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VIA NET.WORKS Announces Filing of Preliminary Proxy Statement

* Company Complies With Nasdaq Rule Regarding Recently Filed Form 10-K
* Quarterly Report on Form 10-Q to be Delayed


AMSTERDAM, Netherlands, May 13 /PRNewswire-FirstCall/ -- VIA NET.WORKS, Inc. (Nasdaq: VNWI; Euronext) today announced that it had filed with the Securities and Exchange Commission on May 9, 2005 a preliminary proxy statement providing notification of matters to be brought to a vote at a special and annual meeting of the shareholders of the Company. The preliminary proxy statement, which is subject to review and comment by the SEC, concerns proposed votes on the previously announced proposed sale of all of VIA's businesses to Claranet Group Limited, a proposed plan of dissolution and liquidation, a proposal to provide authority to the board of directors to cause a reverse split of the Company's shares of common stock, and a proposal to elect members of the board of directors.


As required by applicable Nasdaq rules, VIA NET.WORKS, Inc. also announced that the report of the Company's independent registered public accounting firm regarding the Company's 2004 financial statements included in its Annual Report on Form 10-K filed on April 26, 2005 contained an explanatory paragraph regarding the Company's ability to continue as a going concern. Nasdaq Marketplace Rules require Nasdaq-listed companies to publicly announce whenever a Form 10-K includes an audit report containing a going concern explanatory paragraph. The explanatory paragraph contained in the report was based upon the Company's recurring losses from operations as well as its difficulty in generating sufficient cash flow to meet ongoing obligations and sustain operations. The explanatory paragraph refers to management's plans to address this issue as described in the footnotes to the 2004 consolidated financial statements included in the Form 10-K filing and notes that these financial statements do not include any adjustments that might result from the outcome of the uncertainty surrounding the Company's ability to continue as a going concern.


VIA's liquidity issues have been previously announced publicly. The Company's plans to sell the operations in a transaction with Claranet Group Limited to address its liquidity issues has also been publicly announced and described in the footnotes to the Company's Form 10-K, and more recently, in a press release issued on May 3, 2005, in which the Company announced the execution of a definitive sale and purchase agreement and a working capital facility agreement with Claranet. For a discussion of the Claranet sale transaction, please refer to the Company's recently filed Annual Report on Form 10-K as well as its Current Report on Form 8-K filed on May 8, 2005.


The Claranet sale transaction is conditioned on receiving the approval of the Company's shareholders. The Company will seek approval at a special and annual meeting of the shareholders. A date for the meeting will be set after it is determined whether the SEC will provide any comments on the preliminary proxy statement filed on May 9. If the SEC does not provide any comments, or otherwise permits the Company to proceed with filing of a final proxy statement before the end of May, the shareholders' meeting will likely take place during the latter part of June 2005.



If the Company's shareholders were to reject the transaction, or if the transaction were not closed, for any other reason, there can be no assurances that VIA will be able to find an alternative solution to its liquidity issue and in that event, would have insufficient funds to continue to operate the Company as a going concern.


VIA also announced today that its periodic report for the three months ended March 31, 2005 on Form 10-Q would be delayed and that it would file a Form 12b-25 Notification of Late Filing with the SEC on Monday, May 16, 2005.



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-                             05/13/2005
    /CONTACT:  Investors: Michael Geczi, +1-212-681-1700, ext. 156, cell:
+1-917-439-8377, fax: +1-212-681-6961, mgeczi@torrenzano.com, for VIA
NET.WORKS, Inc.; or Media: Piers Schreiber of VIA NET.WORKS, Inc.,
+31-20-502-0072, cell: +31-65-535-8087, fax: +31-20-502-0001,
pschreiber@vianetworks.com/
    /Web site:  http://www.vianetworks.com /
    (VNWI)

CO:  VIA NET.WORKS, Inc.; Claranet Group Limited
ST:  Netherlands
IN:  CPR NET OTC
SU:

JV-MV
-- DCF046 --
1860 05/13/2005 16:30 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.

 

 



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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