Access Devices, Inc. Announces Proposal to Acquire Access Devices Limited.DALLAS -- Access Devices Inc., (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :ACDJ) (the "Company") announced today that it proposes to acquire 70 percent of the share capital of Access Devices Limited (ADL), a company incorporated in England and Wales England and Wales are both constituent countries of the United Kingdom, that together share a single legal system: English law. Legislatively, England and Wales are treated as a single unit (see State (law)) for the conflict of laws. , in a stock-for-stock transaction. Opening and Clarifying Remarks The Company has entered into an agreement with Link Investment Holdings Limited ("Link") whereby Link as the majority shareholder of ADL (following the conversion of convertible notes) has irrevocably agreed to exchange its shares for shares in the Company. It is expected that the minority shareholders of ADL would also accept the exchange for share offer. It is the Company's intention to rapidly develop the business of ADL by providing entry into the U.S. capital markets. This entry is anticipated to provide working capital for the expected rapid growth of ADL in rolling out its business plan in the United Kingdom, Europe and elsewhere. About Access Devices Limited ADL designs, manages the manufacture of and sells digital television access and internet protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. television equipment (IPTV (Internet Protocol TV) Also called "TV over IP," IPTV delivers scheduled TV programs and video-on-demand (VOD) via the IP protocol and digital streaming techniques used to watch video on the Internet. ). The company currently has a range of designs combining: --A Digital TV decoder (DVB-T See DVB. ) currently in use in the U.K. by Freeview and EuroVarient --IPTV providing Video-on-Demand (VOD See video-on-demand. VoD - video on demand ) over DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary and a --Combination Digital TV decoder with an IP delivery path. In Europe, a most diverse and developed digital TV market, there are 350 million TV households, but only a small number are equipped to receive digital TV. Most countries in Europe have, or are developing plans to switch off their analogue TV services and move to a combination of free-to-air digital terrestrial, subscription-based digital satellite and subscription-based digital cable TV. ADL is uniquely positioned to service this demand. The next evolutionary stage for digital TV is IPTV to enable 'on-demand,' 'time shifted' services and true real-time interactivity. ADL products can seamlessly combine the TV broadcast and IP delivered content to enable broadcasters to develop new services across entertainment and commerce. For further information view www.accessdevices.co.uk. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "Forward-Looking Statements" for purposes of safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provided by Section 21E of the Securities Exchange Act of 1934, as amended. Forward-Looking Statements may be identified by words including "anticipate," "await," "envision," "foresee," "aim at," "believe," "intends," "estimates" including without limitation, those relating to the Company's future business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the Forward Looking Statements. Readers are directed to the Company's filings with the U.S. Securities and Exchange Commission for additional information and a presentation of the risks and uncertainties that may affect the Company's business and results of operations. |
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