Pink Sheets - PTEL.pk
LONDON, June 14 /CNW/ - Petel Incorporated can today announce that they
are in the final stages of a Business Combination with UK broadband television
technology visionaries a2a Group PLC.
A business combination allows the two companies to remain intact, each
trading on its respective exchange, whilst pooling resource and capital. Petel
Incorporated are overseeing the final UK legal requirements to effect the
transaction. On completion, the previously detailed 1-for-1 share exchange
will be actioned. It is anticipated this will be no later than week commencing
2nd July 2007.
The business combination delivers significant benefits to both parties:
- In-house channel management and broadcast platform technologies.
- Acceleration of schedule to launch non-adult broadband television
- Complete end-to-end channel management, from production through to
a2a Group PLC:
- Restructure, with successful management input from Petel Incorporated.
- Management input will deliver revenue generating status within 6 weeks
- Design and production facilities available in-house, reducing
significant third party costs.
- Market management.
- Marketing input and support.
- Contract management and development with major global brands.
- AsiaPac market development in conjunction with experienced Petel
Incorporated management team.
Further information will be released on completion.
For more information please contact: email@example.com Or visit:
This news release contains forward-looking statements that are subject to
certain risks and uncertainties that may cause actual results to differ
materially from those projected on the basis of such forward-looking
statements. The words "estimate," "project," "intends," "expects," "believes,"
and similar expressions are intended to identify forward-looking statements.
Such forward-looking statements are made based on management's beliefs, as
well as assumptions made by, and information currently available to,
management pursuant to the "safe-harbour" provisions of the Private Securities
Litigation Reform Act of 1995. For a more complete description of these and
other risk factors that may affect the future performance of Petel, Inc. see
"Risk Factors" in the Company's Annual Report on Form 10-KSB and its other
filings with the Securities and Exchange Commission. Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak only
as of the date made and the Company undertakes no obligation to disclose any
revision to these forward-looking statements to reflect events or
circumstances after the date made or to reflect the occurrence of
For further information:
For further information: Nik Ellwood, +44-(0)845-0344-097