asia Pacific region. The Company has direct presence in Singapore, Hong Kong, the Philippines, Australia, India, Thailand and Malaysia. PacNet delivers a comprehensive suite of Internet data, voice and video services to corporate business and consumer customers. For more information, visit http://www.pacnet.com/ .
Cautionary Statement Statements made in this announcement with respect to PacNet's current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of PacNet. Forward-looking statements include but are not limited to those using words such as "seek", "expect", "anticipate", "estimate", "believe", "intend", "project", "plan", "strategy", "forecast" and similar expressions or future or conditional verbs such as "will", "would", "should", "could", "may" and "might". These statements reflect management's current expectations, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including but not limited to (i) changes in the economic, regulatory and political environments in the countries where PacNet operates; (ii) changes and developments in technology and the Internet marketplace; (iii) PacNet's continued ability to develop and win acceptance of its products and services, which are offered in highly competitive markets; (iv) the success of its joint ventures and alliances; (v) exchange rates, particularly between the Singapore dollar and the U.S. dollar and other currencies in which PacNet makes significant sales or in which its assets and liabilities are denominated; and (vi) the outcome of contingencies. In light of the many risks and uncertainties surrounding the Internet marketplace, the actual results could differ materially from those discussed in the forward- looking statements. PacNet assumes no obligation to update any such statements.
For more information, please contact: Bernard Ho
Senior Manager, Group Corporate Communications
Pacific Internet Limited
Tel: +65-6771-0443
Mobile: +65-9782-3393
Email: / DATASOURCE: Pacific Internet Limited CONTACT: Bernard Ho, Senior Manager, Group Corporate Communications of Pacific Internet Limited, +65-6771-0443, or mobile, +65-9782-3393, , or Web site: http://www.pacific.net.sq/
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